**UNITED      STATES**

**SECURITIES      AND EXCHANGE COMMISSION**

**Washington,      DC 20549**

**FORM      10-Q**

**HUB      GROUP, INC.**

**(Exact      name of registrant as specified in its charter)**

| **Delaware**                                                                  | **36-4007085**                                      |
|-------------------------------------------------------------------------------|-----------------------------------------------------|
| (State                or other jurisdiction of incorporation or organization) | (I.R.S.                Employer Identification No.) |

**3050      Highland Parkway, Suite 100**

**Downers      Grove, Illinois 60515**

**(630)      271-3600**

**HUB      GROUP, INC.**

**INDEX**

|                                                                                                                                                      | **Page** |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
| **PART                I. Financial Information:**                                                                                                         |     |
|                                                                                                                                                      |     |
| **Hub                Group, Inc. - Registrant**                                                                                                           |     |
|                                                                                                                                                      |     |
| Condensed                Consolidated Balance Sheets - March 31, 2007 (unaudited) and December                31,                2006                     | 3        |
|                                                                                                                                                      |     |
| Unaudited                Condensed Consolidated Statements of Income - Three Months Ended                March 31,                2007 and 2006           | 4        |
|                                                                                                                                                      |     |
| Unaudited                Condensed Consolidated Statement of Stockholders’ Equity - Three Months                Ended March                31, 2007 | 5        |
|                                                                                                                                                      |     |
| Unaudited                Condensed Consolidated Statements of Cash Flows - Three Months Ended                March                31, 2007 and 2006       | 6        |
|                                                                                                                                                      |     |
| Notes                to Unaudited Condensed Consolidated Financial Statements                                                                             | 7        |
|                                                                                                                                                      |     |
| Management’s                Discussion and Analysis of Financial Condition and Results of                Operations                                 | 9        |
|                                                                                                                                                      |     |
| Quantitative                and Qualitative Disclosures related to Market Risk                                                                            | 15       |
|                                                                                                                                                      |     |
| Controls                and Procedures                                                                                                                    | 15       |
|                                                                                                                                                      |     |
| **PART                II. Other Information**                                                                                                             | 16       |

