Mar. 23--Hub Group Inc., hurt by the recession-induced downturn in truck and rail freight traffic, warned investors Monday that first-quarter earnings will fall short of analyst forecasts.

The Downers Grove company, which provides freight-management services such as logistics and intermodal brokerage, said officials expect per-share earnings of 15 to 20 cents -- significantly below the 28 cents Wall Street experts have been anticipating.

Brokerge volume "declined due to the continued downturn in the economy," the company noted, adding that industry pricing in the truck-brokerage sector has weakened as volume dropped.

Hub emphasized that its logistics-services business continued to expand, with revenue likely to increase by as much as 22 percent in the quarter that ends in a little more than a week.

Hub Group also said it has cut 70 workers from its payrolls since Jan. 1 and noted that its first-quarter profit forecast includes the drag of $800,000 in pretax severance costs.

Hub's warning came after the stock market's close Monday.

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