The less-than-truckload and logistics services provider Saia Inc. on Friday reported a significant hike in its fourth quarter net income, totaling $13.6 million compared to $8.1 million a year earlier.
Diluted earnings per share were 53 cents for the fourth quarter compared 32 cents per diluted share in the fourth quarter of 2013 for the Georgia-based fleet.
Revenue in the fourth quarter increased 10% from a year earlier, totaling $310 million.
LTL tonnage increased 4.3% as LTL shipments were up 7.2% and average weight per LTL shipment fell by 2.7%. LTL revenue per hundredweight increased by 6%
For all of 2014 compared to 2013 net income improved to $52 million from $43.6 million while earnings per share were $2.04 compared to $1.73. Revenue was $1.3 billion compared to $1.1 billion in 2013.
LTL tonnage increased 6.3%, while yield improved 4.4%.
"Demand in the quarter was consistent with seasonal expectations and I am pleased with the work of our team to deliver 98% on-time service in the quarter. Our significant year-over-year increase in earnings per share was achieved through our balanced approach towards adding tonnage at a reasonable price," said Saia President CEO Rick O'Dell. "We are proud of Saia's 90 year operating history celebrated in 2014 and it is gratifying to close that year with record revenue and earnings.”