C.H. Robinson 3Q Profit Rises 19 Percent

Net income rose to $83.7 million, or 48 cents per share, from $70.4 million, or 40 cents per share, a year earlier. Revenue rose 9 percent to $1.87 billion from $1.71 billion.

The company's profit was in line with Wall Street estimates. Analysts polled by Thomson Financial expected earnings of 48 cents per share on $1.91 billion, on average.

Profit growth of 12.1 percent in truck transportation -- its largest transportation division -- was driven by higher volume, partially offset by lower truckload rates. C.H. Robinson said it offset weakness in its truck-transportation segment with faster growth in its air and other transportation businesses, which have higher gross profit margins.

The company said operating expenses increased 8.5 percent to $181.4 million from $167.2 million due to an 8.1 percent rise in personnel expenses and an increase of 9.7 percent in selling, general and administrative expenses.

C.H. Robinson shares fell $1.24, or 2.3 percent, to close at $51.84.