C.H. Robinson Posts Profit in 3Q
Third party logistics company C.H. Robinson Worldwide managed to turn a profit in the third quarter, despite the continuing effects of the recession
Third party logistics company C.H. Robinson Worldwide managed to turn a profit in the third quarter, despite the continuing effects of the recession.
The company brought in $95.5 million in net income, versus $93.6 million in the third quarter of 2008.
But the company was not totally immune to the economy, with its revenues falling 15.6 percent from the year-ago quarter. Hit by falling transportation rates and volume declines, the company's transportation revenue dropped 20 percent.
In a statement, the company said its transportation rates and volumes were negatively affected by weak demand.
In the truck segment, which consists of truckload and less-than-truckload, revenues were up 2.1 percent to $268 million in the third quarter, compared to $262.5 million in 2008.
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