C.H. ROBINSON SEES DOUBLE-DIGIT EARNINGS BOOST

C.H. ROBINSON SEES DOUBLE-DIGIT EARNINGS BOOST

   C.H. Robinson Worldwide Inc. reported double-digit growth in net income for its fourth quarter and full 2001 results.

   Net income for the fourth quarter improved 10.5 percent to $20.6 million. Income from operations rose 10.7 percent to $33.6 million, while net revenues improved 4.3 percent to $112.4 million.

   For 2001, net income improved 17.9 percent to $84.0 million. Income from operations rose 14.8 percent to $134.3 million, while net revenues rose 8.9 percent to $456.6 million.

   Transportation net revenues rose 4.1 percent for the fourth quarter to $96.7 million, and 9.9 percent for the year to $390.4 million. Growth in truck net revenues, including less-than-truckload, was achieved by growth in transaction volume, despite a decline in the overall freight volumes of some of the company's major customers. The company's intermodal net revenue growth was driven by shippers' focus on cost savings and their increased trust in railroad service levels, C.H. Robinson said.