Saia second-quarter yields $1.7M loss
SAIA INC. ran in the red in the second quarter, hurt by a revenue drop and declines in tonnage and yield.
The Johns Creek, Ga.-based trucking transportation company (NASDAQ: SAIA) had a net loss of $1.7 million and a loss per share of 13 cents, compared with net income of $5.3 million and earnings of 40 cents a share in the second quarter of 2008.
Second-quarter revenue dropped 21 percent to $218 million.
Less-than-truckload (LTL) tonnage was down 6.2 percent, as LTL shipments per workday were down 3 percent with a 3.4 percent decrease in weight per shipment. LTL yield was down 14.5 percent from the prior year quarter primarily due to the impact of reduced fuel surcharges and competitive pricing.
Saia second-quarter yields $1.7M loss - Atlanta Business Chronicle: