C.H. Robinson Worldwide Inc., Minneapolis, said its gross profits increased 16.2% to $158.1 million in 2004 from $136 million in 2003.
Income from operations increased 18.6% to $52.5 million in the second quarter of 2004 from $44.3 million in the second quarter of 2003. Net income increased 18.6% to $32.3 million in the second quarter of 2004 from $27.2 million in the second quarter of 2003.
For the six months ended June 30, gross profits increased 14.3% to $307.6 million from $269.1 million in 2003. Income from operations increased 16.2% to $99.7 million from $85.8 million in 2003. Net income increased 17.2% to $61.4 million from $52.4 million in 2003.
"Our strong results this quarter demonstrate the continued advantage of our integrated, multimodal service model," said John P. Wiehoff, chief executive officer of C.H. Robinson. "Increasing freight demand coupled with a tight capacity market made it challenging to find carriers, but our motivated people did an excellent job being resourceful, servicing their customers, and finding new opportunities in the marketplace."
Wiehoff continued, "We're a service company, and our future success will be driven by our ability to keep bringing on talented, entrepreneurial people. We're excited that, excluding acquisitions, we've added almost 300 employees so far in 2004, while sticking to our profitability and operating disciplines."
Income from operations increased 18.6% to $52.5 million in the second quarter of 2004 from $44.3 million in the second quarter of 2003. Net income increased 18.6% to $32.3 million in the second quarter of 2004 from $27.2 million in the second quarter of 2003.
For the six months ended June 30, gross profits increased 14.3% to $307.6 million from $269.1 million in 2003. Income from operations increased 16.2% to $99.7 million from $85.8 million in 2003. Net income increased 17.2% to $61.4 million from $52.4 million in 2003.
"Our strong results this quarter demonstrate the continued advantage of our integrated, multimodal service model," said John P. Wiehoff, chief executive officer of C.H. Robinson. "Increasing freight demand coupled with a tight capacity market made it challenging to find carriers, but our motivated people did an excellent job being resourceful, servicing their customers, and finding new opportunities in the marketplace."
Wiehoff continued, "We're a service company, and our future success will be driven by our ability to keep bringing on talented, entrepreneurial people. We're excited that, excluding acquisitions, we've added almost 300 employees so far in 2004, while sticking to our profitability and operating disciplines."
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