Landstar System (LSTR) has reported 4.54 percent rise in profit for the quarter ended Dec. 31, 2016. The company has earned $39.57 million, or $0.94 a share in the quarter, compared with $37.86 million, or $0.88 a share for the same period last year.     

Revenue during the quarter grew 5.21 percent to $892.83 million from $848.60 million in the previous year period. Gross margin for the quarter contracted 31 basis points over the previous year period to 98.38 percent. Total expenses were 92.86 percent of quarterly revenues, up from 92.62 percent for the same period last year. That has resulted in a contraction of 24 basis points in operating margin to 7.14 percent.

Operating income for the quarter was $63.76 million, compared with $62.65 million in the previous year period.

Commenting on Landstar’s 2016 fourth quarter results, Landstar’s president and chief executive officer Jim Gattoni said, “I am very pleased with Landstar’s performance in the 2016 fourth quarter given the challenges of a low growth macro environment and more readily available capacity. Diluted earnings per share was $0.94 in the 2016 fourth quarter, the highest quarterly diluted earnings per share in Landstar history, other than the fourth quarter of 2013 when we had a significant, one-time gain on the sale of our former supply chain companies. 2016 fourth quarter revenue was $893 million, the highest quarterly revenue in Landstar history. Moreover, gross profit of $132.8 million in the 2016 fourth quarter was the highest quarterly Landstar gross profit in any quarter over the last ten years."

For fiscal year 2017, the company expects diluted earnings per share to be in the range of $0.10 to $0.15.