Expeditors Earnings Jump

Ratings increase 32% on revenue growth and better margins.
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Expeditors International (EXPD) - Get Report, a provider of logistics services, said Tuesday that its third-quarter earnings increased 32% from the year-ago period on strong revenue growth and improved operating margins.

The Seattle-based company's earnings rose to $63.8 million, or 29 cents a share compared with a net profit of $48.4 million, or 22 cents a share, a year ago. Analysts surveyed by Thomson First Call were expecting earnings of 29 cents a share.

Third-quarter total revenue increased 18% from a year ago to $1.23 billion as against analysts' expectation of $1.24 billion.

"We continued to benefit from market share expansion and productivity gains during the third quarter," the company said.

The company's shares were trading down $1.12, or 2.36%, at $46.25 Tuesday.

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