Saia Inc. reported improved first quarter 2013, which include revenues which total $274 million, an increase of 1.9%.
Revenue per workday increased by 3.5% with one less workday in the first quarter of 2013. Operating income increased by 32% to $14.5 million from $11 million.
Earnings per share were $0.55, including $0.06 in tax credits enacted in 2013 retroactive to 2012, compared to$0.34. LTL tonnage per workday decreased 2.1%, and LTL yield was up 5.4% due to yield management and higher fuel surcharges
Total debt was $58.8 million at March 31, 2013 resulting in net debt to total capital of 18.1%. This compares to total debt of $86.5 million and net debt to total capital of 27.7% at March 31, 2012.
Net capital expenditures for the first three months of 2013 were $6 million. This compares to $39 million of net capital expenditures in the same period in 2012. The company is planning net capital expenditures in 2013 of approximately $90 million. This expenditure level reflects replacement tractors and trailers to reduce the average age of the company's fleet and the its continued investment in technology.