Saia (SAIA) 8-K Saia Reports Fourth Quarter Earnings per Share of $0.45

Exhibit 99.1

Saia Reports Fourth Quarter Earnings per Share of $0.45

JOHNS CREEK, GA. – February 5, 2016 – Saia, Inc. (NASDAQ: SAIA), a leading transportation provider offering multi-regional less-than-truckload (LTL), non-asset truckload and logistics services, today reported fourth quarter and full year 2015 results.  Diluted earnings per share were $0.45 for the fourth quarter and include a $0.04 per share positive impact from tax credits for the full year 2015, enacted in the fourth quarter.  The Company earned $0.53 per diluted share in the fourth quarter 2014.

Fourth Quarter 2015 Compared to Fourth Quarter 2014 Results

· Revenues were $288 million, a 7% decrease

· Operating income decreased 14% to $17.6 million

· Net income fell 16% to $11.4 million

· Diluted earnings per share were $0.45 compared to $0.53

· Operating ratio of 93.9 compared to 93.4

· LTL shipments were down 6.2% and LTL tonnage declined 8.9%

· LTL revenue per hundredweight increased 2.1% despite the impact of lower year-over-year fuel surcharges

“Consistent with our strategy over the past several years, we continued to focus on yield improvement in the fourth quarter.  With effective mix management, we realized improvements in both our yield and revenue per shipment, despite weak industrial freight volumes.  We are closely managing costs across our organization and working to refine our processes to optimize all of our Company assets,” said Saia President and Chief Executive Officer, Rick O’Dell.

“While it is somewhat satisfying to report our fourth consecutive year of record earnings per share, we enter 2016 with some uncertainty with regarding the health of the industrial economy.  At Saia, we will continue to focus on the elements of the business we can control and stay the course towards delivering a strong value proposition to our customers,” O’Dell added.

2015 Results Compared to 2014 Results

· Revenues were $1.2 billion, a 4% decrease

· Operating income increased 5% to $90.0 million

· Net income of $55.0 million rose 5.8%

· Diluted earnings per share were $2.16 versus the $2.04 earned in 2014.  Both years included a positive $0.04 per share impact from tax credits

· Operating ratio improved 70 basis points to 92.6% from 93.3%

· LTL revenue per hundredweight increased 3.2% on 4.0% fewer LTL shipments

Financial Position and Capital Expenditures

Total debt was $69.0 million at December 31, 2015 and inclusive of the cash on-hand, net debt to total capital was 13.9% at year end.  This compares to total debt of $83.0 million and net debt to total capital of 17.7% at December 31, 2014.

Net capital expenditures in 2015 were $113 million including equipment acquired with capital leases and excluding our acquisition of LinkEx in February.  This compares to $112 million in capital expenditures in 2014.  The Company currently plans net capital expenditures in 2016 of approximately $130 million.

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 888-481-2877 or 719-325-2393 referencing conference ID #561452.  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 April 1, 2016 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.

Saia, Inc. Fourth Quarter 2015 Results

Page 2

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 publicly 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; effectiveness of Company-specific performance improvement initiatives, including management of the cost structure to match shifts in customer volume levels; the creditworthiness of our customers and their ability to pay for services; failure to achieve acquisition synergies; failure to operate and grow acquired businesses in a manner that supports the value allocated to these acquired businesses, including their goodwill; competitive initiatives and pricing pressures, including in connection with fuel surcharge; loss of significant customers; the Company’s need for capital and uncertainty of the 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, Homeland Security, environmental regulations and the Food and Drug Administration; changes in interpretation of accounting principles; dependence on key employees; inclement weather; labor relations, including the adverse impact should a portion of the Company’s workforce become unionized; terrorism risks; self-insurance claims and other expense volatility; increased costs of healthcare and prescription drugs, including as a result of healthcare reform legislation; social media risks; cyber security risk; 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.
	Doug Col
	dcol@saia.com
	678.542.3910

Saia, Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(Amounts in thousands)
(Unaudited)
	December 31, 2015			December 31, 2014
ASSETS
CURRENT ASSETS:
Cash and cash equivalents	$	124		$	4,367
Accounts receivable, net		124,222			128,367
Prepaid expenses and other (1)		34,642			37,442
Total current assets		158,988			170,176
PROPERTY AND EQUIPMENT:
Cost		995,514			891,145
Less: accumulated depreciation		456,335			407,505
Net property and equipment		539,179			483,640
OTHER ASSETS		31,026			13,169
Total assets	$	729,193		$	666,985
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable	$	54,754		$	42,388
Wages and employees' benefits		27,834			28,777
Other current liabilities		46,360			50,176
Current portion of long-term debt		12,432			9,138
Total current liabilities		141,380			130,479
OTHER LIABILITIES:
Long-term debt, less current portion		56,540			73,897
Deferred income taxes (1)		67,417			58,946
Claims, insurance and other		35,967			36,757
Total other liabilities		159,924			169,600
STOCKHOLDERS' EQUITY:
Common stock		25			25
Additional paid-in capital		230,593			223,713
Deferred compensation trust		(3,102	)		(2,189	)
Retained earnings		200,373			145,357
Total stockholders' equity		427,889			366,906
Total liabilities and stockholders' equity	$	729,193		$	666,985
(1) - December 31, 2014 balances have been reclassified to conform with the December 31, 2015 adoption of the Financial Accounting Standards Board Accounting Standards Update 2015-17 regarding Balance Sheet Classification of Deferred Taxes.

