(Source: Datamonitor)
Landstar System, a US-based transportation and logistics services company, has reported a net income of $20.1 million or $0.39 per diluted share in the third quarter of 2009, compared to $32.8 million or $0.62 per diluted share in the third quarter of 2008.
The company's revenue for the third quarter of 2009 was $500.7 million, compared to $732.8 million in the same quarter of 2008.
For the nine months ended September 26, 2009, the company has reported a net income of $51.8 million or $1.00 per diluted share, compared to $86.3 million or $1.62 per diluted share in the same period of 2008.
Total revenue for the nine months ended September 26, 2009 was $1.46 billion, compared to $2.04 billion in the same period of 2008.
Henry Gerkens, president and CEO of Landstar, said: "In the third quarter of 2009, Landstar's revenue continued to be negatively impacted by the recession in the domestic and global economies. As was the case in the 2009 second quarter, revenue declines were experienced across multiple sectors affecting a broad range of accounts."
A service of YellowBrix, Inc.
