Saia (SAIA) 8-K SCS Transportation Announces Second-Quarter EPS of $0.38

Exhibit 99.1

July 18, 2005

SCS Transportation Announces Second-Quarter EPS of $0.38

KANSAS CITY, Mo. — July 18, 2005 — SCS Transportation, Inc. (NASDAQ: SCST), today reported second-quarter revenue of $271.9 million, up 10 percent from $248.2 million in the second quarter of 2004. Consolidated operating income was $12.2 million in the second quarter, up 7 percent from $11.4 million a year earlier, which included $1.1 million in integration charges pertaining to a Midwest acquisition. Net income was $5.8 million in the quarter, a 6 percent increase from $5.5 million in the second quarter of 2004. Earnings per share were $0.38, up 6 percent from $0.36 a year earlier.

“Saia continues to deliver stronger operating performance with growth rates increasing during the second quarter. Jevic’s operating improvement initiatives are ongoing, but weaker tonnage has hindered achieving targeted financial performance,” said Bert Trucksess, chairman, president and chief executive officer.

In the first six months of 2005, revenues were $525.2 million, up 11 percent from $473.5 million a year earlier. Consolidated operating income was $21.5 million, up 18 percent from $18.2 million in the first half of 2004, which included $2.1 million in integration charges. Net income was $9.8 million, up 21 percent from $8.1 million in the first half of 2004. Earnings per share were $0.64 for the six months, up 21 percent from $0.53 a year earlier.

Update on Operating Companies

Saia second-quarter revenue grew 13 percent to $185.8 million and included benefits from the momentum of a 2004 expansion into the Midwest and competitor withdrawals in selected markets. Favorable revenue trends and effective cost management generated second-quarter operating income at Saia of $12.5 million, up 37 percent from a year earlier. As reported on July 7, the current quarter’s results include $2.5 million in higher than anticipated expenses from severe accidents and an adverse verdict relating to a 2001 employment matter, while the prior-

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year quarter included $1.1 million in integration charges for the Midwest expansion as well as accident expenses $1.4 million higher than historical levels. Less-than-truckload (LTL) tonnage for the quarter grew 4 percent and strengthened through the quarter. Benefiting from a favorable pricing environment, LTL revenue per hundredweight increased 9 percent and 5 percent excluding the impact of fuel surcharges. Saia’s operating ratio in the quarter was 93.3 percent, compared to 93.8 percent a year earlier, excluding the integration charges in 2004.

Jevic revenue was $86.1 million in the second quarter, up 3 percent from a year earlier. Total tonnage was down 4 percent from the prior-year quarter, as growth initiatives have not offset volume losses experienced in the first quarter and into the middle of the second quarter, which we believe result from lag effects of 2004 service issues and competitive factors. Total revenue per hundredweight was up 6 percent, just over 1 percent excluding the impact of fuel surcharges. Jevic operating income was $0.5 million, compared to $3.6 million in the second quarter of 2004, producing an operating ratio for the quarter of 99.4 percent. Service improvements implemented early in 2005 are delivering consistently high levels of on-time performance. While Jevic efficiency initiatives are producing incremental improvements in fixed and variable costs, second-quarter results were adversely impacted by diseconomies from weak tonnage.

Outlook and Financial Position

As updated in our July 7, 2005 release, SCS Transportation expects 2005 earnings per share in a range of $1.35 to $1.50.

The Company expects net capital expenditures of approximately $70 to $80 million in 2005, including $10 to $20 million for certain strategic real estate transactions. Year-to-date net capital expenditures were $24.7 million. During the quarter, the Company purchased 517,300 shares, representing 46 percent of the $20 million authorized under the stock repurchase program announced on May 3, 2005.

