$14.06
-0.11 (-0.78%)
Saia, Inc. (SAIA)
CAPS Rating:
The Company is an asset-based trucking transportation company that provides a variety of trucking transportation and supply chain solutions to a broad range of industries, including the retail, chemical and manufacturing industries.
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Trucking company Saia Inc. said Friday it swung to a first-quarter loss, hurt by weak pricing and demand compounded by "unprecedented" fuel prices and severe winter weather.
The company posted a loss of $833,000, or 6 cents per share, compared with a year-ago profit of $3 million, or 21 cents per share.
Saia estimated the rapid increase in fuel prices hurt the quarter by 6 cents per share. Severe winter weather had a 2-cent-per-share impact, the company said.
Analysts were expecting break-even earnings per share, according to a poll by Thomson Financial.
Revenue rose 8 percent to $249.3 million, from $231.8 million in the prior-year period.
"We are operating in a difficult economic environment with weak tonnage demand, increasing price competition and escalating fuel prices which continue to pressure margins," President and Chief Executive Rick O'Dell said in a statement. "We are managing through this challenging environment with our targeted sales and marketing programs to build density while continuing to pursue engineered cost and efficiency initiatives."
© 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
There are always more excuses than ideas to fix it. This management seems more concerned about which excuses to use. It snow too much, gas is too high, my dog ate my homework! Don't whine, fix it. Isn't that why the management gets paid the big bucks?"We are managing through this challenging environment with our targeted sales and marketing programs to build density while continuing to pursue engineered cost and efficiency initiatives." (CEO/President Rick O'Dell) What does that mean, sounds like a politician or C-Y-O-A. Isn't that like saying I will start to do my job, tomorrow?