Saia (SAIA) 8-K Saia, Inc. Reports Fourth Quarter 2010 Results Revenues were $224 million, an increase of 11% from prior year quarter

Exhibit 99.1

***FOR IMMEDIATE RELEASE***

Saia, Inc. Reports Fourth Quarter 2010 Results
Revenues were $224 million, an increase of 11% from prior year quarter

JOHNS CREEK, GA — January 31, 2011 — Saia, Inc. (NASDAQ: SAIA), a leading multi-regional less-than-truckload (“LTL”) carrier (the “Company”), today reported fourth quarter 2010 results. Earnings per share were $0.04 compared to losses of $0.31 from continuing operations in the prior year quarter. Fourth quarter revenue was $224 million, up 11 percent from the prior year quarter, reflecting enhanced yield and increased tonnage. Operating income was $1.8 million compared to the prior year quarter operating loss of $3.6 million from continuing operations. Fourth quarter 2009 results included $3.9 million in reduced expenses due to a change in vacation policy.

Fourth quarter 2010 highlights include:

• LTL tonnage per workday increased 6.1% over the prior year quarter

• LTL yield increased 5.4% over the prior year quarter due to pricing actions and increased fuel surcharge

• Operating ratio was 99.2 vs. 101.8 in the prior year quarter, which included the impact of the favorable vacation adjustment equating to 1.9 operating points

• Recognition of alternative fuel tax credit of $0.06 per share.

“Our continued focus on measured pricing actions contributed to meaningful improvement in operating results and cash flow compared to the difficult environment of 2009. The combination of tonnage growth, increasing yield and Saia’s continued aggressive cost performance resulted in a significant improvement in our fourth quarter operating ratio. While margins remain short of historical levels and targeted returns, I am directionally pleased with the progress and encouraged by identified opportunities and industry fundamentals as we move into 2011,” said Rick O’Dell, President and Chief Executive Officer.

Revenue for the full year 2010 was $903 million, an increase of 6 percent from 2009. Operating income for 2010 was $12.1 million, compared with an operating loss of $3.7 million from continuing operations in 2009. Net income was $2.0 million in 2010 compared to a loss of $9.0 million from continuing operations in 2009. Earnings per share were $0.12 in 2010 compared to losses per share of $0.67 from continuing operations in 2009.

2010 highlights are summarized as follows:

• LTL tonnage per workday increased 2.9% over 2009

• LTL yield increased 2.9% over 2009 primarily due to the impact of higher fuel surcharge

• Operating ratio from continuing operations was 98.7 vs. 100.4 in the prior year.

Saia, Inc. Fourth-Quarter 2010 Earnings
Page 2

“During 2010, we continued to focus on our core strategy of building density, customer satisfaction and cost reduction supported by engineered process improvements. I am pleased that improving market fundamentals and customer recognition of our quality service has permitted us to achieve meaningful pricing improvement, particularly in the second half of 2010. I believe we are in the early stages of this yield recovery and expect continued near-term progress. We feel that Saia’s broad coverage, strong service offering, effective marketing, focused pricing discipline and consistent cost execution provide a solid foundation for long-term profitable growth and increased shareholder and customer value as industry dynamics improve,” O’Dell said.

Financial Position and Capital Expenditures

Total debt was $90.0 million at December 31, 2010. Net of the Company’s $29.0 million cash balance at December 31, 2010, net debt to total capital was 22.8 percent. This compares to total debt of $90.0 million and net debt to total capital of 28.6 percent at December 31, 2009.

Net capital expenditures for 2010 were $3 million. This compares to $8 million of capital expenditures in 2009. The Company is planning net capital expenditures in 2011 of approximately $45 million. This level reflects a return to Saia’s normal replacement cycle for tractors and continued investment in technology. This capital expenditure outlook may be reevaluated as tonnage improves or for opportunistic purchases.

