JOHNS CREEK, Ga. — Less-than-truckload carrier Saia posted a smaller fourth-quarter loss Friday after cutting costs.
The recession has forced companies to reduce fees because they are competing for fewer customers, and that has led to aggressive cost cutting efforts.
“Results remain affected by one of the worst economic and shipping environments in decades,” CEO Rick O’Dell said in a statement.
The company said it lost $3.1 million, or 22 cents per share, during the three months ended Dec. 31. That’s compared with a loss of $28 million, or $2.10 per share, in the same quarter last year.
Revenue fell 12 percent to $202.4 million.
Excluding discontinued operations, the company lost a larger 31 cents per share. Analysts surveyed by Thomson Reuters expected a loss of 32 cents per share on $198.6 million in sales, on average. Such estimates typically exclude one-time items.
For the full year, the company’s loss shrunk to $7.9 million, or 59 cents per share. In 2008, the company lost $20.7 million, or $1.56 per share.
The company lost 67 cents per share excluding discontinued operations. Analysts expected a loss of 69 cents per share on $863 million.
Kevin Jones of The Trucker staff can be reached for comment at firstname.lastname@example.org.
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