JACKSONVILLE, Fla., March 3, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Landstar System,
Inc. (Nasdaq: LSTR), a safety-first non-asset based provider of transportation
and logistics services, was ranked third in its industry in Fortune magazine's
list of "America's Most Admired Companies in 2006."
According to the magazine, the one thing that all the Most Admired
Companies have in common is their ability to change with the times. Research
for the annual report started with the Fortune 1,000 -- the 1,000 largest U.S.
companies ranked by revenue -- and the top foreign companies operating in the
U.S. Out of the 10 largest companies in each of 65 industries,
10,000 executives, directors and securities analysts selected the companies
they admire the most. Fortune based its rankings on eight key attributes of
reputation -- innovation, employee talent, use of corporate assets, social
responsibility, quality of management, financial soundness, long-term
investment and quality of products/services.
Landstar President and CEO Henry Gerkens said the company was pleased to
be recognized for the third consecutive year by Fortune magazine and America's
top business leaders. "Landstar's independent agents, business capacity
providers and employees continue to deliver on our reputation as a safe,
reliable transportation and logistics provider," said Gerkens. "The Fortune
survey recognizes that corporate reputation, innovation, quality management
and services, backed by financial stability and long-term investment
opportunities, are the keys to success. We're proud to be leaders in these
areas, in our industry and to be named among the nation's most admired
Fortune's complete list of "America's Most Admired Companies 2006" can be
found on http://www.fortune.com .
Landstar System, Inc. delivers safe, specialized transportation 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's global logistics group, which is comprised
of Landstar Global Logistics, Inc. and its subsidiaries Landstar Express
America, Inc. and Landstar Logistics, Inc., provides international and
domestic multimodal (over-the-road, air, ocean and rail) transportation,
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.
SOURCE Landstar System, Inc.
Ginger Whitcher, Landstar System, Inc., +1-904-390-1457