Expeditors encouraged by 2Q results

SEATTLE’S Expeditor’s International has posted encouraging results for the second quarter of 2010.

“We’ve experienced very significant year-over-year volume increases in both our airfreight and ocean freight business,” said Peter Rose (right), chief executive officer. “Our customers seem to be doing well as compared with 2009. This feels particularly good to us because these results are above the second quarter earnings per share we reported in 2008.

“We’ll have more information when final quarterly results are released before the market opens on 3 August. At this stage, what we can say is that these results are volume driven on the revenue side and enhanced by productivity efficiencies on the cost side with some favourable foreign exchange gains. That aside, we’re very encouraged, albeit we think it still premature to extrapolate these preliminary results of the second quarter over the entire of 2010.”

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