Ryder System Inc. announced earnings from continuing operations were $59.5 million for the fourth quarter of 2005, up 11 percent from $53.4 million of comparable earnings in the year-earlier period.

All business segments reported improved results.
Net earnings for the fourth quarter of 2005 were $58.8 million, or $0.92 per share, compared with $62.6 million, or $0.96 per share, in the year earlier period. Revenue for the fourth quarter of 2005 was $1.54 billion, up 13 percent from $1.36 billion in the comparable period last year with all business segments reporting revenue growth. Fleet Management Solutions (FMS) business segment revenue grew 7 percent, driven by higher fuel services revenue. Supply Chain Solutions business segment revenue grew 31 percent, driven by increased volume of managed subcontracted transportation as well as new and expanded business in all industry groups. Dedicated Contract Carriage business segment revenue increased 11 percent, primarily due to new and expanded business, and pricing increases associated with higher fuel costs.
"Our continued focus in the fourth quarter enabled us to deliver our second consecutive quarter of higher earnings and organic operating revenue growth in every segment," said Ryder Chairman and Chief Executive Officer Greg Swienton. "Prior to the third quarter, we had not experienced a quarter of both earnings and revenue growth for all business segments simultaneously in several years. This consistent performance provides momentum for achieving our business objectives for 2006."