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January 31, 2013 10:10 AM, EST
Landstar’s 4Q Earnings Increase

Truckload carrier Landstar System said its fourth-quarter earnings rose, despite inconsistent demand.

Net income rose to $34 million, or 73 cents per share, from $32.6 million, or 70 cents, a year ago.

Revenue fell to $691 million from $717 million a year ago, the company said Thursday.

Truck transportation revenue on freight hauled by owner-operators and truck brokerage carriers fell to $639.3 million from $659.3 million a year ago.

For all of 2012, net income rose to $129.8 million, or $2.77 per share, from $112.9 million, or $2.38, in 2011. Revenue increased to $2.79 billion from $2.65 billion.

Chairman and CEO Henry Gerkens said because of economic uncertainty he would not provide specific projections for first quarter and 2013 earnings, but added “I would anticipate that the 2013 first-quarter results should be similar to the 2012 first-quarter results.”

Landstar System is ranked No. 9 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.