Losses for FFE continue

May 3, 2002
Refrigerated carrier Frozen Food Express Industries (FFE) continued to rack up losses in the first quarter, posting an $859,000 loss on $79.1 million in revenue, compared to a loss of $884,000 on $89.5 million in the same period last year. Chairman & CEO Stoney M. (Mit) Stubbs Jr. said fuel surcharges declined to roughly $500,000 this quarter, compared to $3 million in the first quarter of 2001. "If
Refrigerated carrier Frozen Food Express Industries (FFE) continued to rack up losses in the first quarter, posting an $859,000 loss on $79.1 million in revenue, compared to a loss of $884,000 on $89.5 million in the same period last year.

Chairman & CEO Stoney M. (Mit) Stubbs Jr. said fuel surcharges declined to roughly $500,000 this quarter, compared to $3 million in the first quarter of 2001. "If you ignore the fuel surcharges, our freight revenue improved by about 2%," he said.

Stubbs added that Dallas-based FFE is trying to renegotiate a new three-year line of credit, as its current credit line expires June 1.

"When you've got the kind of economy we're operating in, with sluggish demand and rising fuel prices, I'll take any kind of improvement I can get," he said.

About the Author

Sean Kilcarr | Editor in Chief

Sean reports and comments on trends affecting the many different strata of the trucking industry -- light and medium duty fleets up through over-the-road truckload, less-than-truckload, and private fleet operations Also be sure to visit Sean's blog Trucks at Work where he offers analysis on a variety of different topics inside the trucking industry.

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