EXPEDITORS POSTS 40% NET INCOME GROWTH
U.S. forwarder Expeditors International of Washington reported net income growth of 40 percent in the first quarter.
Profit jumped to $13.4 million on a 23-percent increase in sales to $349.0 million. Net revenue, or sales minus the direct cost of transportation, rose 22 percent to $115.5 million.
“We are very proud of these results,” said Peter J. Rose, chairman and chief executive officer. “These are record first-quarter results. We know that it takes much more than financial results to create a successful service business. All credit again goes to the hard work and proactive customer service supplied by our employees around the globe.”