11/6/2012 12:00:00 PM
Write a Letter to the Editor
Tweet
Print This
Logistics firm Expeditors International of Washington said Tuesday its third-quarter profit declined from a year ago on a “convergence of industry challenges.�
Net income decreased to $88.7 million, or 42 cents a share, from $106.9 million, or 50 cents, a year ago.
Revenue slipped 5% to $1.53 billion. Year-over-year air freight volume declined 19% and ocean freight volume fell 3%.
“Financially struggling air and ocean carriers, airfreight markets adapting to smaller, lighter, more powerful smart phones and mobile tablets versus heavier PCs, lackluster consumer and business demand and global economic uncertainty have all combined to create a very uniquely challenging business environment,� CEO Peter Rose said in a statement.
Seattle-based Expeditors International of Washington is ranked No. 14 on the Transport Topics Logistics 50 listing of North American logistics companies.
Follow Transport Topics on RSS Twitter Facebook
Tweet
Print This
© 2012, Transport Topics Publishing Group. All rights reserved.
RELATED ARTICLES
FMCSA Sets Team to Help Get Trucks to Hurricane Sandy Relief Effort (11/6/2012 9:45:00 AM)
XPO Logistics Reports 3Q Loss (11/6/2012 9:00:00 AM)
2012 TT Top 50 Logistics Companies: E-Commerce’s Steep Growth Drives Logistics Strategies (11/5/2012 3:15:00 AM)
LTL Carriers Report Mixed Results in 3Q; Con-way, ABF Slide, While Saia Gains (11/5/2012 2:15:00 AM)
Study Predicts Far More New Logistics Jobs Than Qualified Workers Over Next 4 Years (11/5/2012 1:45:00 AM)
IANA, NITL Set Agendas for Annual Meetings; Highlights Include 15 Educational Sessions (11/5/2012 1:30:00 AM)