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J.B. HUNT TRANSPORT SERVICES, INC. CHANGES ACCOUNTING METHOD FOR RECOGNIZING REVENUE

                    J.B. HUNT TRANSPORT SERVICES, INC.
              CHANGES ACCOUNTING METHOD FOR RECOGNIZING REVENUE
    LOWELL, Ark., March 5 /PRNewswire/ -- J.B. Hunt Transport Services, Inc. (NASDAQ-NMS: JBHT) announced today it has made a change in its method of recognizing revenue for freight in transit.  The Emerging Issues Task Force (EITF) of the Financial Accounting Standards Board has recently reviewed the various methods used by the transportation industry to recognize revenue and expenses for freight in transit.  On Jan. 23, 1992, the EITF concluded that the accounting policy of recognizing revenue when the shipment is picked up from the customer and expenses when incurred is no longer acceptable.  J.B. Hunt had been recording revenue and expense on this method since before it became a public company in 1983.  The EITF decision, which applies to all transportation companies, will affect a number of motor carriers besides J.B. Hunt.
    The company's new method of accounting recognizes revenue based on relative transit time in each reporting period with expenses recognized as incurred.  The effect of this accounting change will be a one time non-operating charge of $1.6 million ($.05 per share) to after tax earnings for years prior to 1991 and a reduction of $.6 million ($.02 per share) to 1991 earnings.  As a result of this change in revenue recognition method, previously reported net earnings for 1991 have been reduced from $30.1 million ($.87 per share) to $27.9 million ($.80 per share).  Per share data reflect the three-for-two stock split effective Feb. 19, 1992.
    The company elected to implement this change in 1991 so that quarterly earnings for 1991 and 1992 would be comparable (excluding the cumulative effect of the change which will impact the first quarter of 1991).  It is important to note that this accounting change will have no impact on the company's cash flow.  A comparative table which presents all amounts affected by the change follows.
    J.B. Hunt Transport Services, Inc., through its subsidiaries, provides irregular route truckload transportation service throughout the United States, Canada and Mexico.
                       J.B. HUNT TRANSPORT SERVICES, INC.
          SELECTED FINANCIAL DATA IMPACTED BY THE ACCOUNTING CHANGE
                    (In thousands, except per share data)
                               (Unaudited)
                                                                  Full
                                  Quarter - 1991                  Year
                        First    Second     Third      Fourth     1991
     Oper. revenues    $163,544  $175,769  $194,940   $199,035  $733,288
     Net earnings:
      Before cumulative effect
       of change in accounting
       method          $  4,192  $  7,515  $  8,814  $  8,938  $ 29,459
      Cumulative effect of change
       in accounting method,
       net of inc. taxes  1,558       ---       ---       ---     1,558
     Net earnings      $  2,634  $  7,515  $  8,814  $  8,938  $ 27,901
     Earnings per share: (A)
      Before cumulative effect
       of change in accounting
       method          $   0.12  $   0.22  $   0.25  $   0.26  $   0.85
      Cumulative effect of change
       in accounting method,
       net of inc. taxes  (0.05)      ---       ---       ---     (0.05)
     Earnings per share $  0.07  $   0.22  $   0.25  $   0.26  $   0.80
    (A) Reflects three-for-two stock split payable on March 13, 1992, to
    stockholders of record on Feb. 19, 1992.
    -0-                              3/5/92
    /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:  ACC AH -- NY054 -- 5500 03/05/92 13:41 EST
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Publication:PR Newswire
Date:Mar 5, 1992
Words:540
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