Tennessee
|
62-1120025
|
|
(State
or other jurisdiction of incorporation)
|
(I.R.S.
Employer Identification No.)
|
|
430
Airport Road
Greeneville,
Tennessee
|
37745
|
|
(Address
of principal executive offices)
|
(Zip
Code)
|
Large
accelerated filer
o
|
Accelerated
filer
x
|
Non-accelerated
filer
o
|
Smaller
reporting company
o
|
Table
of Contents
|
||
Forward
Air Corporation
|
||
Page
|
||
Number
|
||
Part
I.
|
Financial
Information
|
|
Item
1.
|
Financial
Statements (Unaudited)
|
|
3 | ||
4 | ||
5 | ||
6 | ||
Item
2.
|
13 | |
Item
3.
|
23 | |
Item
4.
|
23 | |
Part
II.
|
Other
Information
|
|
Item
1.
|
23 | |
Item
1A.
|
23 | |
Item
2.
|
23 | |
Item
3.
|
24 | |
Item
4.
|
24 | |
Item
5.
|
24 | |
Item
6.
|
24 | |
25 |
Part
I.
|
Financial
Information
|
Item
1.
|
Financial
Statements (Unaudited).
|
Condensed
Consolidated Balance Sheets
|
|||||
(Dollars
in thousands, except per share amounts)
|
|||||
(Unaudited)
|
|||||
March
31,
|
December
31,
|
||||
2010
|
2009
(a)
|
||||
Assets
|
|||||
Current
assets:
|
|||||
Cash
|
$ | 44,612 | $ | 42,035 | |
Accounts
receivable, less allowance of $2,045 in 2010 and $1,919 in
2009
|
58,425 | 55,720 | |||
Other
current assets
|
7,688 | 9,471 | |||
Total
current assets
|
110,725 | 107,226 | |||
Property
and equipment
|
208,654 | 204,716 | |||
Less
accumulated depreciation and amortization
|
78,323 | 75,990 | |||
Total
property and equipment, net
|
130,331 | 128,726 | |||
Goodwill
and other acquired intangibles:
|
|||||
Goodwill
|
43,332 | 43,332 | |||
Other
acquired intangibles, net of accumulated amortization of $13,429 in 2010
and $12,281 in 2009
|
34,701 | 35,849 | |||
Total
goodwill and other acquired intangibles
|
78,033 | 79,181 | |||
Other
assets
|
1,534 | 1,597 | |||
Total
assets
|
$ | 320,623 | $ | 316,730 | |
Liabilities
and Shareholders’ Equity
|
|||||
Current
liabilities:
|
|||||
Accounts
payable
|
$ | 9,837 | $ | 10,333 | |
Accrued
expenses
|
20,745 | 18,531 | |||
Current
portion of debt and capital lease obligations
|
835 | 919 | |||
Total
current liabilities
|
31,417 | 29,783 | |||
Long-term
debt and capital lease obligations, less current portion
|
51,992 | 52,169 | |||
Other
long-term liabilities
|
4,623 | 4,485 | |||
Deferred
income taxes
|
4,889 | 5,786 | |||
Shareholders’
equity:
|
|||||
Preferred
stock
|
-- | -- | |||
Common
stock, $0.01 par value:
|
|||||
Authorized
shares – 50,000,000
|
|||||
Issued
and outstanding shares – 28,952,441 in 2010 and
28,950,391 in 2009
|
290 | 290 | |||
Additional
paid-in capital
|
18,436 | 16,631 | |||
Retained
earnings
|
208,976 | 207,586 | |||
Total
shareholders’ equity
|
227,702 | 224,507 | |||
Total
liabilities and shareholders’ equity
|
$ | 320,623 | $ | 316,730 | |
(a)
Taken from audited financial statements, which are not presented in their
entirety.
