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Ryder Shows A Profit Gain, But Not in All Segments

For its fourth quarter, earnings for the company grew from $58.8 million to $65.8 million. Revenues for the period were $1.59 billion, up 3% from 2005’s $1.54 billion. For the year, earnings were $249 million which represent a 10% jump over last year’s $226.9 million. Revenues were also up 10% at $6.31 billion for 2006, compared year over year to $5.74 billion.

The biggest gains were by Ryder’s Supply Chain Services segment that experienced growth in all of its industry groups as well as uncovering new business. The segment saw its revenues jump 13% year over year from $482.7 million to $ 543.1 million.

Down 2% was the Dedicated Contract Carriage segment that had declines in fuel revenue income with less volumes and lower fuel prices. Revenues were $140.2 million, compared to $142.5 million in 2005.

While contract revenue grew 5%for the quarter for Ryder’s Fleet Management Solutions segment, it also experienced lower fuel service income and declining commercial rental revenues. As a result, overall income was down 1%, from $1.02 billion to $1.01 billion.

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