Saia (SAIA) 8-K Saia, Inc. Reports First Quarter 2013 Earnings

Exhibit 99.1

***For Immediate Release***

Saia, Inc. Reports First Quarter 2013 Earnings

Operating income increased 32 percent to $14.5 million

JOHNS CREEK, GA – April 26, 2013 – Saia, Inc. (NASDAQ: SAIA), a leading transportation provider offering multi-regional less-than-truckload (LTL), non-asset truckload and logistics services, today reported improved first quarter 2013 results driven by effective yield management and operational efficiencies.

First Quarter 2013 Compared to First Quarter 2012 Results

• Revenues were $274 million, an increase of 1.9 percent

• Revenue per workday increased by 3.5 percent with one less workday in the first quarter of 2013

• Operating income increased by 32 percent to $14.5 million from $11.0 million

• Earnings per share were $0.55, including $0.06 in tax credits enacted in 2013 retroactive to 2012, compared to $0.34

• Operating ratio was 94.7 compared to 95.9

• LTL tonnage per workday decreased 2.1 percent

• LTL yield was up 5.4 percent due to yield management and higher fuel surcharges

“Saia’s superior service quality, operational excellence and revenue management initiatives facilitated another quarter of improved margins. We achieved a 120 basis point improvement in our operating ratio by marketing to customers who value quality service and by achieving targeted operational efficiencies. I am pleased that the company’s execution in key areas continues to progress margins and earnings per share,” said Rick O’Dell, Saia President and Chief Executive Officer.

“Saia’s service was consistently 98 percent on-time during the quarter. We remain committed to advancing our value proposition through major investments in equipment and technology that are also driving operational efficiencies. I was particularly pleased that we achieved projected efficiencies in our linehaul network performance in spite of relatively soft tonnage. I believe that Saia’s strong overall service, focused pricing discipline and operational strength provide a solid foundation for long-term profitable growth and increased shareholder and customer value,” O’Dell said.

Financial Position and Capital Expenditures

Total debt was $58.8 million at March 31, 2013 resulting in net debt to total capital of 18.1 percent. This compares to total debt of $86.5 million and net debt to total capital of 27.7 percent at March 31, 2012.

Saia, Inc. First-Quarter 2013 Earnings

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Net capital expenditures for the first three months of 2013 were $6 million. This compares to $39 million of net capital expenditures in the same period in 2012. The Company is planning net capital expenditures in 2013 of approximately $90 million. This expenditure level reflects replacement tractors and trailers to reduce the average age of our fleet and the Company’s continued investment in technology.

Conference Call

Management will hold a conference call to discuss first-quarter results today at 11:00 a.m. Eastern Time. To participate in the call, please dial 1-888-389-5988 or 719-457-2664 referencing conference ID #4697039. Callers should dial in five minutes in advance of the conference call. This call will be webcast live via the Company web site at www.saiacorp.com.

A replay of the call will be available starting two hours after the completion of the call through May 2, 2013 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. Institutional investors can access the call via CCBN’s password-protected event management site, StreetEvents (www.streetevents.com).

Saia, Inc. (NASDAQ: SAIA) offers customers a wide range of less-than-truckload, non-asset truckload, expedited and logistics services. Saia LTL Freight operates 147 terminals in 34 states. With headquarters in Georgia, Saia employs 8,000 people. For more information on Saia, Inc. visit the Investor Relations section at www.saiacorp.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; 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

Saia, Inc. First-Quarter 2013 Earnings

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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.

