This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Frozen Food Express Industries, Inc. Announces Third Quarter 2010 Results

DALLAS, Oct. 27, 2010 (GLOBE NEWSWIRE) -- Frozen Food Express Industries, Inc. (Nasdaq:FFEX) announced its financial and operating results for the third quarter ended September 30, 2010. Highlights for the quarter include:

  • Total operating revenue was $93.9 million versus $94.5 million during the third quarter 2009  
  • Net loss improved to $2.3 million versus $2.6 million during the third quarter 2009  
  • Less than truckload ("LTL") tonnage increased 12.5% on a 10.1% increase in shipment count versus the third quarter 2009   
  • 10.6% improvement in truckload revenue per laden mile versus the third quarter 2009   
  • 4.1% improvement in revenue per truck per week versus the third quarter 2009   
  • No long-term debt outstanding and cash on hand of $2.2 million as of September 30, 2010

For the third quarter ended September 30, 2010, total operating revenue decreased 0.7%, or $0.6 million, to $93.9 million from $94.5 million in the third quarter of 2009. For the third quarter of 2010, total operating revenue, excluding fuel surcharges, decreased 3.1% to $79.5 million from $82.0 million during the third quarter of 2009, and remained relatively unchanged compared to $80.0 million in the second quarter of 2010.   After recognition of a $4.4 million tax benefit for the third quarter 2010 versus a tax benefit of $2.1 million for the third quarter 2009, the net loss for the third quarter was ($2.3 million), or ($0.13) per diluted share. This compares with a net loss of ($2.6 million), or ($0.15) per share for the third quarter of 2009

Stoney M. ("Mit") Stubbs, the Company's Chairman and Chief Executive Officer commented, "Our LTL services showed nice year over year and sequential increases of 12.5% and 4%, respectively. Likewise, LTL revenue increased 7.2% year over year and 6% sequentially. It is encouraging to see our continued focus on delivering high quality services and focused sales approach are putting our LTL services back on solid ground. Our truckload services continue to achieve improved pricing yield with a 10.6% improvement, year over year, in revenue per loaded mile." 

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs