Saia Improves 2Q Results on Stronger Revenue and Pricing

July 29, 2010

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Less-than-truckload carrier Saia improved its second quarter performance on stronger revenue, better pricing and solid cost performance.

The company, headquartered in Georgia, managed to see net income of $1.98 million, or 12 cents a share, versus a loss of $1.7 million, or 13 cents a share, in the second quarter of 2009.

Revenues were $231 million, a 6 percent rise from the 2009 quarter's revenue of $218 million.

LTL tonnage was up 1.6 percent from the prior year quarter, while LTL yield gained 2.9 percent from the 2009 quarter.

"I am encouraged that improvements in the environment during 2010 have permitted us to implement prudent pricing actions allowing us to produce materially better results than the prior year quarter," said Rick O'Dell, president and CEO. "These pricing actions have resulted in deselecting a number of unprofitable accounts and obtaining increases on the majority of our contracts that were renewed during the quarter.

"Though our absolute results remain challenged by the overall economy, we are continuing our strategy of addressing pricing and remain focused on our cost and quality initiatives," he continued. "We believe Saia is well positioned to take advantage of any future industry consolidations and to capitalize on what appears to be improving industry fundamentals."

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