RYDER SYSTEMS INC. SECOND QUARTER EARNINGS DROP
Ryder Systems Inc. said reported second quarter net income fell 32.7 percent to $19.9 million, due to the economic slowdown in the United States and foreign markets where the Miami-based logistics company does business.
Operating revenue was down 3.8 percent from last year to $281.1 million. Second quarter total revenue fell 2.9 percent to $1.29 billion from $1.33 billion in the second quarter of 2000. Total revenue for the year-to-date fell 2.5 percent to $2.58 billion.
The company said it expects revenue in the second half to be 4 to 5 percent lower than the second half of 2000.