Expeditors International of Washington Reports Higher 1Q Profit

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ogistics firm Expeditors International of Washington Inc. late Wednesday reported first-quarter net income of $37.7 million or 34 cents a share, up 19% from $31.8 million or 29 cents last year.

Net revenue for the quarter rose 14% to $230.6 million, the company said in a statement. Total revenue grew to $372.9 million, from $324.9 million a year earlier.

The company said it opened several new offices in the quarter and continued to strengthen its position in China.

Expeditors International of Washington is ranked No. 20 on the Transport Topics Logistics 50 listing of North American logistics companies.