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|For Immediate Release||Contact: Kevin Stout|
|Landstar System, Inc.|
|January 29, 2015||904-398-9400|
LANDSTAR SYSTEM REPORTS RECORD QUARTERLY REVENUE OF
$863 MILLION AND RECORD QUARTERLY DILUTED EARNINGS PER SHARE
FROM CONTINUING OPERATIONS OF $0.86
Jacksonville, FL Landstar System, Inc. (NASDAQ: LSTR) reported record quarterly revenue of $863 million in the 2014 fourth quarter, the highest quarterly revenue of any quarter in Landstar history. Landstar also reported diluted earnings per share of $0.86 in the 2014 fourth quarter on net income from continuing operations of $38.5 million. This is the highest quarterly diluted earnings per share from continuing operations in Landstar history. With respect to the Companys results from continuing operations for the 2013 fourth quarter, Landstar reported net income of $25.2 million, or $0.55 per diluted share, on revenue of $692 million. Additionally, the 2013 fourth quarter included $0.75 of diluted earnings per share from income from discontinued operations attributable to the sale of the Landstar Supply Chain Solutions companies. Gross profit (defined as revenue less the cost of purchased transportation and commissions to agents) was $124.7 million in the 2014 fourth quarter compared to $102.7 million of gross profit in the 2013 fourth quarter. Operating margin, representing operating income divided by gross profit, was 49.1 percent in the 2014 fourth quarter.
Truck transportation revenue hauled by independent business capacity owners (BCOs) and truck brokerage carriers in the 2014 fourth quarter was $811.2 million, or 94 percent of revenue, compared to $643.6 million, or 93 percent of revenue, in the 2013 fourth quarter. Truckload transportation revenue hauled via van equipment in the 2014 fourth quarter was $499.7 million compared to $391.4 million in the 2013 fourth quarter. Truckload revenue hauled via unsided/platform equipment in the 2014 fourth
The following information was filed by Landstar System Inc (LSTR) on Thursday, January 29, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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