Saia Reports First-Quarter Loss

Saia Inc. Friday reported a first-quarter loss of $833,000, or 6 cents a share, compared with earning $3 million, or 21 cents, a year ago.

Revenue rose 8% to $249.3 million, said Saia, the parent company of less-than-truckload carrier Saia Motor Freight Line.

LTL tonnage was down 4.4% from the previous first quarter, as shipments were down 3% with a 1.5% reduction in weight per shipment, Saia said.

LTL yield was up 12% for the quarter, due primarily to longer average length of haul and the impact of higher fuel surcharges.

“We are operating in a difficult economic environment with weak tonnage demand, increasing price competition and escalating fuel prices which continue to pressure margins,” said Rick O’Dell, Saia’s chief executive officer.

Saia is ranked No. 29 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.