Simon Transportation Services said revenue was up for the quarter ended December 31, 1999, the first quarter of its 2000 fiscal year, and its operating ratio is improving.
Revenue rose 2% to $53.9 million, and the net loss was $141,000 or 2 cents per diluted share, compared with net earnings of $45,000 or 1 cent per diluted share for the corresponding quarter a year ago.
Chairman Richard D. Simon said the fleet's operating ratio has improved 5.7% over the past year by improving customer service, retaining more drivers and selecting more profitable freight.
"During the quarter, we selected more profitable freight and we realized a drop in our empty miles percentage from the previous quarter," he said. "As a result, we improved our rate per mile for the quarter by 4 cents, net of fuel surcharge. We also showed improvement compared to the previous quarter in our driver retention and reduced our driver turnover by 13%."
Revenue rose 2% to $53.9 million, and the net loss was $141,000 or 2 cents per diluted share, compared with net earnings of $45,000 or 1 cent per diluted share for the corresponding quarter a year ago.
Chairman Richard D. Simon said the fleet's operating ratio has improved 5.7% over the past year by improving customer service, retaining more drivers and selecting more profitable freight.
"During the quarter, we selected more profitable freight and we realized a drop in our empty miles percentage from the previous quarter," he said. "As a result, we improved our rate per mile for the quarter by 4 cents, net of fuel surcharge. We also showed improvement compared to the previous quarter in our driver retention and reduced our driver turnover by 13%."
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