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Quarterly Financial Data
 12 Months Ended
Dec. 28, 2019
Quarterly Financial Data
QUARTERLY FINANCIAL DATA
(Dollars in thousands, except per share amounts)
(Unaudited)
 
Fourth
Quarter
2019
 
  
Third
Quarter
2019
 
  
Second
Quarter
2019
 
  
First
Quarter
2019
 
Revenue
  $
 
 
 
994,879
    $
1,011,658
    $
1,045,040
    $
1,033,000
 
                                 
Operating income
  $
66,519
    $
70,638
    $
80,851
    $
80,896
 
                                 
Income before income taxes
  $
65,656
    $
69,874
    $
80,142
    $
80,091
 
Income taxes
   
15,608
     
16,619
     
19,042
     
16,791
 
                                 
Net income
  $
50,048
    $
53,255
    $
61,100
    $
63,300
 
                                 
Less: Net income/loss attributable to noncontrolling interest
   
—  
      
—  
      
—  
      
(17
 )
                                 
Net income attributable to Landstar System, Inc. and subsidiary
  $
50,048
    $
53,255
    $
61,100
    $
63,317
 
                                 
Earnings per common share attributable to Landstar System, Inc. and subsidiary(1)
  $
1.27
    $
1.35
    $
1.53
    $
1.58
 
                                 
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary(1)
  $
1.27
    $
1.35
    $
1.53
    $
1.58
 
                                 
Dividends per common share
  $
2.185
    $
0.185
    $
0.165
    $
0.165
 
                                 
  
Fourth
Quarter
2018
 
  
Third
Quarter
2018
 
  
Second
Quarter
2018
 
  
First
Quarter
2018
 
Revenue
  $
1,182,351
    $
1,202,081
    $
1,182,786
    $
1,047,926
 
                                 
Operating income
  $
86,088
    $
87,068
    $
83,426
    $
75,153
 
                                 
Income before income taxes
  $
85,189
    $
86,252
    $
82,587
    $
74,353
 
Income taxes
   
16,889
     
19,304
     
20,095
     
16,880
 
                                 
Net income
  $
68,300
    $
66,948
    $
62,492
    $
57,473
 
                                 
Less: Net
income
/
loss attributable to noncontrolling interest
   
44
     
(37
 )    
(31
 )    
(44
 )
                                 
Net income attributable to Landstar System, Inc. and subsidiary
  $
68,256
    $
66,985
    $
62,523
    $
57,517
 
                                 
Earnings per common share attributable to Landstar System, Inc. and subsidiary(1)
  $
1.69
    $
1.63
    $
1.51
    $
1.37
 
                                 
Diluted earnings per share attributable to Landstar System, Inc. and subsidiary(1)
  $
1.68
    $
1.63
    $
1.51
    $
1.37
 
                                 
Dividends per common share
  $
0.165
    $
0.165
    $
0.150
    $
0.150
 
                                 
(1) Due to the changes in the number of average common shares and common stock equivalents outstanding during the year, the sum of earnings per share amounts for each quarter do not necessarily sum in the aggregate to the earnings per share amounts for the full year.