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C.H. Robinson Reports Higher 4Q Profit
C.H. Robinson Worldwide reported higher fourth-quarter profit, led by acquisitions.
Net income rose to $256.4 million, or $1.58 a share, from $109 million, or 67 cents, a year ago.
Revenue rose 15.7% to $2.9 billion, the transportation and third-party logistics company said late Tuesday.
Full-year net income rose 37.6% to $593.8 million, or $3.67 per share and sales rose 5.2% to $1.7 billion. Truck revenue for 2012 rose 3.9% to $1.28 billion.
Fourth-quarter total transportation revenue rose 14.1% to $409 million, with truck revenue increasing 7.1% to $328 million.
Intermodal revenue for the quarterÌýfell 11.6% to $9 million, and air revenue rose 81% to $15.9 million, while ocean revenue rose 98% to $33.7 million. Other logistics revenue jumped 37% to $22 million.
In October the company completed the acquisition of Polish freight forwarder Apreo Logistics S.A and in November finished acquiring freight forwarder, Phoenix International Freight Services Ltd., Chicago.
C.H. Robinson is ranked No.Ìý5 on the Transport Topics Logistics 50 listing of North American logistics firms.
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