Truckload carrier
Landstar System said its first-quarter net income rose to $17.2 million, or 34 cents a share, from $13.9 million, or 27 cents, a year ago.
Total quarterly revenue increased to $548.1 million, from $469.2 million the previous year, the company said late Wednesday.
Revenue hauled by third-party truck providers for the quarter ended March 27 was $505.9 million, or 92% of total revenue, up from $426.3 million, or 91%, a year ago.
Revenue hauled by rail, air and ocean cargo carriers was $28.5 million, accounting for 5% of total revenue. That compared with $33.6 million, or 7% of total revenue for the same period a year earlier.
The quarter was the first time since the third quarter of 2008 in which revenue increased over the year-ago figure, Landstar said.
The increase in revenue was due primarily to an 18% rise in the number of loads hauled.
Landstar expects second-quarter revenue to be higher than the second quarter of 2009 by a factor near 20%. It expects profit to be 44 cents to 49 cents per share.
Landstar System is ranked No. 13 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
