Saia, Inc. (NASDAQ: SAIA), a leading multi-regional less-than-truckload (LTL) carrier, today reported first quarter 2010 results.
First Quarter 2010 Results Compared to First Quarter 2009
First quarter margins improved primarily due to cost reduction efforts and productivity initiatives. These initiatives include the following:
“While improved relative to 2009 trends, the environment remains difficult with soft tonnage and industry overcapacity which continue to pressure yields. We are addressing this challenging environment with measured pricing decisions, targeted sales and marketing programs and engineered efficiency initiatives. While we are beginning to see some rationalization in pricing, we have a long way to go to recover the yield deterioration experienced over the past two years,” said Rick O’Dell, president and chief executive officer. “In the meantime, our execution is solid on a number of fronts including best in class on-time service and improved performance in key productivity metrics, safety and cargo claims.”“Saia remains committed to managing through these difficult times with a relentless focus on our strategy of building density in our network, customer satisfaction and engineered process improvements to achieve long-term benefits for our customers and shareholders,” O’Dell said.