29Oct2011

Frozen Food Express Revenues Rise, Profits Fall

Frozen Food Express Industries, Inc., Dallas, has reported higher operating revenues but an increased net loss for its third quarter ended Sept. 30. Total operating revenue increased $8.9 million to $102.8 million, but the et loss increased to $13.7 million compared to a $2.3 million loss in the same period of 2010.
“While truckload pricing increased 4.5% during the third quarter, our planned reduction of dry freight services and a continued shortage of drivers resulted in fewer weekly average trucks in service and a 5.5% decline in truckload revenue,” said Russell Stubbs, president and CEO. “Both pricing and demand for our less-than-truckload services continued to improve during the third quarter. As a result, our LTL revenue increased 4.5% during the quarter, which marks the fifth consecutive quarter of year-over-year improvement.”

SOURCE: Frozen Food Express Industries, Inc.