Saia Reports Second Quarter Earnings per Share of $0.72

JOHNS CREEK, GA--(Marketwire - Jul 27, 2012) - Saia, Inc. (NASDAQ: SAIA), a leading multi-regional less-than-truckload (LTL) carrier, today reported improved second quarter 2012 results on stronger revenue, improved pricing fundamentals and operational efficiencies.

Second Quarter 2012 Compared to Second Quarter 2011 Results

• Revenues were $288 million, an increase of 8.1 percent
• Operating income increased 157 percent to $21.2 million compared to $8.3 million
• Earnings per share were $0.72 vs. $0.21
• Operating ratio was 92.6 vs. 96.9
• LTL tonnage increased by 1.1 percent as LTL shipments per workday were down 2.1 percent with a 3.3 percent increase in weight per shipment
• LTL yield was up 7.1 percent due to the favorable impact of pricing actions

"I am pleased with the contributions on many fronts that resulted in a 430 basis point improvement in our operating ratio for the quarter. Saia's excellent service quality, continued progress with yield and focus on operational excellence were key contributors to our margin improvement. Supported by the recovery in the transportation market, we continue to advance our value proposition with investments in quality and refinements in pricing," said Rick O'Dell, president and chief executive officer.

"Saia again consistently delivered 98 percent on-time service and we saw progress in essentially every quality metric we measure. Safety and cargo claim reduction programs also produced positive results and contributed to favorable quarterly comparisons. Our industrial engineering initiatives and operational efficiencies have reduced our reliance on purchased transportation, enhanced fuel efficiency and reduced our self insurance costs. The quarter included higher costs from wage and benefits increases necessary to support our workforce as well as higher depreciation expense from investments in our fleet and technology to meet increasing customer and regulatory requirements," continued O'Dell.

"Saia's balance sheet is strong and our investments in technology and equipment continue to support operational efficiencies and enhance our company image. I believe that our fundamental execution on quality, yield management and optimization initiatives has never been better and provides Saia with a sound foundation for further progress," O'Dell said.

Year to Date 2012 Compared to Year to Date 2011 Results

• Revenues were $556 million compared to $509 million in the prior year period, an increase of 9.3 percent
• Operating income was $32.2 million compared to $12.3 million in the prior year period
• Net income was $17.4 million compared to $4.1 million in the prior year period
• Earnings per share were $1.06 compared to $0.25 in the prior year period
• Operating ratio was 94.2 vs. 97.6 in the prior year period

Financial Position and Capital Expenditures
Total debt was $90.7 million at June 30, 2012. Net of the Company's $0.8 million cash balance at quarter-end, net debt to total capital was 27.4 percent. This compares to total debt of $81.4 million and net debt to total capital of 25.1 percent in the prior year quarter.

Net capital expenditures for the first six months of 2012 were $69.3 million. This compares to $20.6 million in the prior year period. The Company is planning net capital expenditures in 2012 of approximately $80.0 million. This expenditure level reflects replacement tractors and trailers and the Company's continued investment in technology.

Conference Call
The Company will hold a conference call to discuss these results today at 10:00 a.m. Eastern Time. This call will be webcast live via the Company web site at www.saia.com. To participate in the call, please dial 1-888-523-1245 or dial 719-325-2394 for international calls and use conference ID #4471158. Callers should dial in five minutes in advance of the conference call. A replay of the call will be available two hours after the completion of the call through August 5, 2012. The replay is available by dialing 1-888-203-1112 or 719-457-0820.

The webcast is also being distributed through the Thomson StreetEvents Network. Individual investors can listen to the call at www.earnings.com, Thomson's individual investor portal, powered by StreetEvents. Institutional investors can access the call via Thomson StreetEvents (www.streetevents.com), a password-protected event management site.

Saia, Inc. (NASDAQ: SAIA) is a leading, less-than-truckload ("LTL") provider of regional, interregional and guaranteed services covering 34 states with truckload brokerage and value-added logistics services. Headquartered in Georgia, the carrier employs 8,200 people. For more information, please visit the Investor Relations section of the website at www.saia.com.

