Profits at Frozen Food Express grow
Frozen Food Express Industries Inc. today reported an improved profit from its trucking operations and net income of $2.5 million for the quarter ended June 30.
Second-quarter income from trucking operations was $2.9 million as compared to $0.8 million during the second quarter of 2002. The company's freight operating ratio improved from 99 to 97 between the quarters, about half of which was due to reduced claims and insurance expenses.
Freight revenue for the 2003 quarter was $96.4 million, 14.2% more than the same period last year. Excluding the impact of fuel surcharges, the company's freight revenue improved by 12.4% between the two quarters.