Conference Call

SCST will hold a conference call to discuss second-quarter results on Tuesday, July 19, 2005, at 9:00 a.m. Eastern Time (8:00 a.m. Central Time). To participate in the call, please dial 1-800-275-8866 or dial 1-706-634-4936 for international calls. Callers should dial in five to 10 minutes in advance of the conference call. This call will be webcast live via the Company web site at

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www.scstransportation.com and will be archived on the site. A replay of the call will be available two hours after the completion of the call through August 2, 2005. The replay is available by dialing 1-800-642-1687 and using conference code 7677597.

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).

SCS Transportation, Inc. provides trucking transportation and supply chain solutions to a broad base of customers across the United States. With annual revenue exceeding $1 billion, the Company focuses on regional and interregional less-than-truckload (LTL), and selected truckload (TL) and time-definite services. Operating subsidiaries are Saia, a multi-region LTL carrier based in Duluth, Ga., and Jevic, a hybrid LTL and truckload carrier based in Delanco, N.J. Headquartered in Kansas City, Mo., SCST has approximately 9,000 employees nationwide.

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” and similar words or expressions are intended to identify forward-looking statements. We use such forward-looking statements regarding our future financial condition and results of operations and our business operations in this release. Investors should not place undue reliance on such forward-looking statements, and the Company undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements reflect the present expectation of future events of our management 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 the forward-looking statements. These factors and risks include, but are not limited to, general economic conditions; labor relations; cost and availability of qualified drivers, fuel, purchased transportation and operating assets; governmental regulations, including but not limited to Hours of Service, engine emissions, compliance with recent legislation requiring companies to

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evaluate their internal control over financial reporting and Homeland Security; dependence on key employees; inclement weather; integration risks; effectiveness of company-specific performance improvement initiatives; competitive initiatives and pricing pressures; terrorism risks; self-insurance claims, equity-based compensation and other expense volatility; the Company’s determination from time to time whether to purchase any shares under the repurchase program; and other financial, operational and legal risks and uncertainties detailed from time to time in the Company’s SEC filings.

Contact:
	SCS Transportation, Inc.
	Investor Contact:
	Greg Drown, 816-714-5906
	gdrown@scstransportation.com
	or
	Media Contact:
	Johnson Strategic Communications, Inc.
	Dick Johnson, 913-649-8885
	dick@johnsonstrategic.com

Editor’s note: Photography, video B-roll and logos for SCS Transportation are available upon request.

SCS Transportation, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Amounts in thousands)
(Unaudited)

	June 30,			December 31,
	2005			2004
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	8,353		$	7,499
Accounts receivable		122,266			110,044
Prepaid expenses and other		30,195			35,721
Total current assets		160,814			153,264
PROPERTY AND EQUIPMENT:
Cost		587,634			569,526
Less: Accumulated depreciation		261,846			248,914
Net property and equipment		325,788			320,612
GOODWILL AND OTHER ASSETS		34,689			34,862
Total assets	$	521,291		$	508,738
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable and checks outstanding	$	42,462		$	33,193
Wages and employees’ benefits		37,369			35,761
Other current liabilities		29,071			28,981
Current portion of long-term debt		2,500			1,263
Total current liabilities		111,402			99,198
OTHER LIABILITIES:
Long-term debt		116,378			121,547
Deferred income taxes		57,478			57,662
Claims, insurance and other		21,941			17,789
Total other liabilities		195,797			196,998
SHAREHOLDERS’ EQUITY:
Common stock		15			15
Additional paid-in capital		206,971			205,800
Treasury stock		(9,177	)		—
Deferred compensation trust		(1,322	)		(1,116	)
Retained earnings		17,605			7,843
Total shareholders’ equity		214,092			212,542
Total liabilities and shareholders’ equity	$	521,291		$	508,738

SCS Transportation, Inc. and Subsidiaries
Consolidated Income Statements
For the Quarter and Six Months Ended June 30, 2005 and 2004
(Amounts in thousands, except per share data)
(Unaudited)

