Expeditors’ Fourth-Quarter Profit Jumps

Logistics firm Expeditors International of Washington’s fourth-quarter profit jumped 40% to $96.5 million, or 45 cents a share, from $69.1 million, or 32 cents, a year earlier.

Revenue rose 27% to $1.58 billion, the logistics company said in a statement Tuesday.

Airfreight revenue rose to $778 million from $628.1 million, ocean freight and services revenue rose to $481.3 million from $348.3 million and customs brokerage services rose to $322.9 million from $270.5 million.

Profit for the 2010 year gained 43% to $344.2 million, or $1.59 a share, from $240.2 million, or $1.11, the previous year.

Revenue for the year grew 46% to $5.97 billion.

Seattle-based Expeditors International of Washington is ranked No. 19 on the Transport Topics Logistics 50 listing of North American logistics companies.