Revenue during the quarter dropped 19.79 percent to $140.04 million from $174.60 million in the previous year period. Gross margin for the quarter contracted 395 basis points over the previous year period to 71.61 percent. Total expenses were 85.08 percent of quarterly revenues, up from 84.12 percent for the same period last year. That has resulted in a contraction of 95 basis points in operating margin to 14.92 percent.

Operating income for the quarter was $20.90 million, compared with $27.72 million in the previous year period.

Heartland Express Chief Executive Officer Michael Gerdin, commented on the operating results and ongoing initiatives of the Company, "We delivered solid operating results as evidenced by our mid-80's operating ratios and cash generated from our operations for the three and twelve months ended December 31, 2016. In addition, our operating ratio has improved year over year before the effects of the decrease in gain on disposal of property and equipment. Gains on disposal of property and equipment declined $25.8 million year over year as a result of less trade activity in 2016 following our fleet upgrade in 2015. These results were achieved even though our top-line revenue was challenged by significant pricing pressure from shippers attempting to capitalize on short-term excess capacity in the industry. When faced with short-term industry challenges we chose to focus internally on our operations to allow us to deliver the highest level of service while still operating profitably to generate incremental cash reserves. I am proud of our team and our accomplishments in 2016 and we believe we are properly positioned to navigate the exciting road ahead and capitalize on new opportunities."