FMS revenue drives Ryder's bottom line
Ryder System Inc, the Miami FL-based transportation and supply chain management provider, announced net earnings of $62.6 million for the three-month period ended Dec 31, 2004, up 59% compared with $39.4 million in the same period of 2003. Improved performance was due mainly to revenue growth in the Fleet Management Solutions (FMS) business segment.
Revenue for the fourth quarter of 2004 was $1.36 billion, up 11% from $1.22 billion in the comparable period a year earlier. The revenue increase for the quarter was led by the FMS business segment, which rose 17% versus the fourth quarter of 2003.
For the full-year 2004, revenue was $5.15 billion, up 7% from $4.80 billion in the comparable period of 2003. Ryder’s full-year 2004 net earnings were $215.6 million compared with $131.4 million in the year-earlier period.