	Second Quarter						Six Months
	2005			2004			2005			2004
OPERATING REVENUE	$	271,886		$	248,232		$	525,173		$	473,508
OPERATING EXPENSES:
Salaries, wages and employees’ benefits		146,831			137,283			287,517			265,226
Purchased transportation		23,802			23,424			44,818			43,576
Operating expenses and supplies		56,548			45,498			108,683			87,635
Operating taxes and licenses		10,608			9,353			21,035			18,493
Claims and insurance		10,232			8,516			18,681			14,997
Depreciation and amortization		12,207			12,154			23,876			23,776
Operating (gains) and losses		(583	)		(437	)		(917	)		(428	)
Integration charges		—			1,050			—			2,054
Total operating expenses		259,645			236,841			503,693			455,329
OPERATING INCOME		12,241			11,391			21,480			18,179
NONOPERATING EXPENSES:
Interest expense		2,429			2,386			4,850			4,807
Other, net		(95	)		(51	)		17			(126	)
Nonoperating expenses, net		2,334			2,335			4,867			4,681
INCOME BEFORE INCOME TAXES		9,907			9,056			16,613			13,498
Income tax provision		4,117			3,583			6,851			5,418
NET INCOME	$	5,790		$	5,473		$	9,762		$	8,080
Average common shares outstanding — basic		14,892			14,837			14,975			14,789
Average common shares outstanding — diluted		15,217			15,312			15,318			15,274
Basic earnings per share	$	0.39		$	0.37		$	0.65		$	0.55
Diluted earnings per share	$	0.38		$	0.36		$	0.64		$	0.53

SCS Transportation, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
For the Six Months Ended June 30, 2005 and 2004
(Amounts in thousands)
(Unaudited)

	2005			2004
OPERATING ACTIVITIES:
Net cash from operating activities	$	38,174		$	29,027
INVESTING ACTIVITIES:
Acquisition of property and equipment		(27,262	)		(18,725	)
Proceeds from disposal of property and equipment		2,607			2,646
Acquisition of subsidiary, net of cash received		—			(23,549	)
Net cash used in investing activities		(24,655	)		(39,628	)
FINANCING ACTIVITIES:
Repayment of long-term debt		(8,002	)		—
Borrowing of long-term debt		4,000			—
Repurchase of common stock		(9,177	)		—
Proceeds from stock option exercises		514			755
Net cash from (used in) financing activities		(12,665	)		755
NET INCREASE (DECREASE) IN CASH & CASH EQUIVALENTS		854			(9,846	)
CASH & CASH EQUIVALENTS, BEGINNING OF PERIOD		7,499			30,870
CASH & CASH EQUIVALENTS, END OF PERIOD	$	8,353		$	21,024

Saia Motor Freight Line, Inc.
Financial Information
For the Quarter and Six Months Ended June 30, 2005 and 2004
(Amounts in thousands)

	Second Quarter				%		Six Months				%
	2005		2004		Change		2005		2004		Change
Operating revenue (excluding fuel surcharge)		169,473		156,014		8.6		323,414		292,721		10.5
Operating revenue		185,824		164,604		12.9		352,789		307,420		14.8
Operating income		12,507		9,114				21,470		15,207
Integration charges*		—		1,050				—		2,054
Operating income excluding integration charges*		12,507		10,164				21,470		17,261
Operating ratio		93.3		94.5				93.9		95.1
Operating ratio excluding integration charges*		93.3		93.8				93.9		94.4

