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J.B. HUNT TRANSPORT SERVICES REPORTS REVENUES AND EARNINGS FOR FIRST QUARTER 1992

 J.B. HUNT TRANSPORT SERVICES REPORTS
 REVENUES AND EARNINGS FOR FIRST QUARTER 1992
 LOWELL, Ark., April 16 /PRNewswire/ -- J.B. Hunt Transport Services, Inc. (NASDAQ-NMS: JBHT) announced revenues and earnings for the first quarter ended March 31, 1992.
 Consolidated revenues for the first quarter totaled $201.3 million up 23 percent over the $163.5 million for the first quarter of 1991.
 Revenue increases for the first quarter reflect continued growth of the dry van business, particularly intermodal. Base rate increases and new division operations effected in mid to late 1991 also contributed to higher revenues.
 Earnings before the cumulative effect of the change in accounting method, adopted in 1991, increased to $6.3 million, or 18 cents per share, from $4.2 million, or 12 cents per share. A one-time, non- operating charge for the cumulative effect of the change in revenue recognition method reduced 1991 net earnings by $1.6 million, or 5 cents per share. The new method of accounting, which recognizes revenue based on relative transit time in each reporting period with the expenses recognized as incurred, was adopted as a result of a consensus reached by the Emerging Issues Task Force of the Financial Accounting Standards Board.
 Earnings before cumulative effect of the change in accounting increased 50 percent from 1991. Base rate increases and operational changes initiated in mid 1991 contributed to increased earnings. In addition, earnings for the first quarter of 1991 were unusually low due to overall economic conditions.
 J.B. HUNT TRANSPORT SERVICES, INC.
 Comparative Condensed Statements of Earnings
 (In thousands, except per share data -- unaudited)
 Period ended Three months
 March 31 1992 1991
 Operating revenues $ 201,298 $ 163,544
 Earnings before cumulative effect
 of change in accounting method 6,276 4,192
 Cumulative effect on prior years of
 change in revenue recognition method -- 1,558
 Net earnings $ 6,276 $ 2,634
 Earnings per share(A)
 Earnings before cumulative effect
 of change in accounting method $.18 $.12
 Cumulative effect on prior years of
 change in revenue recognition method -- .05
 Net earnings $.18 $.07
 (A) Reflects three-for-two stock split paid March 1992.
 -0- 4/16/92
 /CONTACT: Kirk Thompson, president and chief executive officer of J.B. Hunt Transport Services, 501-820-8110/
 (JBHT) CO: J.B. Hunt Transport Services Inc. ST: Arkansas IN: TRN SU: ERN


SH -- NY015 -- 9105 04/16/92 09:07 EDT
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Publication:PR Newswire
Date:Apr 16, 1992
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