C.H. Robinson reports 2Q net income up 35%

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C.H. Robinson Worldwide on Tuesday, July 25, reported increases in financial results for the three months and six months ended June 30.

For the second quarter, gross profits increased 25.6 percent to $270.6 million from $215.4 million in 2005. Income from operations increased 29.4 percent to $103.9 million in the second quarter of 2006 from $80.3 million in the second quarter of 2005. Net income increased 35 percent to $66.6 million in the second quarter of 2006 from $49.3 million in the second quarter of 2005.

For the six months ended June 30, gross profits increased 26.7 percent to $525.7 million from $414.8 million in 2005. Income from operations increased 32.6 percent to $196.4 million from $148.1 million in 2005. Net income increased 36.9 percent to $124.7 million from $91.1 million in 2005.

The Eden Prairie, Minn.-based company said truck transportation gross profits increased 24.4 percent in the second quarter of 2006; about half of the growth was driven by increased volumes, with the remainder of the growth due to a small increase in gross profit margins and increased transportation rates.