Saia, Inc. (NASDAQ: SAIA), a leading multi-regional less-than-truckload (LTL) carrier, today reported third quarter 2009 results.

Third Quarter 2009 Compared to Third Quarter 2008 Results from Continuing Operations

• Revenues were $222 million, a decrease of 19 percent from the prior year quarter.
• Operating income was $7.8 million compared to operating income of $7.5 million in the prior year quarter. Results included $8.4 million in reduced expenses due to a change in vacation policy.
• Earnings per share were $0.24 vs. earnings per share of $0.21 in the prior year quarter.
• Operating ratio was 96.5 vs. 97.3 in the prior year quarter.
• LTL tonnage was down 4.4 percent from the prior year quarter as LTL shipments per workday were down 2.3 percent with a 2.2 percent decrease in weight per shipment.
• LTL yield was down 14.2 percent from the prior year quarter primarily due to the impact of reduced fuel surcharges and competitive pricing.

“As in prior periods, our results continue to be affected by a weak shipping environment and lower yields driven by continued pricing pressure. The quarterly results included favorable effects from our change in vacation policy as well as other prudent cost actions taken this year such as multiple reductions in force, a salary and wage reduction and other cost control measures. Unfavorable costs in the quarter included workers’ compensation and group health insurance. We continue to address the challenging environment by taking aggressive actions to control costs and improve productivity through focused engineered initiatives,” said Rick O’Dell, president and chief executive officer.

“While our results remain affected by the economy and overcapacity in the industry, we continue to focus on Saia specific initiatives to improve customer service, invest in technology to enhance efficiency and take prudent balance sheet management actions. We believe that Saia is taking the appropriate measures to be well positioned to take advantage of any future industry consolidations and improvements in the economy. Saia’s dedicated employees remain focused on cost efficiencies to improve profits while providing a strong customer experience delivering over 97% on-time service again this quarter,” O’Dell said.

Year to Date 2009 Compared to Year to Date 2008 Results from Continuing Operations

• Revenues were $647 million compared to $800 million in the prior year period.
• Operating loss was $100 thousand compared to operating income of $20.4 million in the prior year period.
• Net loss was $4.7 million compared to net income of $8.3 million in the prior year period.
• Losses per share were $0.36 compared to earnings per share of $0.61 in the prior year period.

Financial Position and Capital Expenditures

Total debt was $116.3 million at September 30, 2009. Net of the Company’s $18.2 million cash balance at quarter-end, net debt to total capital was 35.2 percent. Total debt has been reduced by $20.1 million during the first nine months from $136.4 million at December 31, 2008.

Net capital expenditures for the first nine months of 2009 were $6.2 million. This compares to $20.5 million in the prior year period. The Company is planning net capital expenditures in 2009 of approximately $10 million. This reduced level is due to the uncertain economic environment and will be reevaluated as tonnage improves.

Conference Call

The Company will hold a conference call to discuss these results today at 11:00 a.m. Eastern Time. To participate in the call, please dial 1-877-558-9192 or dial 706-758-1748 for international calls and using conference ID #34026406. Callers should dial in five to 10 minutes in advance of the conference call. This call will be webcast live via the Company web site at www.saia.com and will be archived on the site. A replay of the call will be available two hours after the completion of the call through October 30, 2009. The replay is available by dialing 1-800-642-1687 or 706-645-9291.

The webcast is also being distributed through the Thomson StreetEvents Network. Individual investors can listen to the call at www.earnings.com, Thomson’s individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson StreetEvents (www.streetevents.com), a password-protected event management site.

Saia, Inc. (NASDAQ: SAIA) is a less-than-truckload provider of regional, interregional and guaranteed services covering 34 states. With headquarters in Georgia and a network of 148 terminals, Saia employs 7,700 people. For more information, visit the Investor Relations section at www.saia.com.

The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make informed investment decisions. This news release contains these types of statements, which are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.

Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “may,” “plan,” “predict,” “believe,” “should” and similar words or expressions are intended to identify forward-looking statements. Investors should not place undue reliance on forward-looking statements, and the Company undertakes no obligation to publicly update or revise any forward-looking statements.

All forward-looking statements reflect the present expectation of future events of our management and are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. These factors and risks include, but are not limited to, general economic conditions including downturns in the business cycle; the creditworthiness of our customers and their ability to pay for services; competitive initiatives and pricing pressures, including in connection with fuel surcharge; the Company’s need for capital and uncertainty of the current credit markets; the possibility of defaults under the Company’s debt agreements (including violation of financial covenants); the possibility that a reduction of our credit rating would result in an increase in interest rates; potential issuance of equity which would dilute stock ownership; indemnification obligations associated with the 2006 sale of Jevic Transportation, Inc.; the effect of ongoing litigation including class action lawsuits; cost and availability of qualified drivers, fuel, purchased transportation, property, revenue equipment and other operating assets; governmental regulations, including but not limited to Hours of Service, engine emissions, compliance with legislation requiring companies to evaluate their internal control over financial reporting, changes in interpretation of accounting principles and Homeland Security; dependence on key employees; inclement weather; labor relations, including the adverse impact should a portion of the Company’s workforce become unionized; effectiveness of company-specific performance improvement initiatives; terrorism risks; self-insurance claims and other expense volatility; and other financial, operational and legal risks and uncertainties detailed from time to time in the Company’s SEC filings.