Frozen Food Express 1Q Loss Narrows

Refrigerated carrier Frozen Food Express Industries narrowed its loss to $3.7 million, or 22 cents a share, in the first quarter, compared with a loss of $6.1 million, or 36 cents, a year ago.

 

 

Revenue fell 6.9% to $85.8 million, while revenue excluding fuel surcharges fell 11.7% to $73.3 million, the company said in a statement.

 

“Because of the initiatives undertaken and a sensible management approach during these turbulent times, I believe we are well positioned to enjoy the benefits of an economic recovery,” President Stoney Stubbs said in a statement.

 

He added that the company will remain “prudent” when making strategic decisions.

 

Frozen Food Express is ranked No. 53 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.