C H Robinson tallies profit growth in 2002

Feb. 5, 2003
C H Robinson Worldwide Inc reported financial results for the three months and 12 months ended Dec 31, 2002. For the fourth quarter of 2002, gross profit
C H Robinson Worldwide Inc reported financial results for the three months and 12 months ended Dec 31, 2002.

For the fourth quarter of 2002, gross profit increased 12.0% to $125.5 million from $112.1 million in 2001. Income from operations rose 17.4% to $39.4 million from $33.6 million in 2001. Net income climbed 18.2% to $24.3 million from $20.6 million in 2001. Basic net income per share was up 20.8% to $0.29 from $0.24 per share in 2001.

For 2002, gross profit advanced 6.0% to $483.8 million from $456.6 million in 2001. Income from operations rose 16.6% to $156.6 million from $134.3 million in 2001. Net income climbed 14.7% to $96.3 million from $84.0 million in 2001.

Results from the fourth-quarter and year 2002 include a previously disclosed $4.25-million charge with respect to a lawsuit settlement.

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