SCS Reports Record Earnings Per Share for 2005

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CS Transportation late Tuesday reported record earnings per share for 2005 and said it earned $10.7 million or 73 cents in the fourth quarter, up from $4.6 million or 30 cents a year earlier.

For the full year, the company earned $27.5 million or $1.82 a share, up from $19.3 million or $1.26 in 2004. The full-year earnings included $4.4 million from a real estate gain, SCS said.

Fourth-quarter revenue rose 14% to $288.3 million, while revenue for the full year gained 12% to $1.1 billion, the company reported.

Regional less-than-truckload unit Saia Motor Freight Line’s revenue increased 22% to $202.4 million, LTL tonnage gained 13% and operating income climbed 33% to $20.4 million.

LTL and truckload unit Jevic Transportation reported a 1% gain in revenue to $87.2 million, though tonnage was down 2%. Operating income was $666,000 at the unit, up from $586,000 in the previous fourth-quarter.

"Profitability at Jevic . . . has not been acceptable in recent years and, in August 2005, we gave Dave Gorman a mandate for change as the new president and chief executive officer of Jevic," SCS’ CEO Bert Trucksess said in a statement.

Some of SCS’ major investors said earlier this month that the company should consider selling the Jevic unit. (Click here for previous coverage.)

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