FFEX finds 2005 financial encore difficult

Frozen Food Express Industries Inc (FFEX) has announced its financial and operating results for the three- and nine-month periods ended Sept 30, 2006.

For the 2006 third quarter, total revenue was $127.0 million, compared with $137.5 million during the same quarter of 2005. Net income for the third quarter of 2006 decreased to $2.9 million from $5.0 million for the 2005 third quarter. Third quarter 2006 net income per diluted share of common stock was $0.16, versus $0.26 for the third quarter of 2005.

Total revenue for the nine months ended Sept 30, 2006, fell by less than one percent to $379.9 million from $382.2 million for the same period of 2005. Net income for the first nine months of 2006 totaled $6.9 million, in contrast to $14.1 million during the comparable period of 2005. Diluted net income per share of common stock for the first nine months of 2006 was $0.37, compared with $0.75 during the same period of 2005.