| **HUB                GROUP, INC.**                                                                                                                                                                                                          |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| **CONSOLIDATED                BALANCE SHEETS**                                                                                                                                                                                              |   |
| **(in                thousands, except share amounts)**                                                                                                                                                                                     |   |
|                                                                                                                                                                                                                                        |   |   |   |
|                                                                                                                                                                                                                                        |   | **March                31,****2007** |   | **December                31,****2006** |   |
| ASSETS                                                                                                                                                                                                                                      |   |   |   |   |   |   |   |
| CURRENT                ASSETS:                                                                                                                                                                                                              |   |   |   |   |   |   |   |
| Cash                and cash equivalents                                                                                                                                                                                                    |   | $ | 34,730 |   | $ | 43,491 |   |
| Accounts                receivable                                                                                                                                                                                                          |   |   |   |   |   |   |   |
| Trade,                net                                                                                                                                                                                                                   |   |   | 150,772 |   |   | 158,284 |   |
| Other                                                                                                                                                                                                                                       |   |   | 8,078 |   |   | 8,369 |   |
| Prepaid                taxes                                                                                                                                                                                                                |   |   | 1,098 |   |   | 3,202 |   |
| Deferred                taxes                                                                                                                                                                                                               |   |   | 3,424 |   |   | 3,433 |   |
| Prepaid                expenses and other current assets                                                                                                                                                                                    |   |   | 6,794 |   |   | 4,450 |   |
| TOTAL                CURRENT ASSETS                                                                                                                                                                                                         |   |   | 204,896 |   |   | 221,229 |   |
|                                                                                                                                                                                                                                        |   |   |   |   |   |   |   |
| Restricted                investments                                                                                                                                                                                                       |   |   | 4,278 |   |   | 3,017 |   |
| Property                and equipment, net                                                                                                                                                                                                  |   |   | 27,342 |   |   | 26,974 |   |
| Other                intangibles, net                                                                                                                                                                                                       |   |   | 7,391 |   |   | 7,502 |   |
| Goodwill,                net                                                                                                                                                                                                                |   |   | 225,448 |   |   | 225,448 |   |
| Other                assets                                                                                                                                                                                                                 |   |   | 419 |   |   | 378 |   |
| TOTAL                ASSETS                                                                                                                                                                                                                 |   | $ | 469,774 |   | $ | 484,548 |   |
| LIABILITIES                AND STOCKHOLDERS' EQUITY                                                                                                                                                                                         |   |   |   |   |   |   |   |
| CURRENT                LIABILITIES:                                                                                                                                                                                                         |   |   |   |   |   |   |   |
| Accounts                payable                                                                                                                                                                                                             |   |   |   |   |   |   |   |
| Trade                                                                                                                                                                                                                                       |   | $ | 110,441 |   | $ | 117,676 |   |
| Other                                                                                                                                                                                                                                       |   |   | 6,826 |   |   | 6,839 |   |
| Accrued                expenses                                                                                                                                                                                                             |   |   |   |   |   |   |   |
| Payroll                                                                                                                                                                                                                                     |   |   | 8,545 |   |   | 18,294 |   |
| Other                                                                                                                                                                                                                                       |   |   | 31,567 |   |   | 26,617 |   |
|                        Related party payable                                                                                                                                                             |   |   | - |   |   | 5,000 |   |
| TOTAL                CURRENT LIABILITIES                                                                                                                                                                                                    |   |   | 157,379 |   |   | 174,426 |   |
| Non-current                liabilities                                                                                                                                                                                                      |   |   | 10,989 |   |   | 7,691 |   |
| Deferred                taxes                                                                                                                                                                                                               |   |   | 41,295 |   |   | 43,587 |   |
| STOCKHOLDERS'                EQUITY:                                                                                                                                                                                                        |   |   |   |   |   |   |   |
| Preferred                stock, $.01 par value; 2,000,000 shares authorized; no shares issued                or                outstanding in 2007 and 2006                                                                                 |   |   | - |   |   | - |   |
| Common                stock                                                                                                                                                                                                                 |   |   |   |   |   |   |   |
| Class                A: $.01 par value; 47,337,700 shares authorized; 41,224,792 shares                issued                and 38,789,847 outstanding in 2007; 41,224,792 shares issued and                38,943,122 outstanding in 2006 |   |   | 412 |   |   | 412 |   |
| Class                B: $.01 par value; 662,300 shares authorized; 662,296 shares issued                and                outstanding in 2007 and 2006                                                                                     |   |   | 7 |   |   | 7 |   |
| Additional                paid-in capital                                                                                                                                                                                                   |   |   | 175,779 |   |   | 179,203 |   |
| Purchase                price in excess of predecessor basis, net of tax benefit of                $10,306                                                                                                                                  |   |   | (15,458 | ) |   | (15,458 | ) |
| Retained                earnings                                                                                                                                                                                                            |   |   | 157,662 |   |   | 146,243 |   |
| Treasury                stock; at cost, 2,434,945 shares in 2007 and 2,281,670 shares in                2006                                                                                                                                |   |   | (58,291 | ) |   | (51,563 | ) |
| TOTAL                STOCKHOLDERS' EQUITY                                                                                                                                                                                                   |   |   | 260,111 |   |   | 258,844 |   |
| TOTAL                LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                                                                   |   | $ | 469,774 |   | $ | 484,548 |   |

