Landstar System Inc., Jacksonville, Fla., reported 2003 record fourth quarter net income of $15.1 million, compared to net income of $14.5 million in the 2002 fourth quarter.

Revenue was a record $434.0 million for the 13-week period, compared with $394.0 million for the same period ended Dec. 28, 2002. Landstar's carrier group of companies generated $326.1 million of revenue in the 2003 fourth quarter compared with $299.4 million in the 2002 fourth quarter. Landstar's multimodal services group of companies generated revenue of $100.7 million in the 2003 fourth quarter compared with $87.7 million in the 2002 fourth quarter.
Net income for the 2003 fiscal year was a record $50.7 million. Revenue in the 2003 fiscal year was a record $1.597 billion, compared to revenue of $1.507 billion in the 2002 year. Landstar's carrier group of companies generated $1.227 billion of revenue in the 2003 full year compared with $1.178 billion in 2002.
"I am extremely pleased with Landstar's 2003 fourth quarter and full-year performance," said Landstar Chairman and CEO Jeff Crowe.
"From a revenue standpoint, we are off to a very good start in 2004 and based upon the current level of business activity, I anticipate the revenue increase in the 2004 first quarter over the 2003 first quarter to be in the range of 6 to 10% and in the range of 8 to 12% for the 2004 full year."