Saia, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Provides Capital Expenditure Guidance for 2013
January 30, 2013 at 07:30 am EST
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Saia, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company's earnings per share were $0.33 compared to $0.15 in the fourth quarter of 2011. Revenues were $264 million with operating income of $10.1 million. This compares to 2011 fourth quarter revenue of $253 million and a reported operating income of $6.2 million. Income before income taxes was $8,441,000 against $3,923,000 a year ago. Net income was $5,406,000 against $2,473,000 a year ago.
For the full year, the company's revenues were $1.1 billion, a 7% increase from last year. For the full-year 2012, operating income was $58.7 million with net income of $32 million. This is compared to operating income of $28.1 million with net income of $11.4 million in the prior year. Earnings per share were $1.94 compared to $0.70 in 2011. Net capital expenditures for 2012 were $83 million. This compares to $68 million in the prior year. Income before income taxes was $51,139,000 against $17,730,000 a year ago. Net income was $32,048,000 against $11,373,000 a year ago. Net cash provided by operating activities was $100,675,000 against $58,211,000 a year ago period.
The company currently plans net capital expenditures in 2013 of approximately $90 million. This expenditure level reflects replacement tractors and trailers and the company's continued investment in technology. The company expects its normalized effective tax rate to be approximately 37.5% for the full year 2013.
Saia, Inc. is a transportation company. The Company provides less-than-truckload (LTL) services through a single integrated organization. It also offers customers a range of other value-added services, including non-asset truckload, expedited, and logistics services across North America. Its subsidiary, Saia Motor Freight Line, LLC (Saia LTL Freight), is an LTL carrier that serves 45 states and provides LTL services to Canada and Mexico through relationships with third-party interline carriers. Saia LTL Freight specializes in offering its customers a range of LTL services, including time-definite and expedited options. Saia LTL Freight primarily provides its customers with solutions for shipments between 100 and 10,000 pounds. Saia LTL Freight operates a network comprised of approximately 198 owned and leased facilities, including three general offices and one warehouse, and also owns approximately 6,500 tractors and 22,100 trailers, including equipment acquired with finance leases.