| **HUB                GROUP, INC.**                                                                |   |
|---------------------------------------------------------------------------------------------------|--------|
| **CONSOLIDATED                STATEMENTS OF INCOME**                                              |   |
| **(in                thousands, except per share amounts)**                                       |   |
|                                                                                              |   | **Three                Months** |   |
|                                                                                              |   | **Ended                March 31,** |   |
|                                                                                              |   | **2007** |   | **2006** |   |
|                                                                                              |   |   |   |   |   |
| Revenue                                                                                           |   | $ | 393,297 |   | $ | 356,764 |   |
| Transportation                costs                                                               |   |   | 336,636 |   |   | 309,391 |   |
| Gross                margin                                                                       |   |   | 56,661 |   |   | 47,373 |   |
|                                                                                              |   |   |   |   |   |   |   |
| Costs                and expenses:                                                                |   |   |   |   |   |   |   |
| Salaries                and benefits                                                              |   |   | 25,610 |   |   | 22,881 |   |
| General                and administrative                                                         |   |   | 11,601 |   |   | 8,969 |   |
| Depreciation                and amortization                                                      |   |   | 1,172 |   |   | 1,859 |   |
| Total                costs and expenses                                                           |   |   | 38,383 |   |   | 33,709 |   |
|                                                                                              |   |   |   |   |   |   |   |
| Operating                income                                                                   |   |   | 18,278 |   |   | 13,664 |   |
|                                                                                              |   |   |   |   |   |   |   |
| Other                income (expense):                                                            |   |   |   |   |   |   |   |
| Interest                expense                                                                   |   |   | (21 | ) |   | (18 | ) |
| Interest                income                                                                    |   |   | 645 |   |   | 446 |   |
| Other,                net                                                                         |   |   | 3 |   |   | 30 |   |
| Total                other income                                                                 |   |   | 627 |   |   | 458 |   |
|                                                                                              |   |   |   |   |   |   |   |
| Income                from continuing operations before provision for income                taxes |   |   | 18,905 |   |   | 14,122 |   |
|                                                                                              |   |   |   |   |   |   |   |
| Provision                for income taxes                                                         |   |   | 7,486 |   |   | 5,649 |   |
|                                                                                              |   |   |   |   |   |   |   |
| Income                from continuing operations                                                  |   |   | 11,419 |   |   | 8,473 |   |
|                                                                                              |   |   |   |   |   |   |   |
| Discontinued                operations:                                                           |   |   |   |   |   |   |   |
| Income                from discontinued operations of HGDS                                        |   |   | - |   |   | 1,094 |   |
| Provision                for income taxes                                                         |   |   | - |   |   | 437 |   |
| Income                from discontinued operations                                                |   |   | - |   |   | 657 |   |
|                                                                                              |   |   |   |   |   |   |   |
| Net                income                                                                         |   | $ | 11,419 |   | $ | 9,130 |   |
|                                                                                              |   |   |   |   |   |   |   |
| Basic                earnings per common share                                                    |   |   |   |   |   |   |   |
| Income                from continuing operations                                                  |   | $ | 0.29 |   | $ | 0.21 |   |
| Income                from discontinued operations                                                |   | $ | - |   | $ | 0.02 |   |
| Net                income                                                                         |   | $ | 0.29 |   | $ | 0.23 |   |
|                                                                                              |   |   |   |   |   |   |   |
| Diluted                earnings per common share                                                  |   |   |   |   |   |   |   |
| Income                from continuing operations                                                  |   | $ | 0.29 |   | $ | 0.21 |   |
| Income                from discontinued operations                                                |   | $ | - |   | $ | 0.01 |   |
| Net                income                                                                         |   | $ | 0.29 |   | $ | 0.22 |   |
|                                                                                              |   |   |   |   |   |   |   |
| Basic                weighted average number of shares outstanding                                |   |   | 39,257 |   |   | 40,196 |   |
| Diluted                weighted average number of shares outstanding                              |   |   | 39,766 |   |   | 41,302 |   |

