Revenue during the quarter dropped 18.20 percent to $149.32 million from $182.53 million in the previous year period. Gross margin for the quarter expanded 235 basis points over the previous year period to 74.68 percent. Total expenses were 86.66 percent of quarterly revenues, up from 86.38 percent for the same period last year. That has resulted in a contraction of 28 basis points in operating margin to 13.34 percent.

Operating income for the quarter was $19.91 million, compared with $24.86 million in the previous year period.

Heartland Express Chief Executive Officer Michael Gerdin, commented on the quarterly operating results and ongoing initiatives of the Company, "The results achieved during the quarter and year-to-date have been hard fought and are a result of us holding fast to the foundational principles that have made us successful over the last thirty years during both good times and challenging times. We have continued to experience downward pressure on freight rates due to the softness in freight volumes resulting from the available capacity in the industry. Through this, our commitment and dedication to on-time service for our customers and their partnership during these challenging times drives our profitable results. We continued to show year over year improvement in our operating ratio, excluding gains on disposal of property and equipment, for both the current quarter and the year to date results. Further, we were able to generate another quarter of solid cash flows from operations, which allowed us to increase our cash reserves and pay for capital expenditures while remaining debt free. This allows us to operate profitably and maintain an efficient fleet of equipment while keeping resources in reserve to capitalize on future investment opportunities that align with our operating strategy and our corporate values."

Days sales outstanding went up to 41 days for the quarter compared with 36 days for the same period last year.