Saia, Inc. Reports First Quarter 2013 Earnings
Operating Income Increased 32 Percent to $14.5 Million
(firmenpresse) - JOHNS CREEK, GA -- (Marketwired) -- 04/26/13 -- Saia, Inc. (NASDAQ: SAIA), a leading transportation provider offering multi-regional less-than-truckload (LTL), non-asset truckload and logistics services, today reported improved first quarter 2013 results driven by effective yield management and operational efficiencies.
Revenues were $274 million, an increase of 1.9 percent
Revenue per workday increased by 3.5 percent with one less workday in the first quarter of 2013
Operating income increased by 32 percent to $14.5 million from $11.0 million
Earnings per share were $0.55, including $0.06 in tax credits enacted in 2013 retroactive to 2012, compared to $0.34
Operating ratio was 94.7 compared to 95.9
LTL tonnage per workday decreased 2.1 percent
LTL yield was up 5.4 percent due to yield management and higher fuel surcharges
"Saia's superior service quality, operational excellence and revenue management initiatives facilitated another quarter of improved margins. We achieved a 120 basis point improvement in our operating ratio by marketing to customers who value quality service and by achieving targeted operational efficiencies. I am pleased that the company's execution in key areas continues to progress margins and earnings per share," said Rick O'Dell, Saia President and Chief Executive Officer.
"Saia's service was consistently 98 percent on-time during the quarter. We remain committed to advancing our value proposition through major investments in equipment and technology that are also driving operational efficiencies. I was particularly pleased that we achieved projected efficiencies in our linehaul network performance in spite of relatively soft tonnage. I believe that Saia's strong overall service, focused pricing discipline and operational strength provide a solid foundation for long-term profitable growth and increased shareholder and customer value," O'Dell said.
Total debt was $58.8 million at March 31, 2013 resulting in net debt to total capital of 18.1 percent. This compares to total debt of $86.5 million and net debt to total capital of 27.7 percent 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 our fleet and the Company's continued investment in technology.
Management will hold a conference call to discuss first-quarter results today at 11:00 a.m. Eastern Time. To participate in the call, please dial 1-888-389-5988 or 719-457-2664 referencing conference ID #4697039. Callers should dial in five minutes in advance of the conference call. This call will be webcast live via the Company web site at . A replay of the call will be available starting two hours after the completion of the call through May 2, 2013 at 2:00 p.m. Eastern Time. The replay will be available by dialing 1-888-203-1112 or 719-457-0820.
The webcast is also being distributed over CCBN's Investor Distribution Network to both institutional and individual investors. Institutional investors can access the call via CCBN's password-protected event management site, StreetEvents ().
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; 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
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 26.04.2013 - 05:30 Uhr
Sprache: Deutsch
News-ID 1220667
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
JOHNS CREEK, GA
Phone:
Kategorie:
Trucking
Anmerkungen:
Diese Pressemitteilung wurde bisher 304 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Saia, Inc. Reports First Quarter 2013 Earnings
"
steht unter der journalistisch-redaktionellen Verantwortung von
Saia, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
