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January 31, 2013 10:00 AM, EST
Ryder’s Fourth-Quarter Income Improves

Ryder System’s fourth-quarter profit rose to $53.8 million, or $1.05 per share, from $48.1 million, or 93 cents, a year ago.

Revenue rose 3% to $1.58 billion, the company said Thursday.

Earnings included an after-tax charge of $5.1 million, or 10 cents per share, for vehicle-related losses from Superstorm Sandy, for which insurance recoveries remain uncertain, Ryder said.

Its supply chain solutions segment’s earnings from continuing operations rose 22% to $31 million, with revenue up 2% to $575.3 million.

Its fleet management solutions unit’s earnings from continuing operations rose 17% to $86 million, while revenue rose 4% to $1.12 billion.

Ryder’s full-year income rose to $210 million, or $4.09 per share, from $169.8 million, or $3.28, a year ago. Revenue rose 3% to $6.3 billion.

Ryder last month named Robert Sanchez its new CEO, effective Jan. 1, succeeding Gregory Swienton.

Ryder Supply Chain Solutions is ranked No. 10 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.