C.H. Robinson Worldwide, Inc. (“C.H. Robinson”) (NASDAQ: CHRW), today reported financial results for the quarter ended September 30, 2012.
Summarized financial results for the quarter ended September 30 are as follows (dollars in thousands, except per share data):
|Three months ended September 30,||Nine months ended September 30,|
|Other logistics services||17,196||14,752||16.6||%||53,472||43,665||22.5||%|
|Total net revenues||432,670||423,066||2.3||%||1,272,939||1,231,273||3.4||%|
|Income from operations||187,257||183,965||1.8||%||541,716||520,775||4.0||%|
Our truck net revenues, which consist of truckload and less-than-truckload (“LTL”) services, increased 2.1 percent in the third quarter of 2012. Our truckload volumes increased approximately eight percent in the third quarter of 2012 compared to the third quarter of 2011. Our truckload net revenue margin decreased in the third quarter of 2012 compared to the third quarter of 2011, due to increased cost per mile. Excluding the estimated impacts of the change in fuel, our average truckload rate per mile to our customers was unchanged in the third quarter of 2012 compared to the third quarter of 2011. Our truckload transportation costs increased approximately one percent, excluding the estimated impacts of the change in fuel. Our LTL net revenues increased approximately 11 percent. The increase was driven by an increase in total shipments of approximately 17 percent, partially offset by decreased net revenue margin.
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