EGL Issues Second-Quarter Earnings Guidance

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ogistics firm EGL Inc. said late Tuesday it expects second-quarter earnings per share of 22 to 24 cents, including a 2-cent restructuring charge.

The company also projected its revenue would be 17% to 20% above the second quarter of last year.

“EGL continues to see positive growth across the North America and international business units,” said James Crane, the company’s chairman and chief executive officer.

The company is reducing its work force by about 350 “at business units which are not meeting our expectations,” but “business units that continue to experience growth will add staff to appropriately support our customers,” Crane said in a statement.

EGL, which operates under the name EGL Eagle Global Logistics, is ranked No. 16 on the Transport Topics Logistics 50 listing of the largest U.S. and Canadian logistics companies.

It reported first-quarter income of $7.2 million or 14 cents a share, down from $7.3 million or 15 cents in the previous first quarter.

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