Expeditors’ 1Q Profit Improves

Expeditors International of Washington’s first-quarter profit rose 5% from a year ago, and the company said it sees “cause for optimism” for the rest of the year.

Net income improved to $80.3 million, or 39 cents a share, from $76.7 million, or 36 cents, a year ago.

Revenue fell slightly to about $1.4 billion, the Seattle-based logistics company said late Wednesday. Operating income rose 3% to $128.5 million.

Chairman and CEO Peter Rose said it was the “second consecutive quarter that [the company] has seen year-over-year airfreight tonnage increases.”

Expeditors International of Washington is ranked No. 14 on the Transport Topics Logistics 50 listing of North American logistics companies.