FRITZ COS. REPORTS SECOND-QUARTER PROFIT

   Fritz Cos. Inc. said its net income for the quarter ending Nov. 30. was $9.1 million, up 6.7 percent from the $8.6 million reported in the year earlier quarter.
   Net revenues (revenue less direct transportation costs) improved 4.6 percent to $160.7 million, while revenues jumped 11.7 percent to $426.5 million. Operating expenses rose 4.8 percent to $145.3 million, due to a 6.9-percent increase in labor expenses and a general and administrative expense increase of 1.4 percent.
   Net revenue growth was strongest in North America, at 9.7 percent, followed by Latin America and Asia with 6.7 percent and 6.6 percent, respectively. The company’s European net revenues fell 1.4 percent.
   For the six months, net income was $15.1 million, down slightly from last year. Revenues rose 13.0 percent to $818.2 million. Net revenues rose 4.2 percent to $311.4 million and operating expenses rose 4.1 percent to $285.3 million.