Landstar sees record Q1 revenues

Landstar sees record Q1 revenues

Landstar reported revenues rose 15 percent to a record $421 million in the first quarter of fiscal year 2004, compared to $366 million in the year-ago quarter.

Net income was $8.1 million, down from $10.2 million, including a charge of $7.6 million to cover the costs of a road accident.

Landstar said its carrier group of companies generated revenue of $322 million compared with $290 million. The multimodal services group generated $92 million against $69 million.

"I would anticipate revenue growth for the remainder of the 2004 fiscal year to be within the range of 8 to 12 percent," Landstar Chairman and Chief Executive Jeff Crowe said in a statement.

Landstar is a provider of trucking and logistics services headquartered in Jacksonville, Fla.