Landstar System Inc. reported net income for the 13-week period ended June 30, 2007, of $29.7 million, or $0.53 per diluted share, compared to net income of $29.5 million, or $0.50 per diluted share, for the 2006 second quarter.
Revenue for the second quarter of 2007 was $633 million compared to $643 million for the second quarter of 2006. Included in the 2006 second quarter was $21 million of revenue for transportation services provided under the contract between Landstar Express America and the Federal Aviation Administration. There was no revenue generated under the FAA contract in the 2007 second quarter. Revenue under the FAA contract in the 2006 second quarter generated $2.6 million of operating income, which, net of related income taxes, increased net income by $1.6 million or, $0.03 per diluted share. Operating margin in the 2007 second quarter was 7.8 percent, compared to 7.7 percent in the 2006 second quarter. The revenue generated under the FAA contract increased operating margin by 16 basis points in the 2006 second quarter.
Landstar's carrier group of companies generated $470 million of revenue in the 13-week period ended June 30, 2007, compared with revenue of $468 million in the same period ended July 1, 2006. In the 2007 and 2006 second quarters, the carrier group invoiced customers $43.7 million and $46.7 million, respectively, in fuel surcharges that were passed on 100 percent to business capacity owners and excluded from revenue.
Revenue for the second quarter of 2007 was $633 million compared to $643 million for the second quarter of 2006. Included in the 2006 second quarter was $21 million of revenue for transportation services provided under the contract between Landstar Express America and the Federal Aviation Administration. There was no revenue generated under the FAA contract in the 2007 second quarter. Revenue under the FAA contract in the 2006 second quarter generated $2.6 million of operating income, which, net of related income taxes, increased net income by $1.6 million or, $0.03 per diluted share. Operating margin in the 2007 second quarter was 7.8 percent, compared to 7.7 percent in the 2006 second quarter. The revenue generated under the FAA contract increased operating margin by 16 basis points in the 2006 second quarter.
Landstar's carrier group of companies generated $470 million of revenue in the 13-week period ended June 30, 2007, compared with revenue of $468 million in the same period ended July 1, 2006. In the 2007 and 2006 second quarters, the carrier group invoiced customers $43.7 million and $46.7 million, respectively, in fuel surcharges that were passed on 100 percent to business capacity owners and excluded from revenue.
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