|
Condensed
Consolidated Statements of Operations
|
|||||||
(In
thousands, except per share data)
|
|||||||
(Unaudited)
|
|||||||
Three
months ended
|
|||||||
March
31,
|
March
31,
|
||||||
2010
|
2009
|
||||||
Operating
revenue:
|
|||||||
Forward
Air
|
|||||||
Airport-to-airport
|
$ | 70,888 | $ | 63,055 | |||
Logistics
|
13,855 | 13,044 | |||||
Other
|
5,875 | 5,867 | |||||
Forward
Air Solutions
|
|||||||
Pool
distribution
|
16,359 | 14,650 | |||||
Total
operating revenue
|
106,977 | 96,616 | |||||
Operating
expenses:
|
|||||||
Purchased
transportation
|
|||||||
Forward
Air
|
|||||||
Airport-to-airport
|
28,799 | 26,153 | |||||
Logistics
|
10,768 | 10,279 | |||||
Other
|
1,492 | 1,064 | |||||
Forward
Air Solutions
|
|||||||
Pool
distribution
|
3,442 | 2,632 | |||||
Total
purchased transportation
|
44,501 | 40,128 | |||||
Salaries,
wages and employee benefits
|
30,670 | 29,056 | |||||
Operating
leases
|
6,629 | 6,989 | |||||
Depreciation
and amortization
|
4,949 | 4,858 | |||||
Insurance
and claims
|
2,331 | 2,716 | |||||
Fuel
expense
|
2,058 | 1,682 | |||||
Other
operating expenses
|
9,784 | 9,056 | |||||
Impairment
of goodwill and other intangible assets
|
-- | 7,157 | |||||
Total
operating expenses
|
100,922 | 101,642 | |||||
Income
(loss) from operations
|
6,055 | (5,026 | ) | ||||
Other
income (expense):
|
|||||||
Interest
expense
|
(185 | ) | (141 | ) | |||
Other,
net
|
30 | (22 | ) | ||||
Total
other expense
|
(155 | ) | (163 | ) | |||
Income
(loss) before income taxes
|
5,900 | (5,189 | ) | ||||
Income
tax expense (benefit)
|
2,481 | (2,085 | ) | ||||
Net
income (loss)
|
$ | 3,419 | $ | (3,104 | ) | ||
Net
income (loss) per share:
|
|||||||
Basic
|
$ | 0.12 | $ | (0.11 | ) | ||
Diluted
|
$ | 0.12 | $ | (0.11 | ) | ||
Weighted
average shares outstanding:
|
|||||||
Basic
|
28,951 | 28,906 | |||||
Diluted
|
29,074 | 28,906 | |||||
Dividends
per share:
|
$ | 0.07 | $ | 0.07 |
Condensed
Consolidated Statements of Cash Flows
|
|||||||
(In
thousands)
|
|||||||
(Unaudited)
|
|||||||
Three
months ended
|
|||||||
March
31,
|
March
31,
|
||||||
2010
|
2009
|
||||||
Operating
activities:
|
|||||||
Net
income (loss)
|
$ | 3,419 | $ | (3,104 | ) | ||
Adjustments
to reconcile net income (loss) to net cash provided by operating
activities
|
|||||||
Depreciation
and amortization
|
4,949 | 4,858 | |||||
Impairment
of goodwill and other intangible assets
|
-- | 7,157 | |||||
Share-based
compensation
|
1,763 | 1,780 | |||||
Loss
on sale or disposal of property and equipment
|
1 | 9 | |||||
Provision
for loss (recovery) on receivables
|
90 | (35 | ) | ||||
Provision
for revenue adjustments
|
423 | 794 | |||||
Deferred
income taxes
|
(873 | ) | (1,960 | ) | |||
Tax
benefit for stock options exercised
|
(4 | ) | -- | ||||
Changes
in operating assets and liabilities
|
|||||||
Accounts
receivable
|
(3,218 | ) | 8,006 | ||||
Prepaid
expenses and other current assets
|
1,786 | 705 | |||||
Accounts
payable and accrued expenses
|
1,856 | (1,751 | ) | ||||
Net
cash provided by operating activities
|
10,192 | 16,459 | |||||
Investing
activities:
|
|||||||
Proceeds
from disposal of property and equipment
|
20 | 127 | |||||
Purchases
of property and equipment
|
(5,426 | ) | (4,737 | ) | |||
Other
|
39 | (112 | ) | ||||
Net
cash used in investing activities
|
(5,367 | ) | (4,722 | ) | |||
Financing
activities:
|
|||||||
Payments
of debt and capital lease obligations
|
(261 | ) | (336 | ) | |||
Proceeds
from exercise of stock options
|
38 | -- | |||||
Payments
of cash dividends
|
(2,029 | ) | (2,025 | ) | |||
Cash
settlement of share-based awards for minimum tax
withholdings
|
-- | (228 | ) | ||||
Tax
benefit for stock options exercised
|
4 | -- | |||||
Net
cash used in financing activities
|
(2,248 | ) | (2,589 | ) | |||
Net
increase in cash
|
2,577 | 9,148 | |||||
Cash
at beginning of period
|
42,035 | 22,093 | |||||
Cash
at end of period
|
$ | 44,612 | $ | 31,241 |
1.
