Landstar: Freight environment improving
Landstar System Inc. said it had first quarter net profit of $17.2 million, 24 percent more than the first quarter of 2009.
Revenue in the period ending March 27 was $548.1 million, 17 percent higher than the 2009 first quarter.
Increased revenue was primarily the result of an 18 percent increase in the number of loads hauled, which was partly offset by a lower revenue per load amount of about 2 percent, compared to the 2009 first quarter, said Henry Gerkens, chairman, president and chief executive officer of the Jacksonville-based trucking firm.
“The freight environment continues to improve. Recent trends in March, and thus far in April, indicate that both the revenue per load and the number of loads hauled remain strong compared to the corresponding prior year periods,” Gerkens said. ” I expect these trends to continue throughout the 2010 second quarter.”