Although it posted a loss for the year, Frozen Food Express Industries, Dallas, has reported three consecutive profitable quarters as well as three consecutive quarters in which net earnings have exceeded the comparable year-ago quarter.

FFE reported net income of $84,000 for the quarter ended December 31, 2001, as compared to $67,000 during the 4th quarter of 2000.
FFE President Stoney M. Stubbs Jr. pointed out that the increased net income for the quarter was accomplished despite a $7 million decline in revenue as compared to the 4th quarter of 2000. "Most of the revenue decline came from our non-freight operations, the largest piece of which we sold in late December 2001,"
Stubbs said. "Our total operating income during the 4th quarter was down by about $100,000, but operating income from our non-freight operations fell by about $2 million. Therefore, our core-business, trucking-related 4th quarter operating income actually increased by about $1.9 million over last year's 4th quarter."
For the year ended December 31, 2001, the company reported a loss of $635,000, or 4 cents a share, compared to a loss of $1.2 million, or 7 cents a share, for the year 2000. Revenue for 2001 was $378.4 million, compared to $392.4 million for 2000. Both figures include revenue from the company's non-freight operations, which was $51.1 million in 2001 and $68.8 million in 2000.
The company sold its primary non-freight business in late December of 2001.