Conference Call

Management will hold a conference call to discuss fourth-quarter results today at 11:00 a.m. Eastern Time. To participate in the call, please dial 1-800-776-9057 or 913-312-9321 referencing conference ID #4878983. Callers should dial in five to ten minutes in advance of the conference call. This call will be webcast live via the company web site at www.saia.com. A replay of the call will be offered two hours after the completion of the call through February 7, 2011 at 2:00 p.m. Eastern Time. The replay will be available by dialing 1-888-203-1112 or 719-457-0820.

The webcast is also being distributed over CCBN’s Investor Distribution Network to both institutional and individual investors. Individual investors can listen to the call through CCBN’s individual investor center at www.companyboardroom.com or by visiting any of the investor sites in CCBN’s Individual Investor Network. Institutional investors can access the call via CCBN’s password-protected event management site, StreetEvents (www.streetevents.com).

Saia, Inc. (NASDAQ: SAIA) is a less-than-truckload provider of regional, interregional and guaranteed services covering 34 states. With headquarters in Georgia and a network of 147 terminals, the carrier employs 7,500 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.

Saia, Inc. Fourth-Quarter 2010 Earnings
Page 3

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; 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 Comprehensive Safety Analysis 2010, 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.

# # #

CONTACT: Saia, Inc.
Renée McKenzie, Treasurer
RMcKenzie@Saia.com
678.542.3910

Saia, Inc. and Subsidiary
Condensed Consolidated Balance Sheets
(Amounts in thousands)
(Unaudited)

	December 31,			December 31,
	2010			2009
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	29,045		$	8,746
Accounts receivable, net		94,569			87,507
Prepaid expenses and other		29,882			38,300
Total current assets		153,496			134,553
PROPERTY AND EQUIPMENT:
Cost		610,572			615,803
Less: accumulated depreciation		319,634			292,443
Net property and equipment		290,938			323,360
OTHER ASSETS		7,723			8,513
Total assets	$	452,157		$	466,426
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	37,745		$	46,997
Wages and employees’ benefits		19,101			18,793
Other current liabilities		31,777			36,981
Current portion of long-term debt		17,143			—
Total current liabilities		105,766			102,771
OTHER LIABILITIES:
Long-term debt, less current portion		72,857			90,000
Deferred income taxes		39,077			41,867
Claims, insurance and other		28,099			29,107
Total other liabilities		140,033			160,974
SHAREHOLDERS’ EQUITY:
Common stock		16			16
Additional paid-in capital		202,751			201,041
Deferred compensation trust		(2,727	)		(2,737	)
Retained earnings		6,318			4,361
Total shareholders’ equity		206,358			202,681
Total liabilities and shareholders’ equity	$	452,157		$	466,426

Saia, Inc. and Subsidiary
Consolidated Statements of Operations
For the Quarters and Years Ended December 31, 2010 and 2009
(Amounts in thousands, except per share data)
(Unaudited)

