Expeditors Reports First Quarter 2013 EPS of $.39 Per Share 1

Expeditors Reports First Quarter 2013 EPS of $.39 Per Share¹

SEATTLE--(BUSINESS WIRE)-- Expeditors International of Washington, Inc. (NAS: EXPD) today announced net earnings attributable to shareholders of $80,315,000 for the first quarter of 2013, as compared with $76,707,000for the same quarter of 2012, an increase of 5%. Net revenues and total revenues for the first quarter of 2013 decreased marginally to $445,284,000 and $1,410,485,000 as compared with $446,571,000 and $1,411,370,000, respectively, for the same quarter in 2012. Operating income was $128,518,000in the first quarter of 2013, as compared with $125,271,000² for the same quarter of 2012, an increase of 3%. Diluted net earnings attributable to shareholders per share for the first quarter were $.39, as compared with $.36 for the same quarter in 2012, an increase of 8%.

"There is a certain stability in these quarterly results that may not be as apparent on the surface as they were re-assuring to us here," said Peter J. Rose, Chairman and Chief Executive Officer. "We had a strong finish in March and after having swum in deep waters for so long, it's somewhat invigorating to feel that your feet might actually be touching ground. We still have a ways to go, but despite the continued and well-publicized slide in global PC shipments, historically a large part of our tech business, our 2013 first quarter year-over-year airfreight tonnages were actually up, albeit marginally. This was the second consecutive quarter we've had year-over-year airfreight tonnage increases. While pricing was still somewhat volatile, it was great to see some sustained traction in year-over-year airfreight tonnage growth," Rose went on to say.

"As we look forward to the remainder of 2013, amid the obvious challenges, we do see cause for optimism. The same uncertainty that haunted the global economy in 2012 hasn't entirely gone away. That said, we feel increasingly confident about our ability to address these challenges," Rose continued. "We try to be very realistic here and not allow our perspectives to be overly swayed, either positively or negatively, by conventional financial media wisdom du jour. As we assess our current state, we feel much better about 2013 at the end of the first quarter of 2013 than we did about 2012 at the end of the first quarter of 2012. We have control over our expenses, we're 3% more profitable in our branch operations, and the investments we've made in our people and in our systems continue to build and strengthen the cultural foundation we rely on to create long-term stability. As always, we're grateful to our people for their steadfastness and their commitment to our customers and to each other. That's the kind of commitment our culture fosters and predictably, that's what gets us through tough times," Rose concluded.

Expeditors is a global logistics company headquartered in Seattle, Washington. The company employs trained professionals in 188 full-service offices and numerous satellite locations located on six continents linked into a seamless worldwide network through an integrated information management system. Services include the consolidation or forwarding of air and ocean freight, customs brokerage, vendor consolidation, cargo insurance, domestic time definite transportation services, purchase order management and customized logistics solutions.

¹ Diluted earnings attributable to shareholders per share.

² Includes a European Commission fine of $5.5 million.

NOTE: See Disclaimer on Forward-Looking Statements on the following page of this release.

Investors may submit written questions via e-mail to:investor@expeditors.com. Questions received by the end of business on May 3, 2013 will be considered in management's 8-K "Responses to Selected Questions" expected to be filed on or about May 10, 2013.

Disclaimer on Forward-Looking Statements:

Certain portions of this release contain forward-looking statements which are based on certain assumptions and expectations of future events that are subject to risks and uncertainties, including comments on stability of future quarter results; ability to increase airfreight tonnage and maintain pricing levels; ability to control expenses; ability to improve branch profitability; and ability to make strategic investments in people and systems to create long-term value. Actual future results and trends may differ materially from historical results or those projected in any forward-looking statements depending on a variety of factors including, but not limited to, our ability to maintain consistent and stable operating results, future success of our business model, ability to perpetuate profits, changes in customer demand for Expeditors' services caused by a general economic slow-down, customers' inventory build-up, decreased consumer confidence, volatility in equity markets, energy prices, political changes, regulatory actions or changes or the unpredictable acts of competitors and other risks, risk factors and uncertainties detailed in our Annual Report as updated by our reports on Form 10-Q, filed with the Securities and Exchange Commission.