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Landstar: 4Q Earnings Snapshot

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JACKSONVILLE, Fla. (AP) _ Landstar System Inc. (LSTR) on Wednesday reported fourth-quarter profit of $65.1 million.

The Jacksonville, Florida-based company said it had net income of $1.70 per share. Earnings, adjusted for non-recurring costs, were $2.01 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.75 per share.

The freight shipper and warehouser posted revenue of $1.3 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $1.19 billion.

For the year, the company reported profit of $192.1 million, or $4.98 per share. Revenue was reported as $4.13 billion.

Landstar shares have risen 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $145.52, a rise of 30% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LSTR at https://www.zacks.com/ap/LSTR