|
Basis
of Presentation
|
2.
|
Recent
Accounting Pronouncements
|
2.
|
Recent
Accounting Pronouncements
(continued)
|
3.
|
Comprehensive
Income
|
4.
|
Goodwill
and Long-Lived Assets
|
4.
|
Goodwill
and Long-Lived Assets (continued)
|
5.
|
Share-Based
Payments
|
Three
months ended
|
|||||
March
31,
|
March
31,
|
||||
2010
|
2009
|
||||
Expected
dividend yield
|
1.3 | % | 0.9 | % | |
Expected
stock price volatility
|
45.7 | % | 42.3 | % | |
Weighted
average risk-free interest rate
|
2.5 | % | 2.0 | % | |
Expected
life of options (years)
|
4.5 | 4.5 |
5.
|
Share-Based
Payments (continued)
|
Three
months ended March 31, 2010
|
|||||||||
Weighted-
|
|||||||||
Weighted-
|
Aggregate
|
Average
|
|||||||
Average
|
Intrinsic
|
Remaining
|
|||||||
Options
|
Exercise
|
Value
|
Contractual
|
||||||
(000)
|
Price
|
(000)
|
Term
|
||||||
Outstanding
at December 31, 2009
|
3,086
|
$
|
26
|
||||||
Granted
|
664
|
22
|
|||||||
Exercised
|
2
|
18
|
|||||||
Forfeited
|
9
|
26
|
|||||||
Outstanding
at March 31, 2010
|
3,739
|
$
|
26
|
$
|
--
|
4.9
|
|||
Exercisable
at March 31, 2010
|
2,412
|
$
|
27
|
$
|
--
|
4.3
|
6.
|
Senior
Credit Facility
|
7.
|
Net
Income (Loss) Per Share
|
Three
months ended
|
||||||
March
31,
|
March
31,
|
|||||
2010
|
2009
|
|||||
Numerator:
|
||||||
Numerator
for basic and diluted income (loss) per share - net income
(loss)
|
$ | 3,419 | $ | (3,104 | ) | |
Denominator:
|
||||||
Denominator
for basic income (loss) per share - weighted-average
shares
|
28,951 | 28,906 | ||||
Effect
of dilutive stock options and non-vested shares
|
123 | -- | ||||
Denominator
for diluted income (loss) per share - adjusted weighted-average
shares
|
29,074 | 28,906 | ||||
Basic
income (loss) per share
|
$ | 0.12 | $ | (0.11 | ) | |
Diluted
income (loss) per share
|
$ | 0.12 | $ | (0.11 | ) |
8.
|
Income
Taxes
|
9.
|
Financial
Instruments
|
9.
|
Financial
Instruments (continued)
|
March
31, 2010
|
|||||
Carrying
|
Fair
|
||||
Value
|
Value
|
||||
Senior
credit facility
|
$ | 50,000 | $ | 47,649 | |
Debt
and capital leases
|
2,827 | 3,053 |
10.
|
Shareholders'
Equity
|
11.
|
Commitments
and Contingencies
|
12.
|
Segment
Reporting
|
12.
