C.H. Robinson Worldwide Inc. today reported nearly flat first-quarter gross profits. The transportation and logistics firm said it had gross profits of $113.6 million vs. $113.3 million the previous year.
The company said income from operations increased 15.2% to $33.8 million from $29.4 million the year before. Net income increased 14.9% to $20.8 million from $18.1 million last year.
The company's transportation numbers, however, decreased 0.2%. The decline in truck gross profits of 1.4% was due to a decline in truckload volumes, according to the company.
"As we expected, the environment continued to be challenging for revenue growth," C.H. Robinson president John Wiehoff said. "We continue to concentrate on sales and profitable growth, while aggressively managing our expenses. We believe that this focus, combined with our strong core competencies and long-term growth strategy, position us very well for the future." .