For the nine months ended September 30, 2010, total operating revenue decreased 2.5%, or $6.9 million, to $274.7 million from $281.6 million during the same period in 2009, while total operating revenue, excluding fuel surcharges, decreased 6.7% to $232.8 million from $249.5 million during the same period in 2009. The net loss for the nine months ended September 30, 2010 was ($10.4 million), an improvement of $3.4 million, or 24.7%, compared to the net loss of ($13.8 million) during the same period in 2009. On a per share basis, the loss equated to ($0.61) per diluted share in 2010 compared to ($0.81) per diluted share in 2009.Asset productivity (measured by revenue per truck per week) increased during the third quarter of 2010 by 4.1% to $3,209 from $3,081 in the same period of the last year, primarily due to an improvement in truckload revenue per loaded mile to $1.56 from $1.41 last year, partially offset by a 7.2% decrease in the average weekly trucks in service, or 141 trucks, and an increase in the Company's empty mile ratio to 11.7% from 11.2%. At our revenue per truck per week of $3,209 attained in the third quarter, an additional 141 trucks would have allowed us to attain approximately $5.9 million in additional truckload revenue, net of fuel surcharge, which would have enabled us to surpass our third quarter 2009 revenue, net of fuel surcharge, by approximately $3.4 million.
Frozen Food Express Industries, Inc. Announces Third Quarter 2010 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts