Saia (SAIA) 8-K Saia Reports First Quarter Earnings per Share of $0.34

Exhibit 99.1

Saia Reports First Quarter Earnings per Share of $0.34

Revenues rose 9.5% on 5.7% LTL tonnage growth

JOHNS CREEK, GA. – April 25, 2014 – 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 2014 results on solid tonnage growth despite difficult winter weather. All prior period share and per share data in this release have been adjusted to reflect the Company’s June 2013 three-for-two stock split.

First Quarter 2014 Compared to First Quarter 2013 Results

• Revenues were $300 million, an increase of 9.5%

• LTL tonnage increased 5.7% as LTL shipments were up 4.4% with a 1.3% increase in weight per shipment

• Operating income increased 4.8% to $15.2 million compared to $14.5 million

• Operating ratio was 94.9 compared to 94.7

• Diluted earnings per share were $0.34 compared to $0.37 last year (last year’s first quarter included the benefit of tax credits of $0.04 enacted in 2013 which were retroactive to 2012)

“Saia’s first quarter results are very gratifying, given the disruptive weather patterns that challenged our entire industry. Our ability to handle nearly 6% more tons in this year’s first quarter while maintaining solid service metrics is a direct result of the talents and commitment of our entire workforce. Saia’s customers continue to appreciate our value-proposition and we were able to improve LTL pricing by 2.3% in the quarter,” said Saia President and Chief Executive Officer, Rick O’Dell.

“In addition to the harsh weather, quarterly results were further unfavorably impacted by higher accident severity and increased usage of costly purchased transportation. With the operational challenges of the first quarter weather behind us, we are encouraged about our prospects for the remainder of 2014. We continue to invest in new equipment and technology, both necessary to drive efficiency and reliability across our service network. I believe that Saia’s consistent message of service, operational excellence and focused pricing position us well for increasing shareholder and customer value,” O’Dell said.

Financial Position and Capital Expenditures

Total debt was $79.7 million at March 31, 2014 resulting in net debt to total capital of 20.0%. This compares to total debt of $58.8 million and net debt to total capital of 18.1% at the end of last year’s first quarter.

Saia, Inc. First Quarter 2014 Results

Page 2

Net capital expenditures in the first quarter were $8.2 million. The Company currently projects net capital expenditures in 2014 of approximately $110 million, an increase of $25 million over our January forecast. This increased level of investment primarily allows for expansion of the linehaul trailer fleet in addition to the already planned replacement of revenue equipment and investments in technology and real estate projects.

Conference Call

Management will hold a conference call to discuss quarterly results today at 11:00 a.m. Eastern Time. To participate in the call, please dial 888-364-3108 or 719-457-2727 referencing conference ID #8928397. 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.saiacorp.com. A replay of the call will be offered two hours after the completion of the call through May 1, 2014 at 2:00 p.m. Eastern Time. The replay will be available by dialing 1-888-203-1112 or 719-457-0820.

Saia, Inc. (NASDAQ: SAIA) offers customers a wide range of less-than-truckload, non-asset truckload, expedited and logistics services. With headquarters in Georgia, Saia LTL Freight operates 147 terminals in 34 states. 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; integration risks; 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 healthcare reform legislation and other financial,

Saia, Inc. First Quarter 2014 Results

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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.
	Doug Col
	dcol@saia.com
	678.542.3910

Saia, Inc. and Subsidiaries

Condensed Consolidated Balance Sheets

(Amounts in thousands)

(Unaudited)

