This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Frozen Food Express Industries, Inc. Announces Improved Fourth Quarter And 2010 Year End Results

Stocks in this article: FFEX

Stoney M. ("Mit") Stubbs, the Company's Chairman and Chief Executive Officer commented, "Despite continued economic challenges, our truckload services continued to support stronger rates and deliver improved utility. We are pleased that our truckload revenue per total mile has held steady since rate increases taken at the end of the first quarter of this year. LTL services continue to benefit from increased focus on improved service dynamics. We've grown LTL tonnage by 5.0% this year compared to last, however we've seen that this part of the market continues to be very competitive in rates. We believe our improved service offering and nationwide footprint will allow us to command stronger rates in the future."

Asset productivity (measured by revenue per truck per week) improved 2.9% to $3,221.00 for 2010 compared to $3,129.00 in 2009. Russell Stubbs, the Company's President commented that, "A key challenge in this market is to increase seated drivers to provide us the benefit of incremental revenue.  We ended 2010 with an average weekly trucks in service number of 1,782 trucks, which was 155 trucks less than our 2009 average. We will grow our truckload revenue in 2011 by correcting this shortage. We have recently opened the FFE Driving Academy to allow us to train and develop new truck driving professionals and have also invested in our existing driver development infrastructure to support increased driver recruitment efforts. This combined with a new, more robust contractor lease program will give us the additional capacity needed in this market to grow our revenue in 2011.  We expect these enhancements will significantly improve our ability to add qualified drivers to our existing fleet and take advantage of opportunities in the truckload marketplace."

Mit Stubbs concluded, "We believe that despite the challenges from continued weakness in the economy, our employees have maintained their resolve to improve key elements of our business model such as improved service metrics, higher truck utility and tonnage growth from our LTL services, each of which will allow us to continue to improve our operating performance." 

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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!

Markets

DOW 17,164.95 -251.90 -1.45%
S&P 500 1,994.99 -26.26 -1.30%
NASDAQ 4,635.24 -48.1670 -1.03%

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