Expeditors 2nd quarter net income up 5%

Expeditors 2nd quarter net income up 5%    Expeditors International of Washington Inc. on Tuesday reported second quarter net income of $95 million, a 5 percent increase over the same quarter in 2010.
   The Seattle-based freight forwarder said net revenue increased 13 percent to $472.5 million. Total revenue increased 4 percent to $1.58 billion and operating income rose 10 percent to $152 million.

Rose

   'We knew that the 2011 second quarter would be challenging, at least from a 'last year's triumph is this year's hurdle' perspective,' said Peter J. Rose, chairman and chief executive officer of Expeditors, in a statement. 'Despite this 'hurdle,' our 2011 second quarter operating income growth shows that we executed well, particularly given all the factors currently in play.'
   For more details about Expeditors, read 'Forwarder's lifeblood,' July American Shipper, pages 20-22.