Minneapolis-based C.H. Robinson Worldwide Inc. said its fourth quarter gross profits increased 11.5% to $139.9 million in 2003 from $125.5 million in 2002.

Income from operations increased 19.7% to $47.2 million in 2003 from $39.4 million in 2002. Net income increased 21.0% to $29.4 million in 2003 from $24.3 million in 2002. Diluted net income per share increased 21.4% to $0.34 per share in 2003 from $0.28 per share in 2002.
For the 12 months ended Dec. 31, gross profit increased 12.6% to $544.8 million in 2003 from $483.8 million in 2002. Income from operations increased 17.2% to $183.6 million in 2003 from $156.6 million in 2002. Net income increased 18.5% to $114.1 million in 2003 from $96.3 million in 2002.
"We're very pleased with our strong fourth quarter and that we achieved our earnings growth goals for the year," said John P. Wiehoff, chief executive officer of C.H. Robinson. "Our growth in the quarter was across all modes and types of customers. Freight demand was up, growing our volumes and causing truckload capacity to tighten. Our people worked hard to fulfill our customers' increased service needs and take advantage of the new opportunities in the marketplace."