UPDATE 1-Ryder posts lower quarterly profit

Thu Jul 23, 2009 8:12am EDT
 
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* Reports EPS of 43 cents vs analyst view of 38 cents

* Sees economy remaining weak throughout 2009

DETROIT, July 23 (Reuters) - Trucking and logistics company Ryder System Inc (R.N) reported a lower quarterly net profit on Thursday, citing continued weakness in the U.S. economy.

The Miami-based company reported second-quarter net income of $22.9 million, or 41 cents a share, compared with $62.9 million, or $1.09 a share, a year earlier.

Excluding one-time items, Ryder earned 43 cents per share.

Wall Street analysts had on average expected earnings per share of 38 cents, according to Reuters Estimates.

Revenue in the quarter fell to $1.24 billion from $1.66 billion. Analysts had expected $1.25 billion. (Reporting by Nick Carey, editing by Lisa Von Ahn)

 

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