Expeditors International Logistics, freight forwarding Dec. 31 % 4th QTR 2007 2006 CHG Profit $70,057 $62,610 +11. 9 Per share 0. 32 0. 28 +14. 3 Sales 1,446,582...
|Logistics, freight forwarding|
|COMMENT: Seattle-based Expeditors put up strong fourth-quarter and full-year numbers, but not quite strong enough for Wall Street. Analysts had forecast quarterly earnings of 34 cents a share. Expeditors came up 2 cents shy, and its stock tumbled $3.85, or 8.6 percent, to $40.95 today as a result. The shortfall was due in part to $4 million Expeditors spent complying with a Justice Department investigation of the industry. Other higher operating expenses also squeezed margins, and airfreight revenue grew less than analysts had anticipated.|