The Securities and Exchange Commission encourages companies to disclose forward-looking information so that investors can better understand the future prospects of a company and make informed investment decisions. This news release contains these types of statements, which are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.

Words such as "anticipate," "estimate," "expect," "project," "intend," "may," "plan," "predict," "believe," "should" and similar words or expressions are intended to identify forward-looking statements. Investors should not place undue reliance on forward-looking statements and the Company undertakes no obligation to update or revise any forward-looking statements. All forward-looking statements reflect the present expectation of future events of our management as of the date of this news release and are subject to a number of important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those described in any forward-looking statements. These factors, risks, assumptions and uncertainties include, but are not limited to, general economic conditions including downturns in the business cycle; the creditworthiness of our customers and their ability to pay for services; competitive initiatives and pricing pressures, including in connection with fuel surcharge; the Company's need for capital and uncertainty of the current credit markets; the possibility of defaults under the Company's debt agreements (including violation of financial covenants); possible issuance of equity which would dilute stock ownership; integration risks; indemnification obligations associated with the 2006 sale of Jevic Transportation, Inc.; the effect of litigation including class action lawsuits; cost and availability of qualified drivers, fuel, purchased transportation, real property, revenue equipment and other assets; governmental regulations, including but not limited to Hours of Service, engine emissions, the "Compliance, Safety, Accountability" (CSA) initiative, compliance with legislation requiring companies to evaluate their internal control over financial reporting, changes in interpretation of accounting principles and Homeland Security; dependence on key employees; inclement weather; labor relations, including the adverse impact should a portion of the Company's workforce become unionized; effectiveness of Company-specific performance improvement initiatives; terrorism risks; self-insurance claims and other expense volatility; increased costs as a result of recently enacted healthcare reform legislation and other financial, operational and legal risks and uncertainties detailed from time to time in the Company's SEC filings. As a result of these and other factors, no assurance can be given as to our future results and achievements. A forward looking statement is neither a prediction nor a guarantee of future events or circumstances and those future events or circumstances may not occur.

Saia, Inc. and Subsidiary
Condensed Consolidated Balance Sheets
(Amounts in thousands)
(Unaudited)
				June 30,				December 31,
				2012				2011
ASSETS
CURRENT ASSETS:
	Cash and cash equivalents			$	826			$	1,317
	Accounts receivable, net				123,697				107,436
	Prepaid expenses and other				27,169				34,063
		Total current assets			151,692				142,816
PROPERTY AND EQUIPMENT:
	Cost				718,956				669,345
	Less: accumulated depreciation				346,762				344,890
		Net property and equipment			372,194				324,455
OTHER ASSETS					7,978				7,615
		Total assets		$	531,864			$	474,886
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
	Accounts payable			$	49,033			$	39,783
	Wages and employees' benefits				31,345				21,185
	Other current liabilities				39,359				41,237
	Current portion of long-term debt				22,143				22,143
		Total current liabilities			141,880				124,348
OTHER LIABILITIES:
	Long-term debt, less current portion				68,588				50,714
	Deferred income taxes				53,158				51,289
	Claims, insurance and other				30,042				29,234
		Total other liabilities			151,788				131,237
STOCKHOLDERS' EQUITY:
	Common stock				16				16
	Additional paid-in capital				205,368				203,793
	Deferred compensation trust				(2,265	)			(2,199	)
	Retained earnings				35,077				17,691
		Total stockholders' equity			238,196				219,301
		Total liabilities and stockholders' equity		$	531,864			$	474,886

