Boyd president & CEO Gail Cooper said the return to profitability is due largely to cost-cutting measures, as freight levels have continued to improve only modestly for the carrier. She does predict that freight levels will rise before the year is out, however.
"Although the economic recovery has not been as robust as we had hoped, the growth we have experienced in freight thus far this year has been encouraging," Cooper said. "We also believe the competitive environment is now somewhat more favorable due to capacity contraction.
Cooper said the factors support the company's belief that prospects are good for moderately higher revenues in the second half compared with the same period last year, assuming that the general economic conditions do not deteriorate again.
