Landstar System reports record revenue, profit

The Jacksonville, Fla.-based trucking logistics company Landstar System Inc. reported record second quarter net profit of $29.8 million compared to $29.7 million in the same 2007 period.Revenue for the quarter ending June 28 was $698 million, about 10 percent higher than the same 2007 period.

Landstar President and Chief Executive Officer Henry Gerkens said revenue from independent contractors who provide truck capacity to the company under exclusive lease arrangements, what Landstar terms business capacity owners,?increased more than 3 percent, revenue hauled by truck brokerage carriers increased 21 percent, revenue hauled by rail carriers increased 23 percent and revenue hauled by ocean cargo carriers increased 76 percent.

Gerkens said he anticipated he freight environment in the third quarter of 2008 to be similar to that of the 2008 second quarter.

Source: American Shipper