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Alexander & Baldwin, Inc. Reports 2011 Results

Logistics Services posted an operating loss of $0.6 million, compared to an operating profit of $2.0 million in the fourth quarter of 2010. The change in operating profit was due principally to lower highway and international intermodal volume cited above, and lower demand at its West Coast warehousing facilities.

Logistics Services – 2011 compared with 2010

(dollars in millions)   2011   2010   Change
Intermodal revenue   $ 234.5   $ 204.1   15 %
Highway revenue   151.9   151.5 --
Total Revenue   $ 386.4     $ 355.6     9 %
Operating profit $ 5.0 $ 7.2 -31 %
Operating profit margin     1.3 %     2.0 %      

Logistics Services revenue increased $30.8 million, or nine percent, in 2011 compared with 2010. This increase was principally due to higher intermodal volume, which grew seven percent, driven primarily by increased inland activity to support Matson’s China business.

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