Saia Reports Third Quarter Earnings per Share of $0.56
Revenues Were $278 Million and Earnings per Share Increased 87%
(firmenpresse) - JOHNS CREEK, GA -- (Marketwire) -- 11/01/12 -- Saia, Inc. (NASDAQ: SAIA), a leading transportation provider offering less-than-truckload, non-asset truckload, expedited and logistics services, today reported improved third quarter 2012 results on higher revenue, favorable pricing actions and operational efficiencies.
Revenues were $278 million, an increase of 3.6 percent
Operating income increased 71 percent to $16.4 million compared to $9.6 million
Earnings per share were $0.56 vs. $0.30
Operating ratio was 94.1 vs. 96.4
Revenue per workday increased by 5.3 percent with one less workday in the third quarter of 2012
LTL tonnage per workday decreased by 1.6 percent
LTL yield was up 6.6 percent due to effective yield management and fuel surcharge revenue
"Saia's 230 basis point improvement in our operating ratio for the quarter demonstrates continued effective execution across a number of key initiatives. Saia's best-in-class service quality, strong yield results and focus on operational excellence were the primary drivers to our margin improvement. While recovery in the transportation market appears to be moderating, we continue to advance our value proposition through investments in quality and by providing consistent, superior customer service. Simultaneously, we remain committed to receiving fair compensation from all the shippers who value Saia's service quality," said Rick O'Dell, president and chief executive officer.
"Saia's Quality Matters initiative resulted in improvements in every major quality metric. Our dedicated associates again delivered 98 percent on-time service and achieved a 36 percent reduction in cargo claims. Implementation of our industrial engineering projects and improved operating efficiencies have reduced our reliance on purchased transportation, increased fuel efficiency and enhanced customer service. The quarter did include higher costs from wage increases and depreciation due to investments in employees, equipment and technology to meet increasing customer and regulatory requirements," continued O'Dell.
On July 2nd, Saia announced the acquisition of Robart Transportation, Inc. and its subsidiary (the Companies). The Companies, now rebranded as Saia TL Plus, Inc. and Saia Logistics Services, LLC., have provided customers with quality truckload, expedited and full service logistics solutions since 1981.
"The acquisition supports our strategic goal of diversifying our service portfolio providing further growth opportunities over time," said O'Dell. "Expanded offerings combined with impressive execution on quality, yield management and optimization initiatives provide Saia with a clear course for long term profitable growth."
Revenues were $834 million compared to $777 million in the prior year period, an increase of 7.3 percent
Operating income was $48.7 million compared to $22.0 million in the prior year period
Net income was $26.6 million compared to $8.9 million in the prior year period
Earnings per share were $1.61 compared to $0.55 in the prior year period
Operating ratio was 94.2 vs. 97.2 in the prior year period
Total debt was $81.2 million at September 30, 2012. Net of the Company's $0.8 million cash balance at quarter-end, net debt to total capital was 24.5 percent. This compares to total debt of $81.4 million and net debt to total capital of 26.5 percent in the prior year quarter.
Net capital expenditures for the first nine months of 2012 were $79.3 million. This compares to $51.8 million in the prior year period. The Company is planning net capital expenditures in 2012 of approximately $83.0 million. This expenditure level reflects the purchase of 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 a.m. Eastern Time. This call will be webcast live via the Company web site at . To participate in the call, please dial 1-877-419-6603 or dial 719-325-4790 for international calls and use conference ID #8643130. Callers should dial in five minutes in advance of the conference call. A replay of the call will be available two hours after the completion of the call through November 7, 2012 at 2:00 p.m. Eastern Time. 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) offers customers a wide range of less-than-truckload, non-asset truckload, expedited and logistics services. Saia LTL Freight operates 147 terminals in 34 states. With headquarters in Georgia, Saia employs 8,000 people. For more information on Saia, Inc. 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; integration risks; 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.
Renee McKenzie
Treasurer
678.542.3910
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Datum: 01.11.2012 - 06:30 Uhr
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