Landstar System Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 29, 2012; Provides Outlook for the First Quarter of 2013
January 31, 2013 at 07:50 am
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Landstar System Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 29, 2012. For the year, the company's revenue was $2,793,420,000 against $2,649,082,000 a year ago. Operating income was $205,853,000 against $183,245,000 a year ago. Income before income taxes was $202,749,000 against $180,133,000 a year ago. Net income was $129,781,000 against $112,945,000 a year ago. Net income attributable to company was $129,781,000 or $2.77 per diluted share against $113,007,000 or $2.38 per diluted share a year ago. Net income was $129,781,000 against $112,945,000 a year ago. Fiscal year 2012 cash flow from operations was $126 million. Cash capital expenditures was $7 million in fiscal year 2012.
For the quarter, the company's revenue was $691,256,000 against $717,522,000 a year ago. Operating income was $49,535,000 against $50,950,000 a year ago. Income before income taxes was $48,743,000 against $50,178,000 a year ago. Net income attributable to company was $33,978,000 or $0.73 per diluted share against $32,632,000 or $0.70 per diluted share a year ago.
The company estimates is that the 2013 first quarter operating results will mirror that of 2012.
Landstar System, Inc. is a technology-enabled, asset-light provider of integrated transportation management solutions delivering specialized transportation services to a range of customers utilizing a network of agents, third-party capacity providers and employees. The Company operates through two segments. Transportation logistics segment provides a range of integrated transportation management solutions. Transportation services offered by the Company include truckload, less-than-truckload and other truck transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, United States-Canada and United States-Mexico cross-border, intra-Mexico, intra-Canada, project cargo and customs brokerage. Insurance segment consists of Signature Insurance Company and Risk Management Claim Services, Inc. The insurance segment provides risk and claims management services to certain of Landstars Operating Subsidiaries.
Landstar System Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 29, 2012; Provides Outlook for the First Quarter of 2013