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FFEX third quarter 2007 revenue declines

Temperature-controlled carrier Frozen Food Express Industries Inc (FFEX) has reported its financial and operating results for the third quarter and nine-month period ended Sept 30, 2007.

For the 2007 third quarter, revenue totaled $114.7 million, compared with $124.1 million during the same period of 2006. Of the $9.4 million revenue decline, $3.5 million (37%) was due to lower fuel surcharge revenue. Revenue, net of fuel surcharges, fell 5.8% from the same quarter in 2006.

FFEX reported an operating loss of $1.3 million in third quarter 2007, versus income of $5.4 million from continuing operations during the comparable 2006 quarter.

For the nine months ended Sept 30, 2007, revenue totaled $334.3 million, in contrast to $371.3 million during the 2006 nine-month period. Included in total revenue were fuel surcharges of $51.5 million for the nine-month period of 2007, compared with $59.4 million for the 2006 nine-month period.

The Dallas TX-based carrier had a net loss of $4.1 million during the 2007 year-to-date period versus net income of $6.9 million in the comparable period of 2006.

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