| **HUB                GROUP, INC**                                                                     |   |
|-------------------------------------------------------------------------------------------------------|--------|
| **CONSOLIDATED                STATEMENTS OF STOCKHOLDERS’ EQUITY**                              |   |
| **For                the three months ended March 31, 2007**                                          |   |
| **(in                thousands, except shares)**                                                      |   |
|                                                                                                  |   |   |   |
|                                                                                                  |   | **March                31,** |   |
|                                                                                                  |   | **2007** |   |
| Class                A & B Common Stock Shares Outstanding                                        |   |   |   |   |
| Beginning                of year                                                                      |   |   | 39,605,418 |   |
| Purchase                of treasury shares                                                            |   |   | (415,724 | ) |
| Treasury                shares issued for restricted stock and stock options                exercised |   |   | 262,449 |   |
| Ending                balance                                                                         |   |   | 39,452,143 |   |
|                                                                                                  |   |   |   |   |
| Class                A & B Common Stock Amount                                                    |   |   |   |   |
| Beginning                of year                                                                      |   | $ | 419 |   |
| Ending                balance                                                                         |   |   | 419 |   |
|                                                                                                  |   |   |   |   |
| Additional                Paid-in Capital                                                             |   |   |   |   |
| Beginning                of year                                                                      |   |   | 179,203 |   |
| Exercise                of non-qualified stock options                                                |   |   | (2,124 | ) |
| Share-based                compensation expense                                                       |   |   | 960 |   |
| Tax                benefit of share-based compensation plans                                          |   |   | 1,380 |   |
| Issuance                of restricted stock awards, net of forfeitures                                |   |   | (3,640 | ) |
| Ending                balance                                                                         |   |   | 175,779 |   |
|                                                                                                  |   |   |   |   |
| Purchase                Price in Excess of Predecessor Basis, Net of Tax                              |   |   |   |   |
| Beginning                of year                                                                      |   |   | (15,458 | ) |
| Ending                balance                                                                         |   |   | (15,458 | ) |
|                                                                                                  |   |   |   |   |
| Retained                Earnings                                                                      |   |   |   |   |
| Beginning                of year                                                                      |   |   | 146,243 |   |
| Net                income                                                                             |   |   | 11,419 |   |
| Ending                balance                                                                         |   |   | 157,662 |   |
|                                                                                                  |   |   |   |   |
| Treasury                Stock                                                                         |   |   |   |   |
| Beginning                of year                                                                      |   |   | (51,563 | ) |
| Purchase                of treasury shares                                                            |   |   | (12,740 | ) |
| Issuance                of restricted stock and exercise of stock options                             |   |   | 6,012 |   |
| Ending                balance                                                                         |   |   | (58,291 | ) |
|                                                                                                  |   |   |   |   |
| Total                stockholders’ equity                                                       |   | $ | 260,111 |   |

