Saia posts increases in 3Q revenues, income

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Saia Inc. on Tuesday, Oct. 24, announced its third-quarter financial results from continuing operations compared to third-quarter 2005. Revenues were $226 million, an increase of 14 percent on one less workday than the prior-year quarter. Operating income from continuing operations was $14.0 million, up 10 percent from $12.7 million; operating income from continuing operations included $2.3 million in equity-based compensation expense and restructuring charges compared to a benefit of $0.5 million in the prior-year quarter.

“We are pleased with our strong revenue growth, which remains among the best in the industry,” said Bert Trucksess, chairman and chief executive officer of Duluth, Ga.-based Saia. “Despite signs of a moderating economy, we believe Saia is well positioned for long-term profitable growth and shareholder value creation as it builds market share and efficiencies in its existing geography while seeking opportunities for geographic expansion.”

Current quarter revenue from continuing operations exceeded revenue in the prior-year quarter by 16 percent, on an equal workday basis, on the strength of a 7 percent increase in LTL tonnage and stable pricing, said Rick O’Dell, president. “Due to less-than-typical peak season shipping demand, tonnage did not grow as much as in the second quarter year-over-year comparisons,” O’Dell said. “Third-quarter increases were fueled by growth from Saia’s industry-leading Xtreme Guarantee product, continued success in synergy lane business and steady yield improvement.”