C.H. Robinson reports modest profit increase

C.H. Robinson reports modest profit increase C.H. Robinson Worldwide Inc. said Tuesday it had second quarter profit of $92.3 million, a 2 percent increase over the same 2008 period.
   The increase in earnings came despite a 17 percent decline in revenues to $1.93 billion.
   “Our transportation revenue decline of 22.8 percent in the second quarter of 2009 was driven by falling transportation rates and volume declines in many of our transportation modes. Due primarily to a reduction in fuel prices compared to the prior year, transportation rates declined. We also reduced prices to our customers. A significant decline in overall transportation market demand due to the economic recession negatively impacted our volumes,” the company said.