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Updated:
10/23/2009 11:00:00 AM
Saia Increases 3Q Profit
Saia Inc. said its third-quarter profit increased to $3.3 million, from $2.8 million the prior year.
The per-share profit for the quarter was 24 cents, compared with 20 cents in 2008.
Its operating income was $7.8 million, compared with $7.5 million a year ago.
Revenue fell 19% to $222 million, the company said in a statement. Saia is the parent company of less-than-truckload carrier Saia Motor Freight Line.
LTL tonnage fell 4.4% as shipments per workday fell 2.3% with a 2.2% reduction in weight per shipment, Saia said.
Saia said it reduced expenses by $8.4 million during the quarter due to a change in vacation policy. It also instituted layoffs and salary and wage reductions, among other cost cutting measures.
Saia is ranked No. 25 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
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