Frozen Food Express Industries, Dallas, Texas, said that for the third quarter, total revenue increased 11.7 percent, to $137.5 million from $123.1 million during the same quarter of 2004.
Third quarter 2005 total revenue included fuel surcharges of $18.7 million, compared to $8.0 million for the same quarter of 2004.
Operating income during 2005's third quarter gained 83.2 percent to $8.9 million from $4.8 million during the same period of 2004. Net income increased 41.4 percent, to $5.0 million or $.26 per diluted share as compared to $3.5 million or $.20 per diluted share during the comparable period of 2004.
Third quarter 2005 results were favorably impacted by higher freight rates, lower claims costs due to improved experience levels in number and severity of incidents, and incremental gains on the sale of equipment which were partially offset by a higher effective tax rate in the period.
For the nine months ended Sept. 30, 2005, total revenue increased 9.2%, to $382.2 million from $350.2 million during the comparable period of 2004. Total revenue during the first nine months of 2005 included fuel surcharges of $43.5 million, compared to $20.2 million during the same period of 2004.
Operating income for the first nine months of 2005 increased 55.8 percent to $20.5 million from $13.2 million in the comparable period of 2004. Net income for the nine months ended Sept. 30, 2005 was $14.1 million or $0.75 per diluted share as compared to $9.0 million or $0.50 per diluted share during the comparable period of 2004.
Chairman and CEO, Stoney M. Stubbs Jr. commented, "Our strong performance in 2005's third quarter reflected the continued favorable pricing environment and effective management of our fuel surcharge programs allowing us to offset dramatic increases in fuel costs. Linehaul mileage was down for the quarter due to the nature of the tasks associated with hurricane clean-up efforts, but we posted operating income gains due to strong demand for our dedicated fleet and special project services and the addition of some higher margin services to the overall revenue mix. The special projects included $1.9 million associated with services provided in the aftermath of Hurricanes Katrina and Rita. All of these factors contributed to a freight operating ratio of 93.7 percent, an improvement of 240 basis points as compared to the third quarter of 2004.
"Our management team remains committed to improving key performance indicators in truckload operations. Our sales and operations group continues to offer the highest level of service to our customer, which enables us to improve our freight pricing. Our average truckload linehaul revenue per loaded mile increased 9.9 percent to $1.55 from $1.41 during the same period last year.”
Third quarter 2005 total revenue included fuel surcharges of $18.7 million, compared to $8.0 million for the same quarter of 2004.
Operating income during 2005's third quarter gained 83.2 percent to $8.9 million from $4.8 million during the same period of 2004. Net income increased 41.4 percent, to $5.0 million or $.26 per diluted share as compared to $3.5 million or $.20 per diluted share during the comparable period of 2004.
Third quarter 2005 results were favorably impacted by higher freight rates, lower claims costs due to improved experience levels in number and severity of incidents, and incremental gains on the sale of equipment which were partially offset by a higher effective tax rate in the period.
For the nine months ended Sept. 30, 2005, total revenue increased 9.2%, to $382.2 million from $350.2 million during the comparable period of 2004. Total revenue during the first nine months of 2005 included fuel surcharges of $43.5 million, compared to $20.2 million during the same period of 2004.
Operating income for the first nine months of 2005 increased 55.8 percent to $20.5 million from $13.2 million in the comparable period of 2004. Net income for the nine months ended Sept. 30, 2005 was $14.1 million or $0.75 per diluted share as compared to $9.0 million or $0.50 per diluted share during the comparable period of 2004.
Chairman and CEO, Stoney M. Stubbs Jr. commented, "Our strong performance in 2005's third quarter reflected the continued favorable pricing environment and effective management of our fuel surcharge programs allowing us to offset dramatic increases in fuel costs. Linehaul mileage was down for the quarter due to the nature of the tasks associated with hurricane clean-up efforts, but we posted operating income gains due to strong demand for our dedicated fleet and special project services and the addition of some higher margin services to the overall revenue mix. The special projects included $1.9 million associated with services provided in the aftermath of Hurricanes Katrina and Rita. All of these factors contributed to a freight operating ratio of 93.7 percent, an improvement of 240 basis points as compared to the third quarter of 2004.
"Our management team remains committed to improving key performance indicators in truckload operations. Our sales and operations group continues to offer the highest level of service to our customer, which enables us to improve our freight pricing. Our average truckload linehaul revenue per loaded mile increased 9.9 percent to $1.55 from $1.41 during the same period last year.”
media brand
0 Comments
See all comments