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.