C.H. Robinson earnings down slightly
C.H. Robinson said it had fourth quarter net profit of $87.7 million, 1.3 percent less than in the same 2008 period.
The Minneapolis-based third party logistics company said revenue improved 2.7 percent to $2 billion in the quarter. Net revenue slipped 1.5 percent to $339 million.
By segment, the company said net revenues were as follows:
' Truck, down 2.3 percent to $250 million.
' Intermodal, down 26.7 percent to $8.6 million.
' Ocean, down 27 percent to $13.6 million.
' Air, up 1.2 percent to $9.3 million.
' Miscellaneous transportation revenue, which primarily involves transportation management fees and customs brokerage fees, was up 17.7 percent to $12.3 million.
' Sourcing revenue up 27 percent to $33.1 million.
' Information services revenue up 0.8 percent to $12.1 million.
“We’re proud of our results in 2009,' said John P. Wiehoff, chairman and chief executive officer. 'Our focus on gaining market share through sales and account management, our variable-cost business model, and our expanded menu of services enabled us to be flexible and continue to find opportunities in the marketplace.”
He said for its trucking business in January, “total net revenues are roughly flat. Although we’re pleased with our continued volume growth, our margin comparisons will continue to be challenging.”