May 3, 2005 9:45 AM, EDT

Frozen Food Express Reports Higher 1Q Earnings

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rozen Food Express Industries Inc. said late Monday its first-quarter profit rose to $3.3 million or 18 cents a share, from $1.9 million or 11 cents a year earlier.

Total revenue increased 8.4% to $118 million, the company said in a statement. FFE said its income from operations grew by 68% in the quarter over last year.

he company said its revenue included $11.5 million from dedicated services, freight brokerage and equipment rental, compared with $9.8 million last year.

The quarter's results also included fuel surcharge revenue of $10.8 million, from $5 million last year, FFE said.

“This year’s first-quarter fuel expense was $3.6 million, or 28% more than this time last year,” said Chief Executive Officer Stoney Stubbs. “The average price per gallon we paid was up by 30%. We have done fairly well in passing higher fuel costs to our customers.”

Frozen Food Express is ranked No. 44 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.