	March 31,			December 31,
	2014			2013
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	842		$	159
Accounts receivable, net		141,917			117,937
Prepaid expenses and other		43,609			52,157
Total current assets		186,368			170,253
PROPERTY AND EQUIPMENT:
Cost		820,386			797,527
Less: accumulated depreciation		377,108			365,301
Net property and equipment		443,278			432,226
OTHER ASSETS		14,199			14,322
Total assets	$	643,845		$	616,801
LIABILITIES AND STOCKHOLDERS’ EQUITY
CURRENT LIABILITIES:
Accounts payable	$	66,098		$	50,799
Wages and employees’ benefits		29,816			35,248
Other current liabilities		52,812			47,667
Current portion of long-term debt		7,143			7,143
Total current liabilities		155,869			140,857
OTHER LIABILITIES:
Long-term debt, less current portion		72,576			69,740
Deferred income taxes		68,612			69,916
Claims, insurance and other		32,054			31,496
Total other liabilities		173,242			171,152
STOCKHOLDERS’ EQUITY:
Common stock		25			24
Additional paid-in capital		215,002			213,648
Deferred compensation trust		(2,235	)		(2,246	)
Retained earnings		101,942			93,366
Total stockholders’ equity		314,734			304,792
Total liabilities and stockholders’ equity	$	643,845		$	616,801

Saia, Inc. and Subsidiaries

Consolidated Statements of Operations

For the Quarters Ended March 31, 2014 and 2013

(Amounts in thousands, except per share data)

(Unaudited)

	First Quarter
	2014			2013
OPERATING REVENUE	$	299,730		$	273,795
OPERATING EXPENSES:
Salaries, wages and employees’ benefits		150,222			136,854
Purchased transportation		21,991			16,771
Fuel, operating expenses and supplies		79,959			79,002
Operating taxes and licenses		8,975			9,579
Claims and insurance		9,518			5,595
Depreciation and amortization		13,841			11,634
Operating gains, net		(7	)		(172	)
Total operating expenses		284,499			259,263
OPERATING INCOME		15,231			14,532
NONOPERATING EXPENSES:
Interest expense		1,316			1,528
Other, net		(30	)		(66	)
Nonoperating expenses, net		1,286			1,462
INCOME BEFORE INCOME TAXES		13,945			13,070
Income tax expense		5,369			3,915
NET INCOME	$	8,576		$	9,155
Average common shares outstanding - basic		24,382			23,985
Average common shares outstanding - diluted		25,361			24,948
Basic earnings per share	$	0.35		$	0.38
Diluted earnings per share	$	0.34		$	0.37

Saia, Inc. and Subsidiaries

Condensed Consolidated Statements of Cash Flows

For the Quarters Ended March 31, 2014 and 2013

(Amounts in thousands)

(Unaudited)

	Quarters
	2014			2013
OPERATING ACTIVITIES:
Net cash provided by operating activities	$	4,119		$	7,018
Net cash provided by operating activities		4,119			7,018
INVESTING ACTIVITIES:
Acquisition of property and equipment		(8,379	)		(6,725	)
Proceeds from disposal of property and equipment		156			710
Net cash used in investing activities		(8,223	)		(6,015	)
FINANCING ACTIVITIES:
Borrowings (payment) of revolving credit agreement, net		2,831			(1,945	)
Proceeds from stock option exercises		1,956			1,058
Net cash provided by (used in) financing activities		4,787			(887	)
NET INCREASE IN CASH AND CASH EQUIVALENTS		683			116
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		159			321
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	842		$	437

Saia, Inc. and Subsidiaries

Financial Information

For the Quarters Ended March 31, 2014 and 2013

(Unaudited)

											First Quarter
		First Quarter						%			Amount/Workday				%
		2014			2013			Change			2014		2013		Change
Workdays												63		63
Operating Ratio (1)			94.9	%		94.7	%
Tonnage (2)	LTL		947			896			5.7			15.04		14.22		5.7
	TL		216			165			30.8			3.42		2.62		30.8
Shipments (2)	LTL		1,586			1,520			4.4			25.18		24.12		4.4
	TL		31			24			28.5			0.49		0.38		28.5
Revenue/cwt. (3)	LTL	$	14.51		$	14.18			2.3
	TL	$	5.71		$	5.90			(3.3	)
Revenue/shipment (3)	LTL	$	173.28		$	167.25			3.6
	TL	$	801.82		$	814.57			(1.6	)
Pounds/shipment	LTL		1,195			1,179			1.3
	TL		14,051			13,804			1.8
Length of Haul			753			734			2.6

(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.