JACKSONVILLE trucker Landstar System announced that revenue in the fourth quarter of 2011 grew 22 per cent to US$717.5 million year on year.

The company also reported a net income of $32.6 million, up 42 per cent year on year while operating profit was 45 per cent last year after scoring a 36 per cent gain last year on 2009′s results.

Trucking revenue hauled by independent business capacity owners (BCOs) and truck brokerage carriers in the 2011 fourth quarter was $659.3 million, or 92 per cent of revenue, compared to $537.6 million, or 91 per cent of revenue, in the 2010 fourth quarter.

Revenue generated by rail, air and ocean carriage stood at $44.2 million, or six per cent of total revenue, in the 2011 fourth quarter compared to $36.7 million, or six per cent of revenue, in the 2010 fourth quarter. Transport management fee revenue generated by the supply chain solutions companies was $5.1 million and $4.4 million in the 2011 and 2010 fourth quarters, respectively.

“I am extremely pleased with Landstar’s 2011 fourth quarter and full year performance,” said chairman, president and CEO Henry Gerkens.

“Revenue growth was driven by continued strength in revenue per load and a significant increase in volumes over the prior year fourth quarter. Gross profit and operating income in the 2011 fourth quarter increased 15 per cent and 42 per cent, respectively, over the 2010 fourth quarter, resulting in operating margin expansion from 36.4 per cent in the 2010 fourth quarter to 45.0 per cent in the 2011 fourth quarter.

“I expect that strength to continue into 2012. As to the 2012 first quarter, revenue in the first quarter of the year has historically been seasonally lower than any other quarter of the year and, as a result, operating margin in the first quarter of the year is also generally lower than any other quarter of the year. We expect we will experience that seasonal impact in the 2012 first quarter, as well,” Mr Gerkens said.

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