|
Segment
Reporting (continued)
|
Three
months ended March 31, 2010
|
|||||||||||||
Forward
Air
|
FASI
|
Eliminations
|
Consolidated
|
||||||||||
External
revenues
|
$ | 90,618 | $ | 16,359 | $ | -- | $ | 106,977 | |||||
Intersegment
revenues
|
274 | 68 | (342 | ) | -- | ||||||||
Depreciation
and amortization
|
4,039 | 910 | -- | 4,949 | |||||||||
Stock-based
compensation expense
|
1,655 | 108 | -- | 1,763 | |||||||||
Interest
expense
|
168 | 17 | -- | 185 | |||||||||
Interest
income
|
5 | 2 | -- | 7 | |||||||||
Income
tax expense (benefit)
|
2,901 | (420 | ) | -- | 2,481 | ||||||||
Net
income (loss)
|
4,125 | (706 | ) | -- | 3,419 | ||||||||
Total
assets
|
320,120 | 38,956 | (38,453 | ) | 320,623 | ||||||||
Capital
expenditures
|
2,651 | 2,775 | -- | 5,426 |
Three
months ended March 31, 2009
|
||||||||||||||
Forward
Air
|
FASI
|
Eliminations
|
Consolidated
|
|||||||||||
External
revenues
|
$ | 81,966 | $ | 14,650 | $ | -- | $ | 96,616 | ||||||
Intersegment
revenues
|
192 | 108 | (300 | ) | -- | |||||||||
Depreciation
and amortization
|
3,946 | 912 | -- | 4,858 | ||||||||||
Stock-based
compensation expense
|
1,715 | 65 | -- | 1,780 | ||||||||||
Impairment
of goodwill and other intangible assets
|
204 | 6,953 | -- | 7,157 | ||||||||||
Interest
expense
|
112 | 29 | -- | 141 | ||||||||||
Interest
income
|
19 | 2 | -- | 21 | ||||||||||
Income
tax expense (benefit)
|
1,355 | (3,440 | ) | -- | (2,085 | ) | ||||||||
Net
income (loss)
|
2,289 | (5,393 | ) | -- | (3,104 | ) | ||||||||
Total
assets
|
300,260 | 37,073 | (36,345 | ) | 300,988 | |||||||||
Capital
expenditures
|
4,223 | 514 | -- | 4,737 |
Three
months ended
|
|||||||||||||||
March
31,
|
March
31,
|
Percent
|
|||||||||||||
2010
|
2009
|
Change
|
Change
|
||||||||||||
Operating
revenue
|
$ | 107.0 | $ | 96.6 | $ | 10.4 | 10.8 | % | |||||||
Operating
expenses:
|
|||||||||||||||
Purchased
transportation
|
44.5 | 40.1 | 4.4 | 11.0 | |||||||||||
Salaries,
wages, and employee benefits
|
30.7 | 29.1 | 1.6 | 5.5 | |||||||||||
Operating
leases
|
6.6 | 7.0 | (0.4 | ) | (5.7 | ) | |||||||||
Depreciation
and amortization
|
4.9 | 4.8 | 0.1 | 2.1 | |||||||||||
Insurance
and claims
|
2.3 | 2.7 | (0.4 | ) | (14.8 | ) | |||||||||
Fuel
expense
|
2.1 | 1.7 | 0.4 | 23.5 | |||||||||||
Other
operating expenses
|
9.8 | 9.0 | 0.8 | 8.9 | |||||||||||
Impairment
of goodwill and other intangible assets
|
-- | 7.2 | (7.2 | ) | (100.0 | ) | |||||||||
Total
operating expenses
|
100.9 | 101.6 | (0.7 | ) | (0.7 | ) | |||||||||
Income
(loss) from operations
|
6.1 | (5.0 | ) | 11.1 | 222.0 | ||||||||||
Other
income (expense):
|
|||||||||||||||
Interest
expense
|
(0.2 | ) | (0.2 | ) | -- | -- | |||||||||
Other,
net
|
-- | -- | -- | -- | |||||||||||
Total
other (expense) income
|
(0.2 | ) | (0.2 | ) | -- | -- | |||||||||
Income
(loss) before income taxes
|
5.9 | (5.2 | ) | 11.1 | (213.5 | ) | |||||||||
Income
taxes
|
2.5 | (2.1 | ) | 4.6 | (219.0 | ) | |||||||||
Net
income (loss)
|
$ | 3.4 | $ | (3.1 | ) | $ | 6.5 | (209.7 | ) | % |
Three
months ended
|
||||||||||||||||||||||
March
31,
|
Percent
of
|
March
31,
|
Percent
of
|
Percent
|
||||||||||||||||||
2010
|
Revenue
|
2009
|
Revenue
|
Change
|
Change
|
