Landstar System Inc. Q3 income drops in line with estimates

(RTTNews) - Landstar System Inc. (LSTR) revealed earnings for third quarter that decreased from last year in line with the Street estimates.

The company's bottom line totaled $61.7 million, or $1.71 per share. This compares with $100.2 million, or $2.76 per share, in last year's third quarter.

Analysts on average had expected the company to earn $1.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 29.1% to $1.29 billion from $1.82 billion last year.

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

-Earnings (Q3): $61.7 Mln. vs. $100.2 Mln. last year. -EPS (Q3): $1.71 vs. $2.76 last year. -Analyst Estimates: $1.71 -Revenue (Q3): $1.29 Bln vs. $1.82 Bln last year.

-Guidance: Next quarter revenue guidance: $1.225 to $1.275 bln