FORWARDAIR: OVERVIEW
Forward Air Corporation is a leading provider of time-definite surface transportation and related logistics services to the North American air freight and expedited LTL market. We provide scheduled surface transportation of cargo as a cost effective, reliable alternative to air transportation. We transport air freight that must be delivered at a specific time, but is less time-sensitive than traditional integrated services. We have a network of freight terminals located on or near airports in 85 U.S. and Canadian cities, including our central sorting facility in Columbus, Ohio and 11 regional sort centers that create the most effective linehaul network in the industry. Since 1995, we have experienced rapid growth in revenue from $63.6 million to $392.7 million in 2007 and in operating income from $6.4 million to $71.0 million. We utilize a flexible source of capacity made up of owner-operators and, to a lesser extent, other surface transportation providers, which results in a largely variable cost operating model with low capital requirements.
