Expeditors sees profit, sales increase

Expeditors International of Washington Inc. reported second quarter profit of $71.2 million up 9 percent from $65.5 million in the same quarter of 2007.

Revenue was $1.45 billion for the quarter up 16 percent from $1.26 billion in the same 2007 period. 

This was fundamentally a very strong and a very sound quarter, said Peter J. Rose, chairman and chief executive officer, who added the company did an excellent job of managing those costs over which we had control.

The company absorbed more than $5.3 million of non-routine legal and related expenses related to an ongoing Justice Department investigation of the forwarding industry.

We understand that there are struggles going on out there in pockets of the economy, but we're also fortunate enough, with our broad customer base, to see things that are going extremely well for some companies, Rose said.