C.H. ROBINSON NET INCOME UP 22.6%

C.H. ROBINSON NET INCOME UP 22.6%

   C.H. Robinson Worldwide Inc. said net income for the third quarter jumped 22.6 percent to $22.6 million. Net revenues increased 5.6 percent to $118.2 million.

   Operating income was $34.8 million, a 15.3-percent increase over the same period of 2000.

   “We're pleased with our performance this quarter. In a very tough environment our profit centers have done a good job selling Robinson and aggressively managing their operating expenses,” said D.R. “Sid” Verdoom, chairman and chief executive officer of C.H. Robinson.

   For the third quarter, transportation net revenues increased 6.2 percent. The increase resulted primarily from an 8.2-percent improvement in the company's truck truckload and less-than-truckload business. Information services net revenue increased 3.7 percent in the third quarter.

   For the first nine months of 2001, net income jumped 20.5 percent to $63.4 million. Net revenues have increased 10.4 percent to $344.5 million. Operating income was $100.7 million, a 16.2-percent increase.