Landstar System boosted its net income 29.6 percent year-over-year in the fourth quarter to $24.1 million, while its revenue rose 7.3 percent to $587.5 million.
For the full year, the truckload carrier group increased its profit 23.8 percent to $86.6 million, while 2010 revenue jumped 19.5 percent to $2.4 billion.
Landstar was the third-largest truckload operator in the U.S. in 2009, according to revenue data tracked by SJ Consulting Group for The Journal of Commerce.
The company's independent owner-operators, or business capacity owners, and truck brokerage carriers brought in $537.6 million in revenue in the fourth quarter.
Revenue from rail, air cargo and ocean shipments climbed 4.9 percent in the quarter to $36.7 million, the company said, with intermodal revenue falling 8.6 percent.
Intermodal revenue fell 7.4 percent throughout the year as Landstar put more freight on the highways to take advantage of higher truckload pricing.
The carrier's business capacity owners' revenue per load rose 9.6 percent year-over-year in the last quarter while their number of loads actually fell 1.5 percent.
For the full year, BCO revenue per load rose 5 percent to an average of $1,570, while the number of loads increased 7.8 percent compared with 2009.
Truck brokerage revenue rose 32.4 percent over the year, climbing to $919.6 million, compared with $1.3 billion generated by the BCO drivers and agents.
-- Contact William B. Cassidy at firstname.lastname@example.org.