Expeditors International of Washington, 05/14/97div
By: Expeditors International of Washington, Inc.
999 Third Avenue, Suite 2500
Seattle, Washington 98104
CONTACT: R. Jordan Gates
Chief Financial Officer
On the Internet: http://www.expd.com FOR IMMEDIATE RELEASE
EXPEDITORS INCREASES CASH DIVIDEND 25%
SEATTLE, WASHINGTON, May 14, 1997, Expeditors International of Washington, Inc. (NASDAQ:
EXPD), today announced that its Board of Directors declared a semi-annual cash dividend of
$.05 per share, which represents an increase of 25% percent as compared with the prior year’s
dividend. This cash dividend will be payable on June 16, 1997 to shareholders of record as of
June 2, 1997.
For the three-months ended March 31, 1997, net earnings increased 48% to $5,598,000 compared
to 3,789,000 for the first quarter of 1996 and net earnings per share increased 47% to $.22
compared to $.15 for the same period in 1996. For the year ended December 31, 1996, total
revenues and net earnings were $730,088,000 and $24,263,000, respectively.
Expeditors is a global logistics company. Headquartered in Seattle, Washington, the company
employs trained professionals in 133 offices and international service centers located in six
continents linked into a seamless worldwide network through an integrated information
management system. Services include air and ocean freight forwarding, vendor consolidation
customs clearance, marine insurance, distribution and other value added international