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SAIA | Saia, Inc. Reports Second Quarter 2009 Results

I really believe we are headed in the right direction. The loss for the quarter was $400k. The debt of the company was reduced by $20 million. While it would have been better to have had even a one dollar profit, the loss trend is being reversed. Not necessarily an easy thing right now.
 
Second Quarter 2009 Compared to Second Quarter 2008 Results from Continuing Operations

-- Revenues were $218 million, a decrease of 21 percent from the prior year quarter.

-- Operating loss was $0.4 million compared to operating income of $10.9 million in the prior year quarter.

-- Losses per share were $0.13 vs. earnings per share of $0.46 in the prior year quarter. The prior year quarter included recognition of an alternative fuel tax credit related to prior periods of $0.10 per share.

-- Operating ratio was 100.2 vs. 96.1 in the prior year quarter.

-- LTL tonnage was down 6.2 percent from the prior year quarter as LTL shipments per workday were down 3.0 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 goes from a 103+ OR to a 100.2.Considering the market, that is looking pretty good to me. Old Dominion may be lower but their OR increased by 3 or 4 cents.
 
Saia Loses $1.7M
Tonnage, shipments, weight, yield decline in weak shipping environment
Saia lost $1.7 million in the second quarter on revenue of $218 million, which was 21 percent lower than in the prior year quarter. Last year before the recession had its full impact on the freight economy, Saia earned a net profit of $5.3 million in the second quarter on revenue of $276 million.
The Johns Creek, Ga.-based multi-regional less-than-truckload carrier said tonnage was down 6.2 percent from the prior year quarter as LTL shipments per workday were down 3 percent with a 3.4 percent decrease in weight per shipment.
On April 1, the company reduced executive compensation by 10 percent and cut wages 5 percent for hourly, linehaul and salaried employees in operations, maintenance and administration.
Saia Loses $1.7M | Journal of Commerce

SAIA...15.96...-0.26...-1.61%

SAIA--
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http://www.truckingboards.com/truck...panies-also-had-big-bounce-35.html#post671772

:shift:
 
DirtyRice said:
sorry but old dominion operated at 93.2% 2q 2009 made over 10 mill.
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Sorry I grabbed the combined 1st and 2nd quarter OR for Old Dominion

The real question is why is the Saia OR so much higher than its competitors? In good times they are operation in the 90's when their competitors are in the 80's and now in the recession they operate in the 100's when the competition is in the 90's.
 
jack knife said:
creative book keeping. you don't really think they want to give us any thing back do you
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Stock holders are the ones that are getting fed up. The stock holders want to make money and it is the responsibility of the officers of the company to maximize share holder value. By showing a loss they are only annoying the share holders who want to see growth. The employees are last in line when it comes to who gets anything.
How old is the tractor fleet? They can depreciate the value of the equipment over 10 years but after 10 years the equipment is fully depreciated. The salvage value is all that is left.
 
cstaats said:
Stock holders are the ones that are getting fed up. The stock holders want to make money and it is the responsibility of the officers of the company to maximize share holder value. By showing a loss they are only annoying the share holders who want to see growth. The employees are last in line when it comes to who gets anything.
How old is the tractor fleet? They can depreciate the value of the equipment over 10 years but after 10 years the equipment is fully depreciated. The salvage value is all that is left.
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We gotta get the repair parts from somewhere. :biglaugh:
 
It can depend on how old some of the trucks are. Some of the trucks should have already been turned into structural steel or rebar by now.

Some of the equipment we inherited from the last two buyouts is in the same sorry shape.

Until the o.r. gets down to target we probably won't see any new trucks unless somebody makes a deal that just can't be refused because of price.
 
I'm perfectly content with my '05. The seats in the '06 and up just don't seem to be as comfy to me. If we get 2010 models, I surely don't want one of those. The D.E.F. is just another thing to screw around with and have to fill. I hope they don't buy any new tractors with our O.R. being what it is.
 
The problem with not buying new equiptmet now is the need for a larger investment later. This sends a bad message to the market. The plus side is Saia can get some great deals now on trucks that were ordered and then walked away from. If they are not picky about color.
 
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