| **HUB                GROUP, INC.**                                                                                                     |   |
|----------------------------------------------------------------------------------------------------------------------------------------|--------|
| **UNAUDITED                CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**                                                           |   |
| **(in                thousands)**                                                                                                      |   |
|                                                                                                                                   |   | **Three                Months Ended March 31,** |   |
|                                                                                                                                   |   | **2007** |   | **2006** |   |
| Cash                flows from operating activities:                                                                                   |   |   |   |   |   |   |   |
|                   Income from continuing operations                                                                          |   | $ | 11,419 |   | $ | 8,473 |   |
|                   Adjustments to reconcile income from continuing operations to net                cash                      |   |   |   |   |   |   |   |
|                    provided by operating activities:                                                                    |   |   |   |   |   |   |   |
|                      Depreciation and amortization                                                            |   |   | 1,804 |   |   | 2,176 |   |
|                      Deferred taxes                                                                           |   |   | 1,652 |   |   | 917 |   |
|                      Compensation expense related to share-based compensation                plans            |   |   | 960 |   |   | 771 |   |
|                      Loss on sale of assets                                                                   |   |   | 2 |   |   | 26 |   |
|    Changes                in operating assets and liabilities excluding effects of purchase                transaction: |   |   |   |   |   |   |   |
|                         Restricted investments                                                 |   |   | (1,261 | ) |   | (586 | ) |
|                         Accounts receivable, net                                               |   |   | 7,803 |   |   | 18,172 |   |
|                         Prepaid taxes                                                          |   |   | 2,104 |   |   | (125 | ) |
|                         Prepaid expenses and other current assets                              |   |   | (2,344 | ) |   | (1,628 | ) |
|                         Other assets                                                           |   |   | (41 | ) |   | 299 |   |
|                         Accounts payable                                                       |   |   | (7,248 | ) |   | (5,090 | ) |
|                         Accrued expenses                                                       |   |   | (4,799 | ) |   | (8,292 | ) |
|                         Non-current liabilities                                                |   |   | (637 | ) |   | (80 | ) |
|                            Net cash provided by operating activities            |   |   | 9,414 |   |   | 15,033 |   |
|                   Cash flows from investing activities:                                                                      |   |   |   |   |   |   |   |
|                      Proceeds from sale of equipment                                                          |   |   | 15 |   |   | 26 |   |
|                      Purchases of property and equipment                                                      |   |   | (2,078 | ) |   | (1,047 | ) |
|                      Cash used in acquisition of Comtrak, Inc.                                                |   |   | (5,000 | ) |   | (40,491 | ) |
|                            Net cash used in investing activities                |   |   | (7,063 | ) |   | (41,512 | ) |
|                   Cash flows from financing activities:                                                                      |   |   |   |   |   |   |   |
|                      Proceeds from stock options exercised                                                    |   |   | 248 |   |   | 1,141 |   |
|                      Purchase of treasury stock                                                               |   |   | (12,740 | ) |   | (38 | ) |
|                      Excess tax benefits from share-based compensation                                        |   |   | 1,380 |   |   | 4,767 |   |
|                            Net cash (used in) provided by financing activities  |   |   | (11,112 | ) |   | 5,870 |   |
|                                                                                                                                   |   |   |   |   |   |   |   |
| Cash                flows from operating activities of discontinued operations                                                         |   |   | - |   |   | 1,822 |   |
| Cash                flows used in investing activities of discontinued                operations                                       |   |   | - |   |   | (32 | ) |
|                            Net cash provided by discontinued operations         |   |   | - |   |   | 1,790 |   |
|                                                                                                                                   |   |   |   |   |   |   |   |
| Net                decrease in cash and cash equivalents                                                                               |   |   | (8,761 | ) |   | (18,819 | ) |
| Cash                and cash equivalents beginning of period                                                                           |   |   | 43,491 |   |   | 36,133 |   |
| Cash                and cash equivalents end of period                                                                                 |   | $ | 34,730 |   | $ | 17,314 |   |
|                                                                                                                                   |   |   |   |   |   |   |   |
| Supplemental                disclosures of cash paid for:                                                                              |   |   |   |   |   |   |   |
|                      Interest                                                                                 |   | $ | 21 |   | $ | 17 |   |
|                      Income taxes                                                                             |   | $ | 232 |   | $ | 91 |   |

