Saia Reports Fourth Quarter Earnings per Share of $0.15
Revenues Were $253 Million, an Increase of 13 Percent From Prior Year Quarter
(firmenpresse) - JOHNS CREEK, GA -- (Marketwire) -- 01/31/12 -- Saia, Inc. (NASDAQ: SAIA), a leading multi-regional less-than-truckload (LTL) carrier, today reported improved fourth quarter 2011 results on stronger revenue and improving pricing fundamentals.
Revenues were $253 million, an increase of 13 percent from the prior year period
Operating income increased more than three fold to $6.2 million compared to $1.8 million in the prior year period
Earnings per share were $0.15 compared to $0.04 in the prior year period
Operating ratio was 97.6 compared to 99.2 in the prior year period
LTL tonnage increased by 1.5 percent as LTL shipments per workday were down 1.2 percent with a 2.8 percent increase in weight per shipment
LTL yield was up 11.0 percent due to the impact of favorable pricing actions and higher fuel surcharges
Claims expense was $4.8 million over the prior year due primarily to accident severity
"We continue to leverage our excellent service in the improved industry environment which has allowed us to again advance pricing initiatives across our customer base. We attained solid increases in contract renewals during the quarter from customers who value Saia's service quality. Our focus remains on yield improvement and I believe these steady increases will continue," said Rick O'Dell, president and chief executive officer.
"Our fourth quarter results were impacted by higher costs from health care and maintenance. Quarterly results were further unfavorably affected by higher accident severity and workers' compensation expense including an adjustment for claim development," continued O'Dell.
"In spite of cost challenges, we continue to improve financial and operational results. Saia's dedicated employees provided 98% on-time service during the quarter delivering a strong value proposition in the marketplace. Our balance sheet is strong and we are making significant investments in our business to provide a solid foundation for additional progress in 2012," O'Dell said.
Revenues were $1.0 billion compared to $903 million in the prior year, an increase of 14 percent
Operating income was $28.1 million compared to $12.1 million in the prior year
Net income was $11.4 million compared to $2.0 million in the prior year
Earnings per share were $0.70 compared to earnings per share of $0.12 in the prior year
Operating ratio was 97.3 compared to 98.7 in the prior year
Total debt was $72.9 million at December 31, 2011. This compares to total debt of $90.0 million at December 31, 2010. Net of the Company's $1.3 million cash balance at quarter-end, net debt to total capital was 24.6 percent.
Net capital expenditures in 2011 were $68 million. This compares to $3 million in the prior year period. The Company is planning net capital expenditures in 2012 of approximately $80 million. This expenditure level reflects replacement tractors and trailers and the Company's continued investment in technology.
The Company will hold a conference call to discuss these results today at 11:00 am Eastern Time. This call will be webcast live via the Company web site at . To participate in the call, please dial 1-800-533-7954 or dial 785-830-1294 for international calls and use conference ID 4744631. Callers should dial in five to 10 minutes in advance of the conference call. A replay of the call will be available two hours after the completion of the call through February 6, 2012. The replay is available by dialing 1-888-203-1112 or 719-457-0820.
The webcast is also being distributed through the Thomson StreetEvents Network. Individual investors can listen to the call at , Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson StreetEvents (), a password-protected event management site.
Saia, Inc. (NASDAQ: SAIA) is a less-than-truckload provider of regional, interregional and guaranteed services covering 34 states. With headquarters in Georgia and a network of 148 terminals, Saia employs 7,900 people. For more information, visit the Investor Relations section at .
The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make informed investment decisions. This news release contains these types of statements, which are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.
Words such as "anticipate," "estimate," "expect," "project," "intend," "may," "plan," "predict," "believe," "should" and similar words or expressions are intended to identify forward-looking statements. Investors should not place undue reliance on forward-looking statements and the Company undertakes no obligation to update or revise any forward-looking statements. All forward-looking statements reflect the present expectation of future events of our management as of the date of this news release and are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. These factors, risks, assumptions and uncertainties include, but are not limited to, general economic conditions including downturns in the business cycle; the creditworthiness of our customers and their ability to pay for services; competitive initiatives and pricing pressures, including in connection with fuel surcharge; the Company's need for capital and uncertainty of the current credit markets; the possibility of defaults under the Company's debt agreements (including violation of financial covenants); possible issuance of equity which would dilute stock ownership; indemnification obligations associated with the 2006 sale of Jevic Transportation, Inc.; the effect of litigation including class action lawsuits; cost and availability of qualified drivers, fuel, purchased transportation, real property, revenue equipment and other assets; governmental regulations, including but not limited to Hours of Service, engine emissions, the "Compliance, Safety, Accountability" (CSA) initiative, compliance with legislation requiring companies to evaluate their internal control over financial reporting, changes in interpretation of accounting principles and Homeland Security; dependence on key employees; inclement weather; labor relations, including the adverse impact should a portion of the Company's workforce become unionized; effectiveness of Company-specific performance improvement initiatives; terrorism risks; self-insurance claims and other expense volatility; increased costs as a result of recently enacted healthcare reform legislation and other financial, operational and legal risks and uncertainties detailed from time to time in the Company's SEC filings. As a result of these and other factors, no assurance can be given as to our future results and achievements. A forward-looking statement is neither a prediction nor a guarantee of future events or circumstances and those future events or circumstances may not occur.
CONTACT:
Saia, Inc.
Renee McKenzie
Treasurer
678.542.3910
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Datum: 31.01.2012 - 06:30 Uhr
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