Saia, Inc. and Subsidiary
Consolidated Statements of Operations
For the Quarters and Six Months Ended June 30, 2012 and 2011
(Amounts in thousands, except per share data)
(Unaudited)
				Second Quarter								Six Months
				2012				2011				2012				2011
OPERATING REVENUE				$	287,538			$	265,901			$	556,228			$	508,919
OPERATING EXPENSES:
	Salaries, wages and employees' benefits				140,239				130,669				271,939				253,409
	Purchased transportation				21,052				24,653				40,361				45,719
	Fuel, operating expenses and supplies				77,354				76,186				156,751				146,127
	Operating taxes and licenses				9,750				9,600				19,616				18,957
	Claims and insurance				6,102				7,836				12,276				15,088
	Depreciation and amortization				11,951				8,803				23,366				17,376
	Operating gains, net				(102	)			(102	)			(321	)			(103	)
		Total operating expenses			266,346				257,645				523,988				496,573
OPERATING INCOME					21,192				8,256				32,240				12,346
NONOPERATING EXPENSES:
	Interest expense				2,195				2,955				4,159				5,953
	Other, net				(3	)			(19	)			(98	)			(110	)
		Nonoperating expenses, net			2,192				2,936				4,061				5,843
INCOME BEFORE INCOME TAXES					19,000				5,320				28,179				6,503
Income tax expense					7,149				1,962				10,793				2,432
NET INCOME				$	11,851			$	3,358			$	17,386			$	4,071
Average common shares outstanding - basic					15,885				15,791				15,859				15,780
Average common shares outstanding - diluted					16,514				16,188				16,472				16,167
Basic earnings per share				$	0.75			$	0.21			$	1.10			$	0.26
Diluted earnings per share				$	0.72			$	0.21			$	1.06			$	0.25

Saia, Inc. and Subsidiary
Condensed Consolidated Statements of Cash Flows
For the Six Months Ended June 30, 2012 and 2011
(Amounts in thousands)
(Unaudited)
				Six Months
				2012				2011
OPERATING ACTIVITIES:
Net cash provided by operating activities				$	50,326			$	10,711
		Net cash provided by operating activities			50,326				10,711
INVESTING ACTIVITIES:
	Acquisition of property and equipment				(71,442	)			(20,893	)
	Proceeds from disposal of property and equipment				2,138				275
		Net cash used in investing activities			(69,304	)			(20,618	)
FINANCING ACTIVITIES:
	Repayment of long-term debt				(11,071	)			(8,571	)
	Borrowings of revolving credit agreement, net				28,945				-
	Proceeds from stock option exercises				613				149
		Net cash provided by (used in) financing activities			18,487				(8,422	)
NET DECREASE IN CASH AND CASH EQUIVALENTS					(491	)			(18,329	)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD					1,317				29,045
CASH AND CASH EQUIVALENTS, END OF PERIOD				$	826			$	10,716

Saia, Inc. and Subsidiary
Financial Information
For the Quarters Ended June 30, 2012 and 2011
(Amounts in thousands)
(Unaudited)
													SecondQuarter
				Second Quarter						%			Amount/Workday				%
				2012			2011			Change			2012		2011		Change
Workdays													64		64
Operating ratio				92.6	%		96.9	%
F/S Revenue		LTL		266,144			245,530			8.4			4,158.5		3,836.4		8.4
		TL		21,394			20,371			5.0			334.3		318.3		5.0
		Total		287,538			265,901			8.1			4,492.8		4,154.7		8.1
Revenue excluding		LTL		265,974			245,601			8.3			4,155.8		3,837.5		8.3
revenue recognition		TL		21,379			20,377			4.9			334.1		318.4		4.9
adjustment		Total		287,353			265,978			8.0			4,489.9		4,155.9		8.0
Tonnage		LTL		970			959			1.1			15.16		14.99		1.1
		TL		193			189			2.4			3.02		2.95		2.4
		Total		1,163			1,148			1.3			18.18		17.94		1.3
Shipments		LTL		1,656			1,691			(2.1	)		25.87		26.42		(2.1	)
		TL		28			27			2.8			0.43		0.42		2.8
		Total		1,684			1,718			(2.0	)		26.31		26.84		(2.0	)
Revenue/cwt.		LTL		13.71			12.80			7.1
		TL		5.53			5.39			2.5
		Total		12.35			11.58			6.6
Revenue/shipment		LTL		160.62			145.24			10.6
		TL		771.04			755.80			2.0
		Total		170.68			154.82			10.2
Pounds/shipment		LTL		1,172			1,134			3.3
		TL		13,946			14,013			(0.5	)
		Total		1,382			1,337			3.4