Last10K.com

Landstar System Inc (LSTR) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 30, 2017

Landstar System Inc

CIK: 853816 Ticker: LSTR

Exhibit 99.1

 

LOGO

 

For Immediate Release    Contact: Kevin Stout
   Landstar System, Inc.
   www.landstar.com
January 31, 2018    904-398-9400

LANDSTAR SYSTEM REPORTS RECORD QUARTERLY REVENUE

OF $1.052 BILLION, RECORD QUARTERLY DILUTED EARNINGS PER SHARE

AND AN INCREASED QUARTERLY DIVIDEND

Jacksonville, FL – Landstar System, Inc. (NASDAQ: LSTR) reported net income of $64.8 million, or $1.54 per diluted share, in the 2017 fourth quarter on record revenue of $1.052 billion. Included in net income in the 2017 fourth quarter are one-time tax benefits of approximately $19.5 million, or $0.46 per diluted share, related to the Company’s reasonable estimate of the change in future tax rates on net deferred tax liabilities as a result of the enactment of the Tax Cuts and Jobs Act in December 2017. Excluding the impact of the revaluation of the deferred tax liabilities, the Company’s 2017 fourth quarter net income was $45.2 million and diluted earnings per share was $1.08, each of which would also have been quarterly records from continuing operations.

Revenue for the 2017 fourth quarter represented the first quarter in the Company’s history to surpass $1 billion. The Company also established new quarterly records for gross profit (defined as revenue less the cost of purchased transportation and commissions to agents) and operating income in the 2017 fourth quarter. Gross profit was $149.7 million and operating income was $70.0 million in the 2017 fourth quarter. Operating margin, representing operating income divided by gross profit, was 46.8 percent in the 2017 fourth quarter.


The following information was filed by Landstar System Inc (LSTR) on Wednesday, January 31, 2018 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 2018 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 Equity
Consolidated Statements Of Changes In Equity (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (parenthetical)
Consolidated Statements Of Income
Acquired Business And Noncontrolling Interests
Acquired Business And Noncontrolling Interests - Additional Information (detail)
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
Recent Accounting Pronouncements - Additional Information (detail)
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
Share-based Payment Arrangements (tables)
Share-based Payment Arrangements - Additional Information (detail)
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)
Ticker: LSTR
CIK: 853816
Form Type: 10-K Annual Report
Accession Number: 0001193125-18-055528
Submitted to the SEC: Fri Feb 23 2018 1:28:41 PM EST
Accepted by the SEC: Fri Feb 23 2018
Period: Saturday, December 30, 2017
Industry: Trucking No Local

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/lstr/0001193125-18-055528.htm