SCS's revenues rise, operating income falls

SCS's operating income was $4.5 million for the quarter, down from $4.9 million a year earlier. Net income in the first quarter of 2003 was $1.3 million, compared with $1.9 million of income before the cumulative effect of the change in accounting for goodwill in the first quarter of 2002.

Revenue at Saia was $123.6 million in the quarter, up 7.5% from $115.0 million a year earlier. Excluding fuel surcharges, revenue was up 4.2%.

At Jevic, first-quarter revenue was $76.5 million, up 11.7% from $68.5 million in the first quarter of 2002. Excluding fuel surcharges, revenue per day was up 5.9% due to both improved pricing and stronger less-than-truckload volume.

SCS President & CEO Bert Trucksess said harsh winter weather affected both Saia and Jevic.