Boyd Bros.’s Revenues Decline

Reporting first quarter results that continue to reflect soft freight conditions, Boyd Bros.Transportation Inc. says the numbers were made worse by the seasonally slow winter period, as well as the ongoing adverse impact of higher fuel costs. The company said operating revenues declined 11% to $30,258,720 versus $33,825,625 last year. Its net loss for the first quarter of 2001 was $292,902 or $0.10

Reporting first quarter results that continue to reflect soft freight conditions, Boyd Bros.Transportation Inc. says the numbers were made worse by the seasonally slow winter period, as well as the ongoing adverse impact of higher fuel costs.

The company said operating revenues declined 11% to $30,258,720 versus $33,825,625 last year. Its net loss for the first quarter of 2001 was $292,902 or $0.10 per share, showing an improvement from the $230,781 reported in the fourth quarter of 2000.

“Although our first quarter reflected lower revenues and a loss for the period, we continue to see encouraging signs of a rebound in general business conditions and our operating outlook,” said president and CEO Gail B. Cooper. “As we expected, warmer weather in March brought with it stronger load counts and increased revenues.”

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