Landstar System Inc. on Thursday, April 26, reported 2012 first-quarter net income of $26.8 million compared to net income of $20.6 million for the 2011 first quarter. Operating margin was 40.8 percent compared to 35.4 percent, and revenue was a first-quarter record of $649.0 million compared to $572.0 million.
Truck transportation revenue hauled by the Jacksonville, Fla.-based company’s owner-operators and truck brokerage carriers was $600.2 million compared to $520.6 million. Included were $25.4 million and $19.3 million, respectively, of fuel surcharges invoiced to customers.
“Landstar’s 2012 first-quarter performance was the best first-quarter operating performance in Landstar history,” said Henry Gerkens, Landstar chairman, president and chief executive officer. “It was a great start to what we expect will be a very exciting year for Landstar.”
Gerkens said demand for the company’s truck transportation services was strong in the 2012 first quarter. “Overall, available truckload capacity continues to lag demand, leading to continued strength in pricing,” he said. “I anticipate that this trend will continue as we enter the second quarter, which has historically been a seasonally stronger quarter.”