EGL’s net income up 14% in 2005
Houston-based EGL Inc., a provider of transportation and supply chain management services that operates under the name EGL Eagle Global Logistics, reported net income of $58.2 million in 2005, an increase of 14 percent compared to $50.9 million in 2004.
EGL’s operating income in 2005 improved 17 percent to $95.4 million, from $81.3 million in the previous year. Revenue for 2005 increased 13 percent to $3.09 billion from $2.74 billion in 2004.
“Our solid 2005 results were bolstered by increasing operating margins and strong cash flow improvements which gave us the confidence to repurchase 25 percent of our shares,” said Jim Crane, EGL’s chief executive officer.
“Moving into 2006, we remain focused on four key areas: revenue growth across all product lines and geographies; improving yields through pricing and effective purchasing of capacity; operational efficiencies through streamlined processes, and increasing cash flow from operations,” Crane said.
EGL is listed on the Nasdaq stock exchange and closed Thursday up 4.49 percent, or by $1.64, at $38.19 per share.