Frozen Food Express Reports Lower First-Quarter Profit
Company Says It Has Met Nasdaq Listing Requirements
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The carrier received a notice from Nasdaq in May that it was not in compliance with market rules and that it had to meet certain requirements to keep listed. (Click here for previous coverage.)
efrigerated carrier Frozen Food Express Industries said late Thursday it earned $1.9 million or 10 cents a share for the first quarter, compared with $3.3 million or 18 cents a year earlier.
Freight revenue rose 6.7% to $123.6 million for the quarter. Income from operations fell 41.2$ to $3.3 million, the company said in a statement.
FFE said it believes it has met all requirements necessary to keep its stock listed on the Nasdaq Stock Market.
Frozen Food Express is ranked No. 44 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.
