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Expeditors’ Profit Dips in Second Quarter
Expeditors International of Washington’s second-quarter profit dipped 1%, but revenue increased.
Net income declined to $91.3 million, or 46 cents a share, from $92.3 million, or 45 cents, a year ago.
Revenue increased 3% to about $485 million, the Seattle-based logistics company said. Operating income declined 1% to $142.4 million.
“From a geographic perspective, our efforts during the last year to expand our European-based business showed up in European operating-income growth. These European results compensated for weaker Americas’ growth and an actual decline in Asia Pacific results,” CEO Jeffrey Musser said in a statement.
Expeditors International of Washington ranks No. 16 on the Transport Topics Top 50 list of the largest logistics companies in the United States, Canada and Mexico based on revenue.
