Ryder System’s First-Quarter Income Rises

April 27, 2006 2:00 PM, EDT

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yder System said Wednesday its first-quarter net income rose to $47.6 million or 77 cents a share, from $41.5 million or 64 cents a year earlier.

Revenue rose 14% to $1.5 billion.

Ryder raised its earnings forecast for the year by 7 cents, to $3.82 to $3.97 per share, Chairman and Chief Executive Officer Greg Swienton said in a statement.

Ryder’s fleet management services’ revenue rose 6% to $981.2 million. Its supply chain services unit’s revenue rose 35% to $469.5 million. Dedicated contract carriage unit rose 8% to $138.7 million.

Ryder is ranked No. 5 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.

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