January 4, 2000 Jacksonville, FL - Landstar System, Inc., a safety-first transportation services company, has been recognized by Forbes magazine as one of the nation's top companies. In the magazine's January 10, 2000 issue, Landstar is one of 15 named in the Travel and Transport category of Forbes' Platinum 400 List of America's Best Big Companies.
According to the publication, Forbes began its second annual search for "America's Best Big Companies" with Market Guide's database of 1,600 companies with sales of at least $750 million. To make the list, companies had to clear a rigorous set of hurdles measuring both long and short-term growth. According to the magazine only one in three of America's giant firms made the cut.
"We wanted to compile a list that showed which companies had the numbers to prove they were leaders in their respective industries," said Forbes Statistics Editor Mike Ozanian.
"Landstar's unique business model, fueled by America's entrepreneurial spirit and innovative technology, enables us to provide a great return to investors," said Landstar Chairman, President and CEO Jeff Crowe. "We appreciate the recognition of our efforts in delivering safe, reliable transportation services to businesses throughout North America."
Companies had to show a high return on capital and in sales growth, net income growth and growth in cash flow per share during the past five years including the last 12 months. In addition to scoring a company's absolute performance in growth and profitability, Forbes' system also took into account its performance in relation to other companies in its industry. The Travel and Transport category includes airlines, freight forwarding, trains, trucking and shipping.
"To a large degree,the new economy is being driven by the leadership and success of these big companies," said Ozanian.
Landstar System, Inc. is headquartered in Jacksonville, Florida. Landstar's carrier group comprised of Landstar Gemini, Inc., Landstar Inway, Inc., Landstar Ligon, Inc. and Landstar Ranger, Inc., delivers excellence in complete over-the-road transportation services. Landstar's multimodal group comprised of Landstar Express America, Inc. and Landstar Logistics, Inc., delivers excellence in expedited, contract logistics and intermodal transportation services.