Expeditors Q4 æbetter than anticipatedÆ
SEATTLE
Expeditors International of Washington reported fourth quarter net profit attributable to shareholders of $69.1 million, 11 percent below the same 2008 period. Revenue was down 5 percent to $1.25 billion.
'In a year that began amidst fears of a global financial Armageddon, these fourth quarter results were somewhat better than anticipated and we're very encouraged by them. Against all stated odds, we actually ended up having a fourth quarter peak season in 2009,' said Peter J. Rose, the firm's chairman and chief executive officer.
'It was reassuring to once again experience air freight tonnages greater than those handled during the same period the year before ' up 16 percent for the fourth quarter and 36 percent for the month of December,' he said. Ocean freight container counts were 5 percent lower than 2008 levels, 'but that was the smallest quarterly 'lower' that we've seen all year and December was actually up 4 percent on a year-over-year basis.'
Expeditors Q4 ?better than anticipated?