Saia, Inc. and Subsidiaries
Consolidated Statements of Operations
For the Quarters and Years Ended December 31, 2015 and 2014
(Amounts in thousands, except per share data)
(Unaudited)
	Fourth Quarters						Years
	2015			2014			2015			2014
OPERATING REVENUE	$	287,610		$	309,648		$	1,221,311		$	1,272,321
OPERATING EXPENSES:
Salaries, wages and employees' benefits		164,356			162,854			670,173			639,633
Purchased transportation		13,399			22,214			70,611			99,610
Fuel, operating expenses and supplies		59,955			73,347			261,387			314,788
Operating taxes and licenses		9,238			9,027			37,003			36,028
Claims and insurance		6,488			6,912			26,832			37,563
Depreciation and amortization		16,495			14,758			65,020			59,022
Operating loss (gain), net		63			(36	)		310			(16	)
Total operating expenses		269,994			289,076			1,131,336			1,186,628
OPERATING INCOME		17,616			20,572			89,975			85,693
NONOPERATING EXPENSES:
Interest expense		981			1,007			4,107			4,564
Other, net		(76	)		(50	)		(95	)		(99	)
Nonoperating expenses, net		905			957			4,012			4,465
INCOME BEFORE INCOME TAXES		16,711			19,615			85,963			81,228
Income tax expense		5,324			6,046			30,947			29,237
NET INCOME	$	11,387		$	13,569		$	55,016		$	51,991
Average common shares outstanding - basic		24,972			24,624			24,919			24,505
Average common shares outstanding - diluted		25,483			25,565			25,471			25,463
Basic earnings per share	$	0.46		$	0.55		$	2.21		$	2.12
Diluted earnings per share	$	0.45		$	0.53		$	2.16		$	2.04

Saia, Inc. and Subsidiaries
Condensed Consolidated Statements of Cash Flows
For the Years Ended December 31, 2015 and 2014
(Amounts in thousands)
(Unaudited)
	Years
	2015			2014
OPERATING ACTIVITIES:
Net cash provided by operating activities	$	142,714		$	102,170
Net cash provided by operating activities		142,714			102,170
INVESTING ACTIVITIES:
Acquisition of business		(22,238	)		–
Acquisition of property and equipment		(86,499	)		(97,750	)
Proceeds from disposal of property and equipment		818			2,905
Net cash used in investing activities		(107,919	)		(94,845	)
FINANCING ACTIVITIES:
Repayment of long-term debt		(7,143	)		(7,143	)
Repayment of revolving credit agreement, net		(30,466	)		(3,317	)
Proceeds from stock option exercises		2,533			7,623
Other financing activities		(3,962	)		(280	)
Net cash used in financing activities		(39,038	)		(3,117	)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(4,243	)		4,208
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		4,367			159
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	124		$	4,367
NON-CASH ITEMS:
Acquisition of property and equipment financed with capital leases	$	27,054		$	16,886

Saia, Inc. and Subsidiaries
Financial  Information
For the Quarters Ended December 31, 2015 and 2014
(Unaudited)
												Fourth Quarters
			Fourth Quarters						%			Amount/Workday				%
			2015			2014			Change			2015		2014		Change
Workdays													62		62
Operating ratio				93.9	%		93.4	%
Tonnage (1)		LTL		844			926			(8.9	)		13.61		14.94		(8.9	)
		TL		165			195			(15.1	)		2.67		3.14		(15.1	)
Shipments (1)		LTL		1,499			1,597			(6.2	)		24.18		25.77		(6.2	)
		TL		24			28			(15.3	)		0.38		0.45		(15.3	)
Revenue/cwt. (2)		LTL	$	15.66		$	15.33			2.1
		TL	$	5.84		$	6.16			(5.3	)
Revenue/shipment (2)		LTL	$	176.23		$	177.72			(0.8	)
		TL	$	815.23		$	858.96			(5.1	)
Pounds/shipment		LTL		1,125			1,159			(2.9	)
		TL		13,969			13,940			0.2
Length of Haul				775			773			0.3
(1)	In thousands
(2)	Revenue does not include the adjustment required for financial statement purposes in accordance with the Company's revenue recognition policy and other revenue.

Saia, Inc. and Subsidiaries
Financial  Information
For the Years Ended December 31, 2015 and 2014
(Unaudited)
												Year Over Year
			Year Over Year						%			Amount/Workday				%
			2015			2014			Change			2015		2014		Change
Workdays													253		253
Operating ratio				92.6	%		93.3	%
Tonnage (1)		LTL		3,628			3,902			(7.0	)		14.34		15.42		(7.0	)
		TL		741			853			(13.2	)		2.93		3.37		(13.2	)
Shipments (1)		LTL		6,381			6,646			(4.0	)		25.22		26.27		(4.0	)
		TL		106			122			(13.3	)		0.42		0.48		(13.3	)
Revenue/cwt. (2)		LTL	$	15.44		$	14.96			3.2
		TL	$	5.88		$	5.87			0.2
Revenue/shipment (2)		LTL	$	175.55		$	175.71			(0.1	)
		TL	$	823.86		$	821.46			0.3
Pounds/shipment		LTL		1,137			1,174			(3.2	)
		TL		14,003			13,993			0.1
Length of Haul				775			763			1.6
(1)	In thousands
(2)	Revenue does not include the adjustment required for financial statement purposes in accordance with the Company's revenue recognition policy and other revenue.