Landstar System Inc. Announces Retreat In Q1 Income, but beats estimates

(RTTNews) - Landstar System Inc. (LSTR) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $47.1 million, or $1.32 per share. This compares with $78.2 million, or $2.17 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.8% to $1.17 billion from $1.44 billion last year.

Landstar System Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $47.1 Mln. vs. $78.2 Mln. last year. -EPS (Q1): $1.32 vs. $2.17 last year. -Revenue (Q1): $1.17 Bln vs. $1.44 Bln last year.