									Second Quarter
		Second Quarter				%			Amount/Workday				%
		2005		2004		Change			2005		2004		Change
Workdays										64		64
F/S Revenue	LTL		172,432		152,167		13.3			2,694.3		2,377.6		13.3
	TL		13,392		12,437		7.7			209.3		194.3		7.7
	Total		185,824		164,604		12.9			2,903.6		2,571.9		12.9
Revenue excluding	LTL		172,720		152,440		13.3			2,698.8		2,381.9		13.3
revenue recognition	TL		13,414		12,459		7.7			209.6		194.7		7.7
adjustment	Total		186,134		164,899		12.9			2,908.4		2,576.6		12.9
Tonnage	LTL		787		759		3.6			12.29		11.86		3.6
	TL		162		165		(1.6	)		2.54		2.57		(1.6	)
	Total		949		924		2.7			14.83		14.43		2.7
Shipments	LTL		1,416		1,380		2.6			22.12		21.56		2.6
	TL		22		22		(0.5	)		0.34		0.34		(0.5	)
	Total		1,438		1,402		2.5			22.46		21.90		2.5
Revenue/cwt.	LTL		10.98		10.04		9.3
	TL		4.13		3.78		9.5
	Total		9.81		8.93		9.9
Revenue/cwt.	LTL		9.95		9.48		4.9
(excluding fuel surcharge)	TL		4.07		3.75		8.6
	Total		8.95		8.46		5.8
Revenue/shipment	LTL		121.99		110.49		10.4
	TL		612.93		576.43		8.2
	Total		129.47		117.68		10.1
Pounds/shipment	LTL		1,111		1,100		1.0
	TL		14,831		15,236		(1.1	)
	Total		1,320		1,318		0.2

* — Integration charges consist of employee retention and stay bonuses, communications, re-logoing the fleet of Clark Bros., technology integration and other items in connection with the integration of the operations of Clark Bros. Management believes that excluding these charges more accurately reflects the core operating performance of Saia.

Jevic Transportation, Inc.
Financial Information
For the Quarter and Six Months Ended June 30, 2005 and 2004
(Amounts in thousands)

	Second Quarter				%			Six Months				%
	2005		2004		Change			2005		2004		Change
Operating revenue (excluding fuel surcharge)		77,968		79,125		(1.5	)		157,538		157,912		(0.2	)
Operating revenue		86,061		83,628		2.9			172,384		166,088		3.8
Operating income		529		3,587					1,047		5,468
Operating ratio		99.4		95.7					99.4		96.7

									Second Quarter
		Second Quarter				%			Amount/Workday				%
		2005		2004		Change			2005		2004		Change
Workdays										64		63
F/S Revenue	LTL		54,666		53,731		1.7			854.2		852.9		0.2
	TL		27,281		26,792		1.8			426.3		425.3		0.2
	Other		4,114		3,105		32.5			64.3		49.3		30.4
	Total		86,061		83,628		2.9			1,344.8		1,327.5		1.3
Revenue excluding	LTL		54,632		53,641		1.8			853.6		851.4		0.3
revenue recognition	TL		27,263		26,747		1.9			426.0		424.6		0.3
adjustment	Other		4,114		3,105		32.5			64.3		49.3		30.4
	Total		86,009		83,493		3.0			1,343.9		1,325.3		1.4
Tonnage	LTL		254		270		(5.8	)		3.97		4.29		(7.3	)
	TL		303		310	��	(2.3	)		4.74		4.93		(3.8	)
	Total		557		580		(4.0	)		8.71		9.22		(5.5	)
Shipments	LTL		215		222		(3.2	)		3.36		3.52		(4.7	)
	TL		35		37		(5.0	)		0.54		0.58		(6.5	)
	Total		250		259		(3.4	)		3.90		4.10		(5.0	)
Revenue/cwt.	LTL		10.74		9.93		8.2
	TL		4.50		4.31		4.4
	Total		7.35		6.93		6.1
Revenue/cwt.	LTL		9.68		9.37		3.2
(excl. fuel surcharge)	TL		4.05		4.07		(0.4	)
	Total		6.62		6.54		1.3
Revenue/shipment	LTL		254.43		241.83		5.2
	TL		782.83		729.78		7.3
	Total		328.17		311.02		5.5
Pounds/shipment	LTL		2,369		2,435		(2.7	)
	TL		17,406		16,933		2.8
	Total		4,456		4,479		(0.5	)