Fleet Management

Landstar Posts Record 2nd Quarter Profits

July 14, 2000

SHARING TOOLS        | Print Subscribe
Landstar System reported record net income of $11.3 million for second quarter 2000, excluding a one-time $3 million pre-tax charge for the relocation and restructuring of its Landstar Ligon division.

Revenue for the quarter ending June 24 was $358.6 million. Profit for second quarter 1999 was $10.8 million on revenue of $345.1 million.
Chairman, President and CEO Jeff Crowe called this a “historic quarter for Landstar.” In early June the Landstar Ligon offices were moved from Madisonville, Ky., to the Landstar System headquarters in Jacksonville, Fla. “Landstar now operates out of two new modern facilities -- one in Jacksonville, the other in Rockford, IL,” Crowe said.
Because of an operational restructuring and Ligon relocation, plus higher fuel prices, Landstar truck count was 8,563 units versus 8,692 a year ago. But Crowe said they expect to add another 100 trucks in the second half of this year.
Excluding the one-time restructuring charge, Landstar’s net income for the first half of 2000 was $19.6 million, up from $18.2 million for the second half of 1999. First half revenue was $685.6 million this year versus $656.5 million in 1999.

Comment On This Story

Comment: (Maximum 2000 characters)  
Leave this field empty:
* Please note that every comment is moderated.


We offer e-newsletters that deliver targeted news and information for the entire fleet industry.


ELDs and Telematics

sponsored by
sponsor logo

Scott Sutarik from Geotab will answer your questions and challenges

View All

Sleeper Cab Power

Steve Carlson from Xantrex will answer your questions and challenges

View All