Landstar reports record 2Q net income, revenue

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Landstar System reported record net income for the 2006 second quarter of $29.5 million, compared to net income of $22.4 million for 2005. Revenue for the 2006 second quarter was a record $643 million and increased 19 percent from $539 million in 2005. Operating margin was 7.7 percent in the 2006 second quarter compared to 7 percent in 2005.

Net income for the 26-week period ended July 1 was $53.8 million, compared to $39.2 million for the 26-week period ended June 25, 2005. Revenue was $1.253 billion in the 2006 first half, compared to revenue of $1.041 billion in 2005. Operating margin for the 2006 26-week period was 7.3 percent, compared with 6.3 percent in 2005.

“I am pleased with Landstar’s 2006 second-quarter performance,” said Henry Gerkens, president and chief executive officer of Jacksonville, Fla.-based Landstar. “Consolidated revenue increased 19 percent over the 2005 second quarter, making it the 11th consecutive quarter of double-digit revenue growth.”