|||||||||||||||||
Operating
revenue
|
||||||||||||||||||||||
Forward
Air
|
$
|
90.9
|
85.0
|
%
|
$
|
82.1
|
85.0
|
%
|
$
|
8.8
|
10.7
|
%
|
||||||||||
FASI
|
16.4
|
15.3
|
14.8
|
15.3
|
1.6
|
10.8
|
||||||||||||||||
Intercompany
Eliminations
|
(0.3
|
)
|
(0.3
|
)
|
(0.3
|
)
|
(0.3
|
)
|
--
|
--
|
||||||||||||
Total
|
107.0
|
100.0
|
96.6
|
100.0
|
10.4
|
10.8
|
||||||||||||||||
Purchased
transportation
|
||||||||||||||||||||||
Forward
Air
|
41.1
|
45.2
|
37.6
|
45.8
|
3.5
|
9.3
|
||||||||||||||||
FASI
|
3.7
|
22.6
|
2.8
|
19.0
|
0.9
|
32.1
|
||||||||||||||||
Intercompany
Eliminations
|
(0.3
|
)
|
100.0
|
(0.3
|
)
|
100.0
|
--
|
--
|
||||||||||||||
Total
|
44.5
|
41.6
|
40.1
|
41.5
|
4.4
|
11.0
|
||||||||||||||||
Salaries,
wages and employee benefits
|
||||||||||||||||||||||
Forward
Air
|
23.4
|
25.7
|
21.5
|
26.2
|
1.9
|
8.8
|
||||||||||||||||
FASI
|
7.3
|
44.5
|
7.6
|
51.3
|
(0.3
|
)
|
(3.9
|
)
|
||||||||||||||
Total
|
30.7
|
28.7
|
29.1
|
30.1
|
1.6
|
5.5
|
||||||||||||||||
Operating
leases
|
||||||||||||||||||||||
Forward
Air
|
4.5
|
5.0
|
4.8
|
5.8
|
(0.3
|
)
|
(6.3
|
)
|
||||||||||||||
FASI
|
2.1
|
12.8
|
2.2
|
14.8
|
(0.1
|
)
|
(4.5
|
)
|
||||||||||||||
Total
|
6.6
|
6.2
|
7.0
|
7.2
|
(0.4
|
)
|
(5.7
|
)
|
||||||||||||||
Depreciation
and amortization
|
||||||||||||||||||||||
Forward
Air
|
4.0
|
4.4
|
3.9
|
4.8
|
0.1
|
2.6
|
||||||||||||||||
FASI
|
0.9
|
5.5
|
0.9
|
6.1
|
--
|
--
|
||||||||||||||||
Total
|
4.9
|
4.6
|
4.8
|
5.0
|
0.1
|
2.1
|
||||||||||||||||
Insurance
and claims
|
||||||||||||||||||||||
Forward
Air
|
1.8
|
2.0
|
2.2
|
2.7
|
(0.4
|
)
|
(18.2
|
)
|
||||||||||||||
FASI
|
0.5
|
3.0
|
0.5
|
3.4
|
--
|
--
|
||||||||||||||||
Total
|
2.3
|
2.1
|
2.7
|
2.8
|
(0.4
|
)
|
(14.8
|
)
|
||||||||||||||
Fuel
expense
|
||||||||||||||||||||||
Forward
Air
|
0.9
|
1.0
|
0.7
|
0.9
|
0.2
|
28.6
|
||||||||||||||||
FASI
|
1.2
|
7.3
|
1.0
|
6.8
|
0.2
|
20.0
|
||||||||||||||||
Total
|
2.1
|
2.0
|
1.7
|
1.8
|
0.4
|
23.5
|
||||||||||||||||
Other
operating expenses
|
||||||||||||||||||||||
Forward
Air
|
8.0
|
8.8
|
7.4
|
9.0
|
0.6
|
8.1
|
||||||||||||||||
FASI
|
1.8
|
11.0
|
1.6
|
10.8
|
0.2
|
12.5
|
||||||||||||||||
Total
|
9.8
|
9.1
|
9.0
|
9.3
|
0.8
|
8.9
|
||||||||||||||||
Impairment
of goodwill and other intangible assets
|
||||||||||||||||||||||
|
||||||||||||||||||||||
Forward
Air
|
--
|
--
|
0.2
|
0.2
|
(0.2
|
)
|
(100.0
|
)
|
||||||||||||||
FASI
|
--
|
--
|
7.0
|
47.3
|
(7.0
|
)
|
(100.0
|
)
|
||||||||||||||
Total
|
--
|
--
|
7.2
|
7.5
|
(7.2
|
)
|
(100.0
|
)
|
||||||||||||||
Income
(loss) from operations
|
||||||||||||||||||||||
Forward
Air
|
7.2
|
7.9
|
3.8
|
4.6
|
3.4
|
89.5
|
||||||||||||||||
FASI
|
(1.1
|
)
|
(6.7
|
)
|
(8.8
|
)
|
(59.5
|
)
|
7.7
|
(87.5
|
)
|
|||||||||||
Total
|
$
|
6.1
|
5.7
|
%
|
$
|
(5.0
|
)
|
(5.2
|
)
|
%
|
$
|
11.1
|
(222.0
|
)
|
%
|
Three
months ended
|
|||||||||||||||||
March
31,
|
Percent
of
|
March
31
|
Percent
of
|
Percent
|
|||||||||||||
2010
|
Revenue
|
2009
|
Revenue
|
Change
|
Change
|
||||||||||||
Forward
Air revenue
|
|||||||||||||||||
Airport-to-airport
|
$
|
71.0
|
78.1
|
%
|
$
|
63.2
|
77.0
|
%
|
$
|
7.8
|
12.3
|
%
|
|||||
Logistics
|
14.0
|
15.4
|
13.1
|
15.9
|
0.9
|
6.9
|
|||||||||||
