Frozen Food Express narrows first quarter loss

May 9, 2002
In its first quarter report for 2002, Frozen Food Express Industries, Dallas TX, says that its loss for the quarter was $859,000, down from $884,000 for

In its first quarter report for 2002, Frozen Food Express Industries, Dallas TX, says that its loss for the quarter was $859,000, down from $884,000 for the same quarter of 2001. Loss per share for the first quarter 2002 was five cents per share, the same as in 2001. Revenue for the quarter was $79.1 million down from $89.5 million in 2001. The company attributes much of the lower revenue to the sale of W & B Service Company, a refrigeration unit dealership that it had owned for more than 50 years. Although still lower than results for 2001, freight operations showed improvement for the first quarter 2002 to $77.5 million, only slightly lower than the $78.3 million generated from freight operation in the same quarter 2001. With fuel surcharges factored into revenue, freight revenue actually showed a 2% increase in 2002, the company says.

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