**HUB      GROUP, INC.**

**NOTES      TO UNAUDITED CONDENSED**

**CONSOLIDATED      FINANCIAL STATEMENTS**

**NOTE      1.**
**Interim      Financial Statements**

**NOTE      2.**
**Share-Based      Compensation**

**NOTE      3.**
**Earnings      Per Share**

|                                               |   | **Three                Months Ended** |   | **Three                Months Ended** |   |
|----------------------------------------------------|--------|---------------------------------------|--------|---------------------------------------|--------|
|                                               |   | **March                31, 2007**     |   | **March                31, 2006**     |   |
|                                               |   | **(000’s)**                     |   | **(000’s)**                     |   |
|                                               |   | Income                                |   | Shares                                |   | Per                Share Amount |   | Income |   | Shares |   | Per                Share Amount |   |
| **Basic                EPS**                       |   |                                  |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income                from continuing operations   |   | $                                     | 11,419 |                                  |   | 39,257 |   | $ | 0.29 |   | $ | 8,473 |   |   | 40,196 |   | $ | 0.21 |   |
| Income                from discontinued operations |   |                                  | -      |                                  |   | 39,257 |   |   | - |   |   | 657 |   |   | 40,196 |   |   | 0.02 |   |
| Net                Income                          |   | $                                     | 11,419 |                                  |   | 39,257 |   | $ | 0.29 |   | $ | 9,130 |   |   | 40,196 |   | $ | 0.23 |   |
|                                               |   |                                  |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Effect                of Dilutive Securities**   |   |                                  |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Stock                options and restricted stock  |   |                                  | -      |                                  |   | 509 |   |   | - |   |   | - |   |   | 1,106 |   |   | - |   |
|                                               |   |                                  |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| **Diluted                EPS**                     |   |                                  |   |                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income                from continuing operations   |   | $                                     | 11,419 |                                  |   | 39,766 |   | $ | 0.29 |   | $ | 8,473 |   |   | 41,302 |   | $ | 0.21 |   |
| Income                from discontinued operations |   |                                  | -      |                                  |   | 39,766 |   |   | - |   |   | 657 |   |   | 41,302 |   |   | 0.01 |   |
| Net                Income                          |   | $                                     | 11,419 |                                  |   | 39,766 |   | $ | 0.29 |   | $ | 9,130 |   |   | 41,302 |   | $ | 0.22 |   |

**NOTE      4.**
**Debt**

**NOTE      5.**
**Commitments      and Contingencies**

**NOTE      6. Income Taxes **

**HUB      GROUP, INC.**

**MANAGEMENT’S      DISCUSSION AND ANALYSIS OF FINANCIAL**

**CONDITION      AND RESULTS OF OPERATIONS**

**OUTLOOK,      RISKS AND UNCERTAINTIES**

| ·   | the                degree and rate of market growth in the domestic intermodal, truck                brokerage and logistics markets served by                us; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | deterioration                in our relationships with existing railroads or adverse changes to                the                railroads’ operating rules; |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | changes                in rail service conditions or adverse weather                conditions; |
|--------------------|-------------------------------------------------------------------------------------------------|

| ·   | further                consolidation of railroads; |
|--------------------|----------------------------------------------------|

| ·   | the                impact of competitive pressures in the marketplace, including entry                of new                competitors, direct marketing efforts by the railroads or marketing                efforts of asset-based carriers; |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | changes                in rail, drayage and trucking company                capacity; |
|--------------------|---------------------------------------------------------------------------------------|

| ·   | railroads                moving away from ownership of intermodal                assets; |
|--------------------|------------------------------------------------------------------------------------------|

| ·   | equipment                shortages or equipment surplus; |
|--------------------|----------------------------------------------------------|

| ·   | changes                in the cost of services from rail, drayage, truck or other                vendors; |
|--------------------|-----------------------------------------------------------------------------------------------------------|

| ·   | labor                unrest in the rail, drayage or trucking company                communities; |
|--------------------|--------------------------------------------------------------------------------------------------|

| ·   | general                economic and business conditions; |
|--------------------|----------------------------------------------------------|

| ·   | fuel                shortages or fluctuations in fuel                prices; |
|--------------------|------------------------------------------------------------------------------|

| ·   | increases                in interest rates; |
|--------------------|---------------------------------------------|

| ·   | changes                in homeland security or terrorist                activity; |
|--------------------|-----------------------------------------------------------------------------------|

| ·   | difficulties                in maintaining or enhancing our information technology                systems; |
|--------------------|------------------------------------------------------------------------------------------------------------|

| ·   | changes                to or new governmental regulation; |
|--------------------|-----------------------------------------------------------|

| ·   | loss                of several of our largest customers; |
|--------------------|----------------------------------------------------------|

| ·   | inability                to recruit and retain key personnel; |
|--------------------|---------------------------------------------------------------|

| ·   | changes                in insurance costs and claims expense;                and |
|--------------------|----------------------------------------------------------------------------------|

| ·   | inability                to close and successfully integrate any future business                combinations |
|--------------------|--------------------------------------------------------------------------------------------------------------|