	Fourth Quarters						Years
	2010			2009			2010			2009
OPERATING REVENUE	$	224,432		$	202,400		$	902,660		$	849,141
OPERATING EXPENSES:
Salaries, wages and employees’ benefits		119,014			115,106			481,197			486,473
Purchased transportation		19,796			15,358			80,859			64,728
Fuel, operating expenses and supplies		60,502			51,546			233,771			197,108
Operating taxes and licenses		9,301			8,708			36,981			35,465
Claims and insurance		5,377			5,796			21,870			29,812
Depreciation and amortization		8,686			9,523			36,159			39,342
Operating gains, net		(48	)		(45	)		(277	)		(94	)
Total operating expenses		222,628			205,992			890,560			852,834
OPERATING INCOME (LOSS)		1,804			(3,592	)		12,100			(3,693	)
NONOPERATING EXPENSES:
Interest expense		2,375			3,786			10,602			12,156
Other, net		(88	)		(47	)		(435	)		(208	)
Nonoperating expenses, net		2,287			3,739			10,167			11,948
INCOME (LOSS) BEFORE INCOME TAXES		(483	)		(7,331	)		1,933			(15,641	)
Income tax benefit		(1,188	)		(3,040	)		(24	)		(6,605	)
INCOME (LOSS) FROM CONTINUING OPERATIONS		705			(4,291	)		1,957			(9,036	)
Income from discontinued operations, net		—			1,161						1,161
NET INCOME (LOSS)	$	705		$	(3,130	)	$	1,957		$	(7,875	)
Average common shares outstanding — basic		15,730			13,976			15,713			13,423
Average common shares outstanding — diluted		16,135			13,976			16,115			13,423
Basic earnings (loss) per share-continuing operations	$	0.04		$	(0.31	)	$	0.12		$	(0.67	)
Basic earnings per share-discontinued operations		—			0.09			—			0.08
Basic earnings (loss) per share	$	0.04		$	(0.22	)	$	0.12		$	(0.59	)
Diluted earnings (loss) per share-continuing operations	$	0.04		$	(0.31	)	$	0.12		$	(0.67	)
Diluted earnings per share-discontinued operations		—			0.09			—			0.08
Diluted earnings (loss) per share	$	0.04		$	(0.22	)	$	0.12		$	(0.59	)

Saia, Inc. and Subsidiary
Condensed Consolidated Statements of Cash Flows
For the Years Ended December 31, 2010 and 2009
(Amounts in thousands)
(Unaudited)

	Years
	2010			2009
OPERATING ACTIVITIES:
Net cash provided by operating activities	$	23,386		$	14,088
Net cash provided by operating activities		23,386			14,088
INVESTING ACTIVITIES:
Acquisition of property and equipment		(3,815	)		(8,362	)
Proceeds from disposal of property and equipment		560			788
Net cash used in investing activities		(3,255	)		(7,574	)
FINANCING ACTIVITIES:
Repayment of long-term debt		—			(46,500	)
Net proceeds from sale of common stock		—			24,868
Proceeds from stock option exercises		168			296
Payment of debt issuance costs		—			(3,493	)
Net cash provided by (used in) financing activities		168			(24,829	)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		20,299			(18,315	)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		8,746			27,061
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	29,045		$	8,746

Saia, Inc. and Subsidiary
Financial Information
For the Quarters Ended December 31, 2010 and 2009
(Amounts in thousands)
(Unaudited)

										Fourth Quarter
		Fourth Quarter						%		Amount/Workday				%
		2010			2009			Change		2010		2009		Change
Workdays											61		62
Operating ratio			99.2	%		101.8	%
F/S Revenue	LTL		207,716			188,756			10.0		3,405.2		3,044.4		11.8
	TL		16,715			13,645			22.5		274.0		220.1		24.5
	Total		224,432			202,400			10.9		3,679.2		3,264.5		12.7
Revenue excluding	LTL		207,426			188,376			10.1		3,400.4		3,038.3		11.9
revenue recognition	TL		16,692			13,616			22.6		273.6		219.6		24.6
adjustment	Total		224,118			201,992			11.0		3,674.1		3,257.9		12.8
Tonnage	LTL		863			827			4.4		14.15		13.33		6.1
	TL		166			149			11.4		2.73		2.41		13.2
	Total		1,030			976			5.5		16.88		15.74		7.2
Shipments	LTL		1,536			1,508			1.8		25.17		24.32		3.5
	TL		24			21			10.9		0.39		0.34		12.7
	Total		1,559			1,529			2.0		25.56		24.67		3.6
Revenue/cwt.	LTL		12.01			11.40			5.4
	TL		5.02			4.56			10.0
	Total		10.88			10.35			5.2
Revenue/shipment	LTL		135.08			124.92			8.1
	TL		708.01			640.61			10.5
	Total		143.74			132.08			8.8
Pounds/shipment	LTL		1,124			1,096			2.6
	TL		14,110			14,050			0.4
	Total		1,321			1,276			3.5