CH Robinson Worldwide
, a global provider of multimodal transportation services and logistics solutions, said fourth-quarter earnings rose 50.9% from a year ago, helped by sharp gains in the company's transportation segment.
The company earned $58.1 million, or 33 cents a share, in the quarter, compared with $38.6 million, or 22 cents a share, a year ago. Per-share data is adjusted to reflect a 2-for-1 stock split on Oct. 14, 2005. Analysts surveyed by Thomson First Call were expecting earnings of $54.2 million, or 31 cents a share, in the most recent quarter.
Fourth-quarter revenue rose 36.3% from a year ago to $1.58 billion. Analysts were expecting revenue of $1.53 billion in the most recent quarter.
Gross profits for the fourth quarter 2005 increased 30.3% to $236.1 million. As a percentage of gross profits, operating expenses decreased to 60.8% from 65.7%. Operating profit rose 49.2% to $92.6 million whereas operating profit margin improved by 65 basis points to 5.85%.
Revenue for the transportation segment rose 30% to $1.3 billion. Revenue for the sourcing and information services segments rose 47.3% and 11.3%, to $258.1 million and $9.8 million, respectively.
The company plans to make $50 million of capital expenditure for 2006, with half of the amount going towards expanding company's Eden Prairie headquarters .
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