Landstar quarterly revenue flirts with record

Jacksonville FL-based Landstar System Inc reported net income of $13.6 million in 2003’s second quarter. Net income in the 2002 second quarter was $12.2 million. Revenue totaled $390.1 million for the 13-week period ended June 28, 2003, compared with $391.2 million for the same period a year ago.

Landstar’s carrier group of companies generated $303.2 million of revenue in the 2003 second quarter versus $310.0 million in 2002’s second quarter.

Net income for the 26-week period ended June 28, 2003, was $23.7 million, compared with net income of $20.8 million for the same period in 2002. Revenue was $755.8 million in 2003’s first half, versus revenue of $726.9 million in the 2002 first half. Landstar’s carrier group of companies generated $593.3 million of revenue in the 26-week period ended June 28, 2003, compared with $580.0 million in the period a year ago.

“Revenue in the 2003 second quarter was the second-highest second-quarter revenue amount in Landstar history,” said Jeff Crowe, chairman and chief executive officer of Landstar.