Expeditors 2nd quarter net income up 5%
Expeditors International of Washington Inc. on Tuesday reported second quarter net income of $95 million, a 5 percent increase over the same quarter in 2010.
The Seattle-based freight forwarder said net revenue increased 13 percent to $472.5 million. Total revenue increased 4 percent to $1.58 billion and operating income rose 10 percent to $152 million.
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'We knew that the 2011 second quarter would be challenging, at least from a 'last year's triumph is this year's hurdle' perspective,' said Peter J. Rose, chairman and chief executive officer of Expeditors, in a statement. 'Despite this 'hurdle,' our 2011 second quarter operating income growth shows that we executed well, particularly given all the factors currently in play.'
For more details about Expeditors, read '
Forwarder's lifeblood,' July
American Shipper, pages 20-22.
