Saia today, July 25, reported its second-quarter 2008 results:
Year-to-date 2008 results from continuing operations compared to year-to-date 2007:
“Second-quarter margins declined compared to the prior-year quarter primarily due to the weak shipping environment with expenses further impacted by escalating fuel cost and pricing pressure,” said Rick O’Dell, president and chief executive officer of Johns Creek, Ga.-based Saia. “We continue to address the current challenging environment through Saia-specific initiatives including increased marketing efforts and growth in synergy revenue.”
O’Dell said that in spite of a challenging environment, the compamy improved its operating ratio by three points compared to the seasonally weak first quarter. “While I am pleased with this improvement compared to first-quarter results, there is still work to be done,” he said. “We believe Saia is well-positioned to take advantage of any future industry consolidations and an improving economy.”