**EXECUTIVE      SUMMARY**

**RESULTS      OF OPERATIONS **

|                                                        |   | **Three                Months Ended** |    |
|-------------------------------------------------------------|--------|---------------------------------------|---------|
|                                                        |   | **March                31,**          |    |
|                                                        |   | **2007**                              |    | **2006** |   | **%                Change** |   |
|                                                        |   |                                  |    |   |   |   |   |
| **Revenue**                                                 |   |                                  |    |   |   |   |   |   |   |   |
| Intermodal                                                  |   | $                                     | 287,833 |   | $ | 260,693 |   |   | 10.4 | % |
| Truck                brokerage                              |   |                                  | 74,580  |   |   | 69,537 |   |   | 7.3 |   |
| Logistics                                                   |   |                                  | 30,884  |   |   | 26,534 |   |   | 16.4 |   |
| **Total                revenue from continuing operations** |   | $                                     | 393,297 |   | $ | 356,764 |   |   | 10.2 | % |

|                                                                                              |   | **Three                Months Ended** |   |
|---------------------------------------------------------------------------------------------------|--------|---------------------------------------|--------|
|                                                                                              |   | **March                31,**          |   |
|                                                                                              |   | **2007**                              |   | **2006** |   |
|                                                                                              |   |                                  |   |   |   |
| Revenue                                                                                           |   |                                  | 100.0  | % |   | 100.0 | % |
|                                                                                              |   |                                  |   |   |   |   |   |
| Transportation                costs                                                               |   |                                  | 85.6   |   |   | 86.7 |   |
|                                                                                              |   |                                  |   |   |   |   |   |
| Gross                margin                                                                       |   |                                  | 14.4   |   |   | 13.3 |   |
|                                                                                              |   |                                  |   |   |   |   |   |
| Costs                and expenses:                                                                |   |                                  |   |   |   |   |   |
|                     Salaries and benefits                                     |   |                                  | 6.5    |   |   | 6.4 |   |
|                     General and administration                                |   |                                  | 3.0    |   |   | 2.6 |   |
|                     Depreciation and amortization                             |   |                                  | 0.3    |   |   | 0.5 |   |
| Total                costs and expenses                                                           |   |                                  | 9.8    |   |   | 9.5 |   |
|                                                                                              |   |                                  |   |   |   |   |   |
| Operating                income                                                                   |   |                                  | 4.6    |   |   | 3.8 |   |
|                                                                                              |   |                                  |   |   |   |   |   |
| Other                expense:                                                                     |   |                                  |   |   |   |   |   |
|                     Interest income                                           |   |                                  | 0.2    |   |   | 0.1 |   |
|                     Total other income                                        |   |                                  | 0.2    |   |   | 0.1 |   |
|                                                                                              |   |                                  |   |   |   |   |   |
| Income                from continuing operations before provision for income                taxes |   |                                  | 4.8    |   |   | 3.9 |   |
|                                                                                              |   |                                  |   |   |   |   |   |
| Provision                for income taxes                                                         |   |                                  | 1.9    |   |   | 1.5 |   |
|                                                                                              |   |                                  |   |   |   |   |   |
| Income                from continuing operations                                                  |   |                                  | 2.9    | % |   | 2.4 | % |

*Three      Months Ended March 31, 2007 Compared to the Three Months Ended March 31,      2006*

