William B. Cassidy | Jul 29, 2010 2:04PM EDT
Less-than-truckload carrier Saia said it ended a string of quarterly losses with a $2 million net profit in the second quarter, as heavier shipments and stronger pricing pushed revenue up 6 percent.
The John’s Creek, Ga.-based regional LTL carrier increased sales to $231 million. Revenue was up almost 9 percent from the first quarter.
That ended a long string of losses for Saia, which lost $3.2 million loss in the first quarter and a $1.7 million loss a year ago. Saia lost $7.9 million in 2009.
“This is a clear reversal from the pricing and challenging volume environment in which we have been operating,” said Rick O'Dell, president and CEO.
The carrier increased its tonnage 1.6 percent from the same period last year. LTL shipments per day dropped 2.4 percent, but shipment weight increased 4.1 percent.
LTL yield, a measure of pricing, was up 2.9 percent from a year ago, thanks to what O’Dell called “prudent pricing actions” and higher fuel surcharge revenue.
Contact William B. Cassidy at wcassidy@joc.com