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C.H. Robinson Worldwide, Inc., a third-party logistics company, provides multimodal freight transportation services and logistics solutions to companies in various industries worldwide. It offers freight transportation services through its contractual relationships with various transportation companies, including motor carriers, railroads, air freight carriers, and ocean carriers. The company has contractual relationships with approximately 49,000 transportation companies. Its transportation and logistics services include truckload, less-than-truckload, intermodal, ocean, and air freight transportation, as well as transportation management, customs brokerage, and warehousing services. In addition, it engages in buying, selling, and marketing fresh produce to grocery retailers, restaurants, produce wholesalers, and foodservice distributors under the Fresh 1 and OurWorld Organics names, as well as under Tropicana, Welch’s, Mott’s, and Glory Foods names. Further, the company provides spend management and payment processing services through a platform that facilitates funds transfer, vendor payments, fuel purchasing, and online expense management primarily for motor carriers and truck stop chains. It operates through a network of 232 branch offices in North America, Europe, Asia, South America, Australia, and the Middle East. C.H. Robinson Worldwide, Inc. was founded in 1905 and is headquartered in Eden Prairie, Minnesota.
CH Robinson Worldwide Inc. announced unaudited consolidated financial results for the fourth quarter and year ended December 31, 2011. For the quarter, the company reported total revenues of $2,568.284 million against $2,325.349 million a year ago. Income from operations was $171.955 million against $164.065 million a year ago. Income before provision for income taxes was $173.328 million against $164.321 million a year ago. Net income was $109.214 million or $0.67 per diluted share against $103.161 million or $0.62 per diluted share a year ago. Cash flow from operations was approximately $136 million. Capex for the quarter was approximately $24 million. For the year, the company reported total revenues of $10,336.346 million against $9,274.305 million a year ago. Income from operations was $692.730 million against $622.860 million a year ago. Income before provision for income taxes was $694.704 million against $624.102 million a year ago. Net income was $431.612 million or $2.62 per diluted share against $387.026 million or $2.33 per diluted share a year ago. Net cash provided by operating activities was $429.712 million against $344.779 million a year ago. Purchases of property and equipment were $35.932 million against $17.718 million a year ago. Purchases and development of software was $16.874 million against $10.959 million a year ago. Cash flow from operations was approximately $430 million. The company provided capex guidance for the year 2012. For the period, the company expects capex are to be in the $40 million to $45 million range.
CH Robinson Worldwide Inc. announced that its Board of Directors has appointed a new director, Scott P. Anderson, effective January 18, 2012. Anderson, 45, currently is president and chief executive officer of Patterson Companies, Incorporated and also serves as member of the Patterson Board of Directors. Anderson was elected President and Chief Executive Officer of Patterson Companies Inc. in April, 2010. Anderson has worked with Patterson Companies since 1993.