Other
|
5.9
|
6.5
|
5.8
|
7.1
|
0.1
|
1.7
|
|||||||||||
Total
|
$
|
90.9
|
100.0
|
%
|
$
|
82.1
|
100.0
|
%
|
$
|
8.8
|
10.7
|
%
|
|||||
Forward
Air purchased transportation
|
|||||||||||||||||
Airport-to-airport
|
$
|
28.8
|
40.6
|
%
|
$
|
26.2
|
41.5
|
%
|
$
|
2.6
|
9.9
|
%
|
|||||
Logistics
|
10.8
|
77.1
|
10.3
|
78.6
|
0.5
|
4.9
|
|||||||||||
Other
|
1.5
|
25.4
|
1.1
|
19.0
|
0.4
|
36.4
|
|||||||||||
Total
|
$
|
41.1
|
45.2
|
%
|
$
|
37.6
|
45.8
|
%
|
$
|
3.5
|
9.3
|
%
|
Item
4.
|
Part
II.
|
Other
Information
|
Item
1.
|
Item
1A.
|
Item
3.
|
Item
5.
|
Item
6.
|
No.
|
Exhibit
|
|
3.1
|
Restated
Charter of the registrant (incorporated herein by reference to Exhibit 3
to the registrant’s Current Report on Form 8-K filed with the Securities
and Exchange Commission on May 28, 1999)
|
|
3.2
|
Amended
and Restated Bylaws of the registrant (incorporated herein by reference to
Exhibit 3-1 to the registrant’s Current Report on Form 8-K filed with the
Commission on July 6, 2009)
|
|
4.1
|
Form
of Forward Air Corporation Common Stock Certificate (incorporated herein
by reference to Exhibit 4.1 to the registrant’s Quarterly Report on Form
10-Q for the quarterly period ended September 30, 1998, filed with the
Securities and Exchange Commission on November 16,
1998)
|
|
31.1
|
Certification
of Chief Executive Officer Pursuant to Exchange Act Rule 13a-14(a) (17 CFR
240.13a-14(a))
|
|
31.2
|
Certification
of Chief Financial Officer Pursuant to Exchange Act Rule 13a-14(a) (17 CFR
240.13a-14(a))
|
|
32.1
|
Certification
of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of
2002
|
|
32.2
|
Certification
of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of
2002
|
Forward
Air Corporation
|
||
Date:
April 29, 2010
|
By:
|
/s/
Rodney L. Bell
|
Rodney
L. Bell
Chief
Financial Officer, Senior Vice President and Treasurer
(Principal
Financial Officer)
|
By:
|
/s/
Michael P. McLean
|
|
Michael
P. McLean
Chief
Accounting Officer, Vice President and Controller
(Principal
Accounting Officer)
|
No.
|
Exhibit
|
|
3.1
|
Restated
Charter of the registrant (incorporated herein by reference to Exhibit 3
to the registrant’s Current Report on Form 8-K filed with the Securities
and Exchange Commission on May 28, 1999)
|
|
3.2
|
Amended
and Restated Bylaws of the registrant (incorporated herein by reference to
Exhibit 3-1 to the registrant’s Current Report on Form 8-K filed with the
Commission on July 6, 2009)
|
|
4.1
|
Form
of Forward Air Corporation Common Stock Certificate (incorporated herein
by reference to Exhibit 4.1 to the registrant’s Quarterly Report on Form
10-Q for the quarterly period ended September 30, 1998, filed with the
Securities and Exchange Commission on November 16,
1998)
|
|
31.1
|
Certification
of Chief Executive Officer Pursuant to Exchange Act Rule 13a-14(a) (17 CFR
240.13a-14(a))
|
|
31.2
|
Certification
of Chief Financial Officer Pursuant to Exchange Act Rule 13a-14(a) (17 CFR
240.13a-14(a))
|
|
32.1
|
Certification
of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of
2002
|
|
32.2
|
Certification
of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted
Pursuant to Section 906 of the Sarbanes-Oxley Act of
2002
|