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April 5, 2013 8:00 AM, EDT
Ceva Group’s 2012 Earnings Slip

Ceva Group, an international logistics service company based in the Netherlands, said its profit, excluding one-time items and other costs, fell 22% in 2012, hurt by customers’ shift of freight to less-expensive ocean shipping.

The profit, excluding restructuring costs, taxes, interest, depreciation and amortization, was $322.8 million. Revenue rose 4.8% to $9.5 billion, Ceva said in releasing its preliminary unaudited results.