Expeditors’ 2nd-quarter earnings up 16%

Expeditors’ 2nd-quarter earnings up 16% Expeditors International of Washington Inc.’s second quarter net earnings increased 16 percent to $65.5 million, from $56.3 million in the prior year period.
   The Seattle, Wash.-based global logistics provider’s operating income in the latest quarter improved 15 percent to $101.7 million, compared to $88.8 million in the second quarter 2006.
   Revenue was up 11 percent to $1.25 billion from $1.13 billion. Air freight revenue up 3.5 percent to $564.5 million, ocean freight and ocean services revenue up 18.4 percent to $450.4 million, and revenue from customs brokerage and other services improved 18.3 percent to $243.7 million.
   For the six months ended June 30, Expeditors’ net earnings rose 15 percent to $124.8 million, from $108.7 million in the first half 2006. Operating income increased 16 percent to $196.3 million, with revenue up 10 percent to $2.37 billion.