# # #

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

Saia, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(Amounts in thousands)

(Unaudited)

	March 31,			December 31,
	2013			2012
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	437		$	321
Accounts receivable, net		126,597			106,814
Prepaid expenses and other		32,585			37,028
Total current assets		159,619			144,163
PROPERTY AND EQUIPMENT:
Cost		722,265			718,527
Less: accumulated depreciation		361,364			356,823
Net property and equipment		360,901			361,704
OTHER ASSETS		14,534			13,821
Total assets	$	535,054		$	519,688
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	53,476		$	43,706
Wages and employees’ benefits		26,848			30,842
Other current liabilities		44,721			44,609
Current portion of long-term debt		22,143			22,143
Total current liabilities		147,188			141,300
OTHER LIABILITIES:
Long-term debt, less current portion		36,613			38,562
Deferred income taxes		55,611			55,611
Claims, insurance and other		31,639			29,696
Total other liabilities		123,863			123,869
STOCKHOLDERS’ EQUITY:
Common stock		16			16
Additional paid-in capital		207,258			206,977
Deferred compensation trust		(2,165	)		(2,213	)
Retained earnings		58,894			49,739
Total stockholders’ equity		264,003			254,519
Total liabilities and stockholders’ equity	$	535,054		$	519,688

Saia, Inc. and Subsidiaries

Consolidated Statements of Operations

For the Quarters Ended March 31, 2013 and 2012

(Amounts in thousands, except per share data)

(Unaudited)

	First Quarter
	2013			2012
OPERATING REVENUE	$	273,795		$	268,690
OPERATING EXPENSES:
Salaries, wages and employees’ benefits		136,854			131,700
Purchased transportation		16,771			19,309
Fuel, operating expenses and supplies		79,002			79,397
Operating taxes and licenses		9,579			9,866
Claims and insurance		5,595			6,174
Depreciation and amortization		11,634			11,415
Operating gains, net		(172	)		(219	)
Total operating expenses		259,263			257,642
OPERATING INCOME		14,532			11,048
NONOPERATING EXPENSES:
Interest expense		1,528			1,964
Other, net		(66	)		(95	)
Nonoperating expenses, net		1,462			1,869
INCOME BEFORE INCOME TAXES		13,070			9,179
Income tax expense		3,915			3,644
NET INCOME	$	9,155		$	5,535
Average common shares outstanding—basic		15,990			15,833
Average common shares outstanding—diluted		16,632			16,358
Basic earnings per share	$	0.57		$	0.35
Diluted earnings per share	$	0.55		$	0.34

Saia, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

For the Quarters Ended March 31, 2013 and 2012

(Amounts in thousands)

(Unaudited)

	Quarters
	2013			2012
OPERATING ACTIVITIES:
Net cash provided by operating activities	$	7,018		$	24,049
Net cash provided by operating activities		7,018			24,049
INVESTING ACTIVITIES:
Acquisition of property and equipment		(6,725	)		(40,595	)
Proceeds from disposal of property and equipment		710			1,358
Net cash used in investing activities		(6,015	)		(39,237	)
FINANCING ACTIVITIES:
Borrowings (payment) of revolving credit agreement, net		(1,945	)		13,595
Proceeds from stock option exercises		1,058			336
Net cash provided by (used in) financing activities		(887	)		13,931
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		116			(1,257	)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		321			1,317
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	437		$	60

Saia, Inc. and Subsidiaries

Financial Information

For the Quarters Ended March 31, 2013 and 2012

(Unaudited)

											First Quarter
		First Quarter						%			Amount/Workday				%
		2013			2012			Change			2013		2012		Change
Workdays												63		64
Operating Ratio (1)			94.7	%		95.9	%
Tonnage (2)	LTL		896			929			(3.6	)		14.22		14.52		(2.1	)
	TL		165			178			(7.5	)		2.62		2.79		(6.0	)
Shipments (2)	LTL		1,520			1,599			(5.0	)		24.12		24.99		(3.5	)
	TL		24			25			(5.9	)		0.38		0.40		(4.4	)
Revenue/cwt. (3)	LTL	$	14.18		$	13.45			5.4
	TL	$	5.90		$	5.60			5.5
Revenue/shipment (3)	LTL	$	167.25		$	156.39			6.9
	TL	$	814.57		$	785.98			3.6
Pounds/shipment	LTL		1,179			1,162			1.4
	TL		13,804			14,047			(1.7	)
Length of Haul			734			728			0.8

(1) The operating ratio is the calculation of operating expenses divided by operating revenue.

(2) In thousands

(3) Revenue does not include the adjustment required for financial statement purposes in accordance with the Company’s revenue recognition policy and other revenue.