Last10K.com

Landstar System Inc (LSTR) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Landstar System Inc

CIK: 853816 Ticker: LSTR

Exhibit 99.1

 

LOGO

 

For Immediate Release   Contact: Kevin Stout
  Landstar System, Inc.
  www.landstar.com
February 1, 2017   904-398-9400

LANDSTAR SYSTEM REPORTS RECORD QUARTERLY REVENUE

OF $893 MILLION AND RECORD QUARTERLY DILUTED

EARNINGS PER SHARE FROM CONTINUING OPERATIONS OF $0.94

Jacksonville, FL – Landstar System, Inc. (NASDAQ: LSTR) reported net income of $39.6 million, or $0.94 per diluted share, in the 2016 fourteen-week fourth quarter on revenue of $893 million. Landstar reported net income of $37.9 million, or $0.88 per diluted share, on revenue of $849 million in the 2015 thirteen-week fourth quarter. Revenue for the 2016 fourth quarter was the highest quarterly revenue in Landstar history while diluted earnings per share for the 2016 fourth quarter was the highest quarterly diluted earnings per share from continuing operations in Landstar history. Gross profit (defined as revenue less the cost of purchased transportation and commissions to agents) was $132.8 million in the 2016 fourth quarter compared to $126.4 million in gross profit in the 2015 fourth quarter. Operating income was $63.8 million in the 2016 fourth quarter and operating margin, representing operating income divided by gross profit, was 48.0 percent.

The Company’s fiscal year ends each year on the last Saturday in December. As such, the Company’s 2016 fourth quarter included fourteen weeks of operations whereas the 2015 fourth quarter included thirteen weeks. We estimate the extra week in 2016 contributed revenue of approximately $36 million. In comparison, however, the 2015 fourth quarter included $38 million of revenue from a special project for a customer in the automotive sector. That project ended at year end 2015.


The following information was filed by Landstar System Inc (LSTR) on Wednesday, February 1, 2017 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.

View differences made from one year to another to evaluate Landstar System Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Landstar System Inc.

Continue

Assess how Landstar System Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Landstar System Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2017 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Shareholders Equity
Consolidated Statements Of Changes In Shareholders Equity (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (parenthetical)
Consolidated Statements Of Income
Amortized Cost And Fair Value Of Available For Sale Investments (detail)
Amounts Recognized In Financial Statements With Respect To Plans (detail)
Change In Accounting Estimate For Self-insured Claims
Change In Accounting Estimate For Self-insured Claims (tables)
Commitments And Contingencies
Commitments And Contingencies - Additional Information (detail)
Components Of And Changes In Accumulated Other Comprehensive Income, Net Of Related Income Taxes (detail)
Debt
Debt - Additional Information (detail)
Effect Of Increase In Cost Of Insurance And Claims (detail)
Equity
Equity - Additional Information (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Information Regarding Reportable Business Segments (detail)
Investments
Investments (tables)
Investments - Additional Information (detail)
Leases
Leases (tables)
Leases - Additional Information (detail)
Minimum Lease Payments (detail)
Minimum Lease Payments (parenthetical) (detail)
Operating Property
Operating Property (detail)
Operating Property (tables)
Operating Property - Additional Information (detail)
Other Comprehensive Income
Other Comprehensive Income (tables)
Quarterly Financial Data
Quarterly Financial Data (detail)
Quarterly Financial Data (tables)
Recent Accounting Pronouncements
Reconciliation Of Average Number Of Common Shares And Common Share Equivalents Outstanding (detail)
Retirement Plan
Retirement Plan - Additional Information (detail)
Schedule For Gross Unrecognized Tax Benefits (detail)
Schedule Of Deferred Tax Assets And Liabilities (detail)
Schedule Of Income Taxes Calculated On Income From Continuing Operations Before Income Taxes And Provision For Income Taxes (detail)
Schedule Of Information On Non - Vested Restricted Stock Units (detail)
Schedule Of Information On Restricted Stock Units (detail)
Schedule Of Provision For Income Taxes (detail)
Schedule Of Unrealized Loss On Available For Sale Investments (detail)
Segment Information
Segment Information (tables)
Segment Information - Additional Information (detail)
Share Based Payment Arrangements - Additional Information (detail)
Share-based Payment Arrangements
Share-based Payment Arrangements (tables)
Significant Accounting Policies
Significant Accounting Policies (policies)
Significant Accounting Policies (tables)
Significant Accounting Policies - Additional Information (detail)
Summary Of Activity In Allowance For Doubtful Accounts (detail)
Summary Of Information Regarding Stock Options (detail)
Summary Stock Options Outstanding And Exercisable (detail)
Weighted Average Assumptions For Option Grants (detail)
Ticker: LSTR
CIK: 853816
Form Type: 10-K Annual Report
Accession Number: 0001193125-17-056249
Submitted to the SEC: Fri Feb 24 2017 3:53:00 PM EST
Accepted by the SEC: Fri Feb 24 2017
Period: Saturday, December 31, 2016
Industry: Trucking No Local

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/lstr/0001193125-17-056249.htm