CORALVILLE, IOWA September 19, 2005 Heartland Express, Inc. (Nasdaq: HTLD) announced today the recent expansion to the Western United States. The Company's western operation is based in Phoenix, Arizona with future plans to expand to other western markets. The Company now has eight regional operating centers plus its corporate headquarters. A new terminal will be built on land purchased in Phoenix. A leased facility is currently being utilized in Phoenix. The western operation commenced during the third quarter of 2005.
The Company has achieved much success while serving its customer base in the Eastern half of the United States during its twenty-seven years of operations.
The opening of the western half of the United States will allow for service to existing customers and the expansion of our current customer base into western markets. Heartland Express is well known for the quality of service it provides and has posted industry leading results on a consistent basis while maintaining a debt-free balance sheet. The Company has successfully integrated five acquisitions since 1987 and is now expanding through the opening of this new market.
Current regional operations which account for approximately 60% of the Companys business are located in Atlanta, GA, Carlisle, PA, Chester, VA, Columbus, OH, Jacksonville, FL, Kingsport, TN, and Olive Branch, MS. National, regional, and dedicated services are also conducted from the Companys headquarters in Coralville, Iowa.
The Company reported gross revenues of $457.1 million and a 79.5% operating ratio (operating expenses as a percentage of gross revenues) in 2004 with $517.0 million in total assets.
This press release may contain statements that might be considered as forward-looking statements or predictions of future operations. Such statements are based on managements belief or interpretation of information currently available. These statements and assumptions involve certain risks and uncertainties.
Actual events may differ from these expectations as specified from time to time in filings with the Securities and Exchange Commission.