WASHINGTON (dpa-AFX) - Ryder System, Inc. (R) said its fourth quarter profit was $48.1 million or $0.93 per share, higher than last year's $37.1 million or $0.72 per share. Earnings from continuing operations per share were $0.92 versus $0.80 a year ago. Earnings per share and earnings from continuing operations in the latest quarter included a charge of $0.05 and $2.4 million, respectively, for planned restructuring costs related to the integration of an acquisition. Earnings per share and earnings from continuing operations in the year-earlier period included a net benefit of $0.15 and $7.6 million, respectively, related to certain tax benefits, partially offset by restructuring and other items. Comparable earnings per share from continuing operations were $0.97, up 49% from $0.65 in the year-earlier period. On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.97 per share. Analysts' estimates typically exclude special items. The increase in comparable earnings primarily reflects strong organic growth in commercial rental, the benefit of acquisitions in all business segments, better used vehicle sales results, as well as organic growth in the Supply Chain Solutions segment. Total revenue was $1.54 billion, up 17% from $1.31 billion in the same period in the prior year, reflecting the benefit of acquisitions, organic growth and fuel services. Analysts estimated revenues of $1.54 billion. The company established a first quarter comparable earnings forecast of $0.55 to $0.58 per share. Analysts expect the company to earn $0.69 per share. Ryder forecasts full-year 2012 comparable earnings to be in the range of $4.00 to $4.10 per share, excluding $0.02 per share of acquisition-related restructuring costs anticipated in the first quarter. Total revenue for the full-year 2012 is forecast to be approximately $6.3 billion, up 4% from $6.05 billion in 2011. Analysts expect the company to earn $4.11 per share, on revenues of $6.50 billion.
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