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Expeditors Reports Third Quarter 2012 EPS Of $.42 Per Share1

1 Diluted earnings attributable to shareholders per share.

2 Operating income divided by net revenues.

NOTE: See Disclaimer on Forward-Looking Statements on the following page of this release.

Expeditors International of Washington, Inc.
Third Quarter 2012 Earnings Release, November 6, 2012
 
Financial Highlights for the Three and Nine months ended September 30, 2012 and 2011 (Unaudited)

(in 000's of US dollars except share data)

 
      Three months ended         Nine months ended    
September 30, September 30,
2012     2011 % 2012     2011 %
Revenues $ 1,531,664 $ 1,606,368 (5 )% $ 4,447,986 $ 4,648,584 (4 )%
Net revenues $ 465,138 $ 493,846 (6 )% $ 1,365,360 $ 1,420,322 (4 )%
Operating income $ 145,099 $ 163,758 (11 )% $ 402,773 $ 463,263 (13 )%
Net earnings attributable to shareholders $ 88,490 $ 106,604 (17 )% $ 249,152 $ 292,836 (15 )%
Diluted earnings attributable to shareholders $ .42 $ .50 (16 )% $ 1.17 $ 1.36 (14 )%
Basic earnings attributable to shareholders $ .42 $ .50 (16 )% $ 1.18 $ 1.38 (14 )%
Diluted weighted average shares outstanding 211,397,602 214,717,451 212,916,309 215,376,675
Basic weighted average shares outstanding 210,135,763 212,256,119 211,314,850 212,160,994
 
      Employee headcount as of September 30,
2012     2011
North America 4,786 4,631
Asia Pacific 3,936 4,094
Europe and Africa 2,336 2,227
Middle East 1,249 1,233
South America 683 631
Information Systems 603 552
Corporate 241 215
Total 13,834 13,583
 
      Year-over-year percentage decrease in:
Airfreight kilos     Ocean freight FEU
2012
July (19)% (3)%
August (7)% (6)%
September (2)% (2)%
Quarter (9)% (4)%
 

During the third quarter of 2012, the Company opened four full service offices: (1) Copenhagen, Denmark; (2) Santo Domingo, Dominican Republic; (3) Luxembourg, Luxembourg; and (4) Hannover, Germany (formerly a satellite office). The Company opened one satellite office in Le Havre, France and closed one satellite office in Kristiansand, Norway.

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