Expeditors Sets Stock Split; Reports Higher 1Q Income

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ogistics firm Expeditors International of Washington said it will undertake a 2-for-1 stock split and reported a first-quarter profit of $52.4 million or 47 cents a share, up from $30.9 million or 28 cents in the previous fourth quarter.

et revenue rose 28% to $296.2 million, total revenue rose to $1.02 billion from $825.2 million and operating income rose to $85.4 million from $50.5 million, the company said late Wednesday.

The stock split, in the form of a dividend, will be issued to shareholders of record as of June 9, the company said.

Expeditors also declared a semi-annual dividend of 22 cents per-share, up from 15 cents per share declared last year. The dividend will be payable June 15, 2006 to shareholders of record as of June 1.

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