C H Robinson Worldwide Inc, the Eden Prairie MN-based logistics firm, has reported financial results for the three months ended March 31, 2003.
For the first quarter of 2003, gross profit rose 17.2% to $133.1 million from $113.6 million in 2002. Income from operations increased 28.4% to $43.5 million from $33.8 million in 2002. Net income climbed 28.8% to $26.8 million from $20.8 million in 2002.
For the first quarter, the company's truck transportation business grew 17.0%, driven by volume growth in both truckload and less-than-truckload shipments.
Intermodal gross profit growth of 30.4% in the first quarter of 2003 was the result of higher volumes and margin expansion.