C.H. Robinson’s profits up 53%

C.H. Robinson’s profits up 53%

   C.H. Robinson, the Minneapolis-based trucking and multimodal logistics provider, said Tuesday that volume growth in both truckload and less-than-truckload transactions and an increase in gross profit margin helped it record a 53 percent rise in net income during the second quarter to $49.3 million.

   Income from operations increased 53 percent to $80.3 million in the second quarter, from $52.5 million in the second quarter of 2004. Revenues increased 30 percent to $1.4 billion from $1 billion.

   Transportation gross profits increased 36.0 percent to $182.6 million in 2005 from $134.2 million. Gross profit for the truck transportation business improved 39.8 percent to $161.9 million. Intermodal gross profit dropped 0.8 percent to $7.31 million from $7.37 million, due to a decrease in volumes impacted by market conditions that drove business back to truck in certain lanes, C.H. Robinson said.

   For the year-to-date, C.H. Robinson’s net income was up 49 percent to $91.1 million from $61.4 million in 2004. Income from operations increased 48.6 percent to $148.1 million from $99.7 million in 2004. Revenues increased 29 percent to $2.6 billion, compared to $2 billion after the first six months last year.