**Revenue**

**Gross      Margin**

**Salaries      and Benefits**

**General      and Administrative**

**Depreciation      and Amortization**

**Other      Income (Expense)**

**Provision      for Income Taxes**

**Income      from Continuing Operations**

**Income      from Discontinued Operations**

**Earnings      Per Common Share**

**CRITICAL      ACCOUNTING POLICIES**

**New      Pronouncement**

**LIQUIDITY      AND CAPITAL RESOURCES**

**Contractual      Obligations**

|                               |   |   |   |
|------------------------------------|--------|--------|--------|
| 2007                               |   | $      | 16,203 |   |
| 2008                               |   |   | 16,636 |   |
| 2009                               |   |   | 13,437 |   |
| 2010                               |   |   | 11,317 |   |
| 2011                               |   |   | 10,529 |   |
| 2012                and thereafter |   |   | 12,923 |   |
|                               |   | $      | 81,045 |   |

**Deferred      Compensation **

| 2007                               |   | $      | -     |   |
|------------------------------------|--------|--------|-------|--------|
| 2008                               |   |   | 2,012 |   |
| 2009                               |   |   | 956   |   |
| 2010                               |   |   | 1,488 |   |
| 2011                               |   |   | 585   |   |
| 2012                and thereafter |   |   | 3,961 |   |
|                               |   | $      | 9,002 |   |

**QUANTITATIVE        AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

**CONTROLS        AND PROCEDURES**

**PART      II.**
**Other      Information**

**Item      2. Unregistered Sales of Equity Securities and Use of      Proceeds**

|                                                    |   | **Total                Number of Shares Purchased** |    | **Average                Price Paid Per Share** |   |  **Total                Number of Shares Purchased as Part of Publicly Announced                Plan** |   | **Maximum                Value of Shares that May Yet Be Purchased Under the Plan (in                000’s)** |    |
|---------------------------------------------------------|--------|-----------------------------------------------------|---------|-------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------------------------------|---------|
| January                1 to January                31   |   |                                                | --      |                                            |   | --                                                                                                          |   |                                                                                                                | --      |   | $ | 75,000 |   |
| February                1 to February                28 |   |                                                | --      |                                            |   | --                                                                                                          |   |                                                                                                                | --      |   |   | 75,000 |   |
| March                1 to March                31       |   |                                                | 408,205 |                                            | $      | 30.62                                                                                                       |   |                                                                                                                | 408,205 |   |   | 62,500 |   |
| Total                                                   |   |                                                | 408,205 |                                            | $      | 30.62                                                                                                       |   |                                                                                                                | 408,205 |   | $ | 62,500 |   |

**Item      6. Exhibits**

|   |  /s/ Terri A.              Pizzuto                     |
|--------|-------------------------------------------------------------|
|   |  Terri A. Pizzuto                                      |
|   |  Executive Vice President-Chief              Financial |
|   |  Officer and Treasurer                                 |
|   |  (Principal Financial              Officer)            |

**EXHIBIT      INDEX**

| 10.1               | Equipment                Purchase Contract, dated as of March 8, 2007, by and between Hub                City                Terminals, Inc., Singamas                Management Services, Ltd. and                Singamas North America, Inc. (incorporated by reference to Exhibit                10.1 to                the Registrant’s report on Form 8-K filed March 12, 2007, File No.                000-27754) |
|------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.1              | Certification                of David P. Yeager, Vice Chairman and Chief Executive Officer, Pursuant                to                Rule 13a-14(a) under the Securities Exchange Act of                1934. |
|------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 31.2              | Certification                of Terri A. Pizzuto, Executive Vice President, Chief Financial Officer                and                Treasurer, Pursuant to Rule 13a-14(a) under the Securities Exchange                Act of                1934. |
|------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 32.1              | Certification                of David P. Yeager and Terri A. Pizzuto, Chief Executive Officer                and Chief                Financial Officer, respectively, Pursuant to 18 U.S.C. Section                1350. |
|------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|