Saia swings to Q1 loss
Saia Inc. (Nasdaq:SAIA) shares are up slightly after the transportation and supply chain services company posted a first-quarter loss of $0.8 million, or $0.06 per share, compared with a profit of $3 million, or $0.21 per share, a year earlier. Wall Street analysts projected breakeven earnings. Quarterly revenue increased 8% to $249.3 million, versus $231.8 million a year ago. Wall Street anticipated $237.3 million in revenue. The Duluth, Ga.-based company blamed the quarterly results on weak demand, bad weather and record-high fuel prices.
In Friday afternoon trading, SAIA shares are up 2.36%, or $0.35 at $15.15. For detailed price information and recent news stories about Saia, click SAIA.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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