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Logistics firm Expeditors International of Washington’s fourth-quarter net income fell 11% to $69.1 million, or 32 cents a share, from $77.7 million, or 36 cents, a year ago.

Revenue fell 5% to $1.2 billion, the company said. Ocean freight and services revenue fell 24% to $348.3 million, while airfreight services revenue improved 8% to $628.1 million.

Full-year earnings fell 20% to $240.2 million, or $1.11 per share, from $301 million, or $1.37, in 2008. Revenue dropped 27% to $4.1 billion.

Seattle-based Expeditors International of Washington is ranked No. 19 on the Transport Topics Logistics 50 listing of North American logistics companies.