C H Robinson's flexibility proves profitable
Oct 22, 2004 11:04 AM, from staff and wire reports
Eden Prairie MN-based C H Robinson Worldwide Inc reported financial results for the three months and nine months ended Sept 30, 2004.
For the third quarter, the third-party logistics company’s gross profits increased 26.8% to $172.2 million in 2004 from $135.8 million in 2003. Income from operations climbed 35.9% to $61.0 million in the third quarter of 2004 from $44.9 million in the third quarter of 2003. Net income advanced 37.3% to $37.3 million in the third quarter of 2004 from $27.2 million in the third quarter of 2003.
Gross profits for the nine months ended Sept 30, 2004, gained 18.5% to $479.8 million from $404.9 million in 2003. Income from operations was up 23.0% to $160.7 million from $130.6 million in 2003. Net income rose 24.0% to $98.7 million from $79.6 million in 2003.
“Our ability to be flexible and adapt quickly to changes in the freight environment was pivotal to our strong results this quarter,” said John P Wiehoff, chief executive officer of C H Robinson.
