Saia’s Fourth-Quarter Income Declines
LTL Carrier Reports Full-Year Loss After Charge
Saia Inc. said Wednesday its fourth-quarter net income fell to $5.2 million or 35 cents a share, from $10.7 million or 73 cents for the previous fourth quarter.
Saia, the parent of less-than-truckload carrier Saia Motor Freight Line, reported its revenue rose to $219.2 million from $202.4 million.For the year, Saia, formerly SCS Transportation, lost $20.7 million or $1.39 per share, compared with earning $27.5 million or $1.82 in 2005.Excluding a $46.6 million charge for discontinued operations, the company’s income from continuing operations for 2006 was $25.9 million.Full-year revenue rose to $874.7 million from $754 million a year earlier.Last year the company completed the sale of its Jevic Transportation unit to an affiliate of Sun Capital Partners. (Click here for previous coverage.)Saia is ranked No. 23 on the 2006 Transport Topics 100 listing of U.S. and Canadian for-hire carriers.