July 19, 2005 9:30 AM, EDT

SCS Reports Higher 2Q Profit; Reiterates Lower '05 Outlook

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CS Transportation late Monday reported a first-quarter profit of $5.8 million or 38 cents a share, up from $5.5 million or 36 cents a year earlier.

The company’s revenue rose 10% to $271.9 million, SCS said in a statement. Its operating income rose to $12.2 million, from $11.4 million a year earlier.

SCS’ regional less-than-truckload unit Saia Motor Freight Line had $185.8 million in revenue, a 13% increase. Its tonnage increased 4% from the previous second quarter.

LTL and truckload unit Jevic Transportation reported a 3% revenue increase to $86.1 million, while its tonnage declined 4% from last year.

“Saia continues to deliver stronger operating performance with growth rates increasing . . . [while] Jevic’s operating improvements are ongoing, but weaker tonnage has hindered achieving targeted financial performance,” said Bert Trucksess, chairman and chief executive officer.

SCS had said July 7 statement that accident expenses at Saia would lower full-year earnings by nearly 20 cents a share. (Click here for previous coverage.)

Previously, the Kansas City-based carrier had said its 2005 earnings would be $1.55 to $1.70 per share, but on July 7 lowered that estimate to $1.35 to $1.50 per share, which it reiterated in Monday's earnings statement.

SCS is ranked No. 24 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.