SCS Transportation Inc., Kansas City, Mo., reported revenue of $211.5 million in the third quarter of 2003, up 5.2% from $201.2 million in the prior-year period.
Operating income in the third quarter rose 37.8% to $11.2 million, from $8.1 million a year earlier. Net income increased 28.1% to $5.1 million for the quarter, from $4 million in the third quarter of 2002.
Earnings per share for the third quarter of 2003 were $0.34, up 25.9% from $0.27 a year earlier.
"As we conclude our first year as an independent company, we are pleased to again report improvements in revenue, operating income and earnings," said Bert Trucksess, chairman, president and chief executive officer of SCS Transportation. "Moving into our second year, we are encouraged by signs of an improving economy, that along with our operating initiatives, point toward continuing upside opportunities."
He said third-quarter revenues, operating income and less-than-truckload (LTL) volumes increased for both operating companies, Saia and Jevic, versus the prior-year quarter. Yields remained relatively stable but continued to reflect competitive pricing conditions in the industry.
Operating income in the third quarter rose 37.8% to $11.2 million, from $8.1 million a year earlier. Net income increased 28.1% to $5.1 million for the quarter, from $4 million in the third quarter of 2002.
Earnings per share for the third quarter of 2003 were $0.34, up 25.9% from $0.27 a year earlier.
"As we conclude our first year as an independent company, we are pleased to again report improvements in revenue, operating income and earnings," said Bert Trucksess, chairman, president and chief executive officer of SCS Transportation. "Moving into our second year, we are encouraged by signs of an improving economy, that along with our operating initiatives, point toward continuing upside opportunities."
He said third-quarter revenues, operating income and less-than-truckload (LTL) volumes increased for both operating companies, Saia and Jevic, versus the prior-year quarter. Yields remained relatively stable but continued to reflect competitive pricing conditions in the industry.
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