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Saia Profit Up Despite Lower Revenues

April 29, 2015

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File photo by Evan Lockridge
File photo by Evan Lockridge

The mainly less-than-truckload carrier Saia Inc. saw its first quarter profit move higher, according to its earnings report released Wednesday.

Net income totaled $12.6 million, or 49 cents per diluted share, compared to $8.6 million, or 34 cents per diluted share a year earlier for the Georgia-based operation.

Revenues totaled $293 million, a 2.2% decrease from a year earlier when it was $306.3 million.

LTL tonnage decreased 6.6% as LTL shipments were down 2.8%. LTL revenue per hundredweight increased by 4.6% even with materially lower fuel surcharges, according to the company.

"Despite a first quarter that was more sluggish than typical, I am pleased to report that our focus on pricing, safety, network optimization and service enabled us to post significantly improved financial results,” said Saia President and CEO Rick O'Dell. “Difficult year-over-year shipment and tonnage comparisons were further challenged by winter weather, softness in the oil patch and our continued optimization of pricing programs.”

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