UPDATE 1-C.H. Robinson Q4 profit in line with Street
* Q4 EPS 52 cents in line with estimates
* Gross rev $1.96 bln misses consensus of $2.15 bln
Jan 27 (Reuters) - Third-party logistics provider C.H. Robinson Worldwide Inc (CHRW.O: Cotización) reported fourth-quarter profit in line with expectations, helped by increased revenue in its sourcing business, which partly offset the revenue decline in its transportation business.
For the quarter ended Dec. 31, 2008 C.H. Robinson earned $88.9 million compared with $85.3 million, a year earlier.
Revenue at its transportation business fell by about $15.4 million to $1.61 billion. The company's sourcing business posted revenue of $336 million, up from $317.8 a year ago.
"On a per business day basis our North American truckload gross profits declined in December and have continued to decline so far in January 2009" Chief Executive John Wiehoff said.
"The environment remains unpredictable, and we do not know whether our experience so far in January is a good indication of what the full first quarter or the year will bring."
Shares of the company closed up 93 cents at $44.57 Tuesday on Nasdaq.
For the alerts, double click [ID:nWNAB4344]
For the press release, please double click [ID:nBw276386a] (Reporting by Eric Yep in Bangalore; Editing by Aradhana Aravindan)
© Thomson Reuters 2017 All rights reserved.