UPDATE 1-Saia posts Q1 results below estimates

Fri Apr 25, 2008 7:44am EDT
 
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April 25 (Reuters) - Less-than-truckload company Saia Inc (SAIA.O) posted first-quarter results below Wall Street estimates, hurt by rising fuel prices, pricing pressures and weak tonnage demand.

The company has a network of 152 terminals used by many freight and trucking companies that only need a small shipment of goods delivered.

For the latest quarter, Saia reported a net loss of $800,000 or 6 cents a share, compared with net income of $3 million or 21 cents a share in the year-ago period.

Revenue rose 8 percent to $249.3 million.

Analysts on average were expecting break even results on revenue of $238.3 million, for the quarter.

In a statement, the company said that the increase in fuel prices, rising faster than the fuel surcharge, hurt the quarter by about $1.3 million, or 6 cents a share.

It also estimated that unusually severe winter weather reduced earnings by about 2 cents a share.

Shares of the company closed at $14.80 Thursday on the Nasdaq. (Reporting by Biswarup Gooptu in Bangalore; Editing by Bernard Orr)

 
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