Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
5/4/2012 8:10:00 AM Write a Letter to the Editor Write a letter to the Editor

Expeditors’ First-Quarter Profit Declines

Logistics firm Expeditors International of Washington said its first-quarter profit declined from a year ago as air freight volumes fell.

Net income decreased to $76.7 million, or 36 cents a share, from $91.2 million, or 42 cents, a year ago.

Revenue slipped 3% from a year ago to $1.41 billion, the company said in a statement late Wednesday.

Year-over-year air freight volume declined 9%, while ocean freight volume gained 1%.

“Our largest customers are being very cautious about the amount of airfreight they are using this year,” CEO Peter Rose said in a statement.

The quarter included a $5.5 million fine levied by the European Commission in March in connection with air freight price-fixing charges, which Expeditors denied.

“As we said then, we did not enter into any agreement that affected customer pricing in any way,” Rose said.

Seattle-based Expeditors International of Washington is ranked No. 12 on the Transport Topics Logistics 50 listing of North American logistics companies.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2012, Transport Topics, American Trucking Associations Inc.
Reproduction, redistribution, display or rebroadcast by any means without written permission is prohibited.



Follow Us


This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.



© American Trucking Associations, Inc., All Rights Reserved Privacy Statement