C.H. Robinson reported its net income in the first quarter of 2013 was $103.3 million, falling 3.0 percent from $106.5 million in the first quarter of 2012.
However, total quarterly revenue was $2.99 billion, increasing 17.3 percent from $2.55 billion in the same quarter last year, driven by revenue gains in truckload, less-than-truckload, ocean, air, customs and other logistics services segments — by 1.9 percent, 12.9 percent, 169.6 percent, 89.0 percent, 153.1 percent and 22.3 percent respectively. Intermodal revenue, however, declined 6.3 percent.
“Our results for the first quarter of 2013 reflect the slower growth and continued margin contraction that we have seen in the markets we serve,” said John P. Wiehoff, chairman and CEO of the logistics company, in a written statement. “They also reflect our continued investments in our future and adjusting to the changes we see.”