Heartland Express, Inc. Announces Expansion to Western United States.
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.
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 $517.0 million in total assets.
Not only does Heartland offer industry leading pay truckload sector, Heartland’s regional oriented fleets offer increased hometime opportunities for those drivers needing more flexibility. The typical regional drivers get home most weekends or more. Current regional operations which account for approximately 60% of the Company’s business are located in Atlanta, GA, Carlisle, PA, Chester, VA, Columbus, OH, Jacksonville, FL, Kingsport, TN, and Olive Branch, MS. National, regional, and dedicated services are also conducted from the Company’s headquarters in Coralville, Iowa.
Heartland Express is also known for their unique approach to drivers who run in the Northeast part of the country. In August of 2004 they introduced a program called GREEN MILE$, where company drivers running in this area can make an unprecedented $.50 per mile and operators make $.95 per dispatched mile, loaded or empty, PLUS their added fuel stabilization program pay.
In an earlier announcement Heartland stated that they were replacing their entire tractor fleet with 2005 and newer International 9400i model tractors. The International truck was chosen with the driver in mind and offers more amenities than their current fleet of Freightliners. This transition is well under way with a substantial number of tractors already replaced. The company is committed to having this transition completed by the end of 2006.
Heartland Express is currently recruiting Company and Owner Operator solo drivers and teams. They continue to retain the best quality, driver-friendly, freight and are adding new freight every week. The service level that Heartland’s drivers give makes Heartland a premier truckload carrier in a highly competitive market and the company is looking to grow their fleet of experienced professional drivers.
Heartland Express is an irregular route truckload carrier based in Coralville, Iowa serving customers with primary shipping lane east of the Rocky Mountains. They offer long-haul, regional, and dedicated opportunities. Any professional driver interested in getting more information about Heartland Express can call them at 1-800-441-4953 or access the company website at www.heartlandexpress.com.
