C.H. Robinson says 2Q net income up 23.6%

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C.H. Robinson Worldwide on Tuesday, July 24, reported financial results for the quarter and six-month period ended June 30.

For the quarter:

  • Gross profits were $310.9 million, up 14.9 percent from $270.6 million during the year-ago period;
  • Operating income was $129.8 million, up 24.9 percent from $103.9 million during the year-ago period;
  • Net income was $82.3 million, up 23.6 percent from $66.6 million during the year-ago period; and
  • Total revenue climbed to $1.51 billion from $1.36 billion a year earlier.
  • For the six-month period:

  • Gross profits were $607.8 million, up 15.6 percent from $525.7 million during the year-ago period;
  • Operating income was $245.0 million, up 24.8 percent from $196.4 million during the year-ago period; and
  • Net income was $155.3 million, up 24.5 percent from $124.7 million during the year-ago period.
  • Total transportation gross profits increased 16.4 percent to $271.1 million in the second quarter of 2007 from $233.0 million in the second quarter of 2006. The Minneapolis-based company’s transportation gross profit margin increased to 17.9 percent in 2007 from 17.1 percent in 2006.

    C.H. Robinson said the increase in transportation gross profit margin in the second quarter was due to an increase in its truck transportation gross profit margins and to its mix of business. “We had faster growth in our miscellaneous transportation management services business, which has a higher gross profit margin than our transportation business overall,” the company said in a statement.

    Truck transportation gross profits increased 15.6 percent in the second quarter of 2007, driven by increased volumes and an increase in gross profit margin, which expanded due to more widely available capacity in the marketplace compared to the second quarter of 2006, according to the company.

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