Forbes Names Landstar to its 'Platinum 400 List of America's Best Big Companies' for the Seventh Consecutive Year and 'One of the Best Managed Companies in America'
JACKSONVILLE, Fla., Jan 17, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Landstar System, Inc. (Nasdaq: LSTR), a safety-first non-asset based provider of transportation capacity and logistics services, is among Forbes magazine's Platinum 400 List of the Best Big Companies in America for the seventh consecutive year.
Based in part on the 45.4 percent 5-year total return on Landstar's common stock, Landstar ranked third on Forbes' Best Managed Companies list in the Transportation industry and 31st among all 400 companies named in the Platinum list.
According to the publication, "Once we narrowed down our universe to exactly 400 companies, our editors and writers evaluated the leading companies in each industry on factors such as innovation, efficiency and market leadership. Through additional objective and subjective analysis, they selected the best-managed companies in each of 26 industries."
The Platinum 400 were, according to Forbes, chosen from a search of 1,000 publicly traded companies that have at least $1 billion in sales, positive book value, a stock price of at least $5, and long- and short-term sales and earnings growth and stock market performance. Editors also looked for high marks in corporate accounting and governance practices.
"We're proud to be recognized as an industry leader," said Landstar President and CEO Henry Gerkens. "Landstar's unique business model continues to provide an outstanding foundation for future growth opportunities in both the Landstar Carrier Group and Landstar Global Logistics as the company moves forward as a premium global logistics and transportation solutions provider."
The complete "Platinum 400 List of America's Best Big Companies" can be found in the January 9, 2006 issue of Forbes magazine.
About Landstar:
Landstar System, Inc. delivers safe, specialized transportation and logistics services to a broad range of customers worldwide. The company identifies and fulfills shippers' needs through the coordination of individual businesses comprised of independent sales agents and third-party transportation capacity providers. Landstar's carrier group, which is comprised of Landstar Gemini, Inc., Landstar Inway, Inc., Landstar Ligon, Inc., Landstar Ranger, Inc. and Landstar Carrier Services, Inc., delivers excellence in complete over-the-road transportation services. Landstar Global Logistics, Inc., which is comprised of Landstar Express America, Inc. and Landstar Logistics, Inc., provides international and domestic multimodal transportation (over-the-road, ocean, air and rail), expedited, warehousing and contract logistics services. All Landstar operating companies are certified to ISO 9001:2000 quality management system standards. Landstar System, Inc. is headquartered in Jacksonville, Florida. Its common stock trades on The Nasdaq Stock Market(R) under the symbol LSTR.
The following is a "safe harbor" statement under the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not based on historical facts are "forward-looking statements." This press release contains forward-looking statements, such as statements, which relate to Landstar's business objectives, plans, strategies and expectations. Terms such as "anticipates," "believes," "estimates," "plans," "predicts," "may," "should," "will," the negative thereof and similar expressions are intended to identify forward-looking statements. Such statements are by nature subject to uncertainties and risks, including but not limited to: an increase in the frequency or severity of accidents or workers' compensation claims; unfavorable development of existing accident claims; dependence on independent sales agents and business capacity providers; disruptions or failures in our computer systems; a downturn in domestic or international economic growth or growth in the transportation sector; substantial industry competition; and other operational, financial or legal risks or uncertainties detailed in Landstar's Form 10K for the 2004 fiscal year, described in the section Factors That May Affect Future Results and/or Forward-Looking Statements, and other SEC filings from time to time. These risks and uncertainties could cause actual results or events to differ materially from historical results or those anticipated. Investors should not place undue reliance on such forward-looking statements, and Landstar undertakes no obligation to publicly update or revise any forward-looking statements. the Fortune 500 and a member of the S&P 500.
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