Frozen Food Express logs Q3 2010 results

Frozen Food Express Industries Inc (FFEX) announced its financial and operating results for the third quarter ended September 30, 2010.

Total operating revenue for the third quarter fell 0.7%, or $0.6 million, to $93.9 million from $94.5 million in the third quarter of 2009. For the third quarter of 2010, total operating revenue, excluding fuel surcharges, decreased 3.1% to $79.5 million from $82.0 million during the third quarter of 2009, and remained relatively unchanged compared with $80.0 million in the second quarter of 2010.

Stoney M “Mit” Stubbs, the company’s chairman and chief executive officer, said, “Our LTL services showed nice year-over-year and sequential increases of 12.5% and 4%, respectively. Likewise, LTL revenue increased 7.2% year over year and 6% sequentially. It is encouraging to see our continued focus on delivering high-quality services and focused sales approach are putting our LTL services back on solid ground. Our truckload services continue to achieve improved pricing yield with a 10.6% improvement, year over year, in revenue per loaded mile.”

For the nine months ended Sept 30, 2010, total operating revenue decreased 2.5%, or $6.9 million, to $274.7 million from $281.6 million during the same period in 2009. Total operating revenue, excluding fuel surcharges, decreased 6.7% to $232.8 million from $249.5 million during the same period in 2009.

Additional information can be found at www.ffeinc.com.

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