Landstar’s 4Q Earnings Increase

Truckload carrier Landstar System said its fourth-quarter earnings rose, despite inconsistent demand.

Net income rose to $34 million, or 73 cents per share, from $32.6 million, or 70 cents, a year ago.

Revenue fell to $691 million from $717 million a year ago, the company said Thursday.

Truck transportation revenue on freight hauled by owner-operators and truck brokerage carriers fell to $639.3 million from $659.3 million a year ago.



For all of 2012, net income rose to $129.8 million, or $2.77 per share, from $112.9 million, or $2.38, in 2011. Revenue increased to $2.79 billion from $2.65 billion.

Chairman and CEO Henry Gerkens said because ofeconomic uncertainty he would not provide specific projections for first quarter and 2013 earnings, but added “I would anticipate that the 2013 first-quarter results should be similar to the 2012 first-quarter results.”

Landstar System is ranked No. 9 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.