Revenue Up At Simon Transportation
January 17, 2000
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%."