Russ MacNeil for TT
Less-than-truckload carrier Saia Inc. said its net income grew to $8 million, or 32 cents a share, in the fourth quarter.
That compares with a $5.4 million profit in the fourth quarter of 2012, or 22 cents, Saia said in a Jan. 31 statement.
Revenue was $280 million in the quarter, a 5.8% increase. Operating income, which excludes interest and other expenses, was $14.7 million, a 46% increase.
Operating ratio improved to 94.7% from 96.2%.
Full-year net income increased to $43.6 million, or $1.73 per share, from $32 million, or $1.29 per share, in 2012. Revenue in 2013 increased to $1.1 billion.
“Investments in technology, equipment and continuous on-going employee training have allowed Saia to post its ninth consecutive quarter of 98% on-time service. The combination of strong service and our committed pricing effort enabled Saia to improve its operating ratio by 150 basis points versus fourth quarter last year,” CEO Rick O’Dell said in a statement.