FROZEN FOOD EXPRESSINDUSTRIES, INC.

| Texas(State      or other jurisdiction ofincorporation      or organization)                                        |   | 75-1301831(IRS      Employer Identification No.)                                       |
|---------------------------------------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------|
|  1145      Empire Central PlaceDallas,      Texas 75247-4305(Address      of principal executive offices) |   |  (214)      630-8090(Registrant's      telephone number,including      area code) |

| Indicate      by check mark whether the registrant (l) has filed all reports required to      be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934      during the preceding 12 months (or for such shorter period that the      registrant was required to file such reports), and (2) has been subject to      such filing requirements for the past 90 days.   ý      Yes     o  No |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  Large      accelerated filer   o | Accelerated      Filer   ý | Non-accelerated      filer   o | Smaller      Reporting Company   o |
|--------------------------------------------------|-------------------------------------------|------------------------------------------|----------------------------------------------|

|   | Class                              |   | Number      of Shares Outstanding   |   |
|--------|------------------------------------|--------|-------------------------------------|--------|
|   | Common      stock, $1.50 par value |   | 17,208,460      at October 30, 2009 |   |

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|         | PART      I  Financial Information                                                                                      | Page      No. |
|--------------|------------------------------------------------------------------------------------------------------------------------------|---------------|
|         |                                                                                                                         |          |
| Item      1  | Financial      Statements                                                                                                    |          |
|         | Consolidated      Condensed Balance Sheets (unaudited)September      30, 2009 and December 31, 2008                          | 1             |
|         |                                                                                                                         |          |
|         | Consolidated      Condensed Statements of Operations (unaudited)Three      and nine months ended September 30, 2009 and 2008 | 2             |
|         |                                                                                                                         |          |
|         | Consolidated      Condensed Statements of Cash Flows (unaudited)Nine      months ended September 30, 2009 and 2008           | 3             |
|         |                                                                                                                         |          |
|         | Consolidated      Condensed Statements of Shareholders’ Equity (unaudited)                                             | 4             |
|         |                                                                                                                         |          |
|         | Notes      to Consolidated Condensed Financial Statements (unaudited)                                                        | 5             |
|         |                                                                                                                         |          |
| Item      2  | Management's      Discussion and Analysis of Financial Condition and Results of      Operations                              | 8             |
|         |                                                                                                                         |          |
| Item      3  | Quantitative      and Qualitative Disclosures about Market Risk                                                              | 25            |
|         |                                                                                                                         |          |
| Item      4  | Controls      and Procedures                                                                                                 | 25            |
|         |                                                                                                                         |          |
|         | PART IIOther      Information                                                                                                |          |
|         |                                                                                                                         |          |
| Item      1  | Legal      Proceedings                                                                                                       | 26            |
|         |                                                                                                                         |          |
| Item      1A | Risk      Factors                                                                                                            | 26            |
|         |                                                                                                                         |          |
| Item      2  | Unregistered      Sales of Equity Securities and Use of Proceeds                                                             | 26            |
|         |                                                                                                                         |          |
| Item      3  | Defaults      Upon Senior Securities                                                                                         | 26            |
|         |                                                                                                                         |          |
| Item      4  | Submission      of Matters to a Vote of Security Holders                                                                     | 26            |
|         |                                                                                                                         |          |
| Item      5  | Other      Information                                                                                                       | 26            |
|         |                                                                                                                         |          |
| Item      6  | Exhibits                                                                                                                     | 27            |
|         |                                                                                                                         |          |
|         | Signatures                                                                                                                   | 28            |
|         |                                                                                                                         |          |
|         | Exhibit      Index                                                                                                           | 29            |

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PART I. FINANCIAL INFORMATION

| Assets                                                              |   | September      30, 2009 |    |         | December 31,2008 |   |
|---------------------------------------------------------------------|--------|-------------------------|---------|--------------|-----------------------|--------|
| Current      assets                                                 |   |                    |    |         |                  |   |
| Cash      and cash equivalents                                      |   | $                       | 2,670   |         |                  | $      | 1,308 |   |
| Accounts      receivable, net                                       |   |                    | 43,622  |         |                  |   | 52,749 |   |
| Tires      on equipment in use, net                                 |   |                    | 5,632   |         |                  |   | 5,425 |   |
| Deferred      income taxes                                          |   |                    | 1,491   |         |                  |   | 2,666 |   |
| Property      and equipment held for sale                           |   |                    | 1,019   |         |                  |   | - |   |
| Other      current assets                                           |   |                    | 9,075   |         |                  |   | 10,822 |   |
| Total      current assets                                           |   |                    | 63,509  |         |                  |   | 72,970 |   |
|                                                                |   |                    |    |         |                  |   |   |   |
| Property      and equipment, net                                    |   |                    | 74,555  |         |                  |   | 83,394 |   |
| Other      assets                                                   |   |                    | 5,058   |         |                  |   | 5,822 |   |
| Total      assets                                                   |   | $                       | 143,122 |         |                  | $      | 162,186 |   |
|                                                                |   |                    |    |         |                  |   |   |   |
| Liabilities      and Shareholders' Equity                           |   |                    |    |         |                  |   |   |   |
| Current      liabilities                                            |   |                    |    |         |                  |   |   |   |
| Accounts      payable                                               |   | $                       | 20,379  |         |                  | $      | 21,148 |   |
| Insurance      and claims accruals                                  |   |                    | 9,628   |         |                  |   | 7,736 |   |
| Accrued      payroll and deferred compensation                      |   |                    | 5,367   |         |                  |   | 4,396 |   |
| Accrued      liabilities                                            |   |                    | 1,716   |         |                  |   | 1,760 |   |
| Total      current liabilities                                      |   |                    | 37,090  |         |                  |   | 35,040 |   |
|                                                                |   |                    |    |         |                  |   |   |   |
| Deferred      income taxes                                          |   |                    | 6,585   |         |                  |   | 14,235 |   |
| Insurance      and claims accruals                                  |   |                    | 7,176   |         |                  |   | 6,460 |   |
| Total      liabilities                                              |   |                    | 50,851  |         |                  |   | 55,735 |   |
|                                                                |   |                    |    |         |                  |   |   |   |
| Shareholders’      equity                                     |   |                    |    |         |                  |   |   |   |
| Common      stock, $1.50 par value per share; 75,000 shares         |   |                    |    |         |                  |   |   |   |
|      authorized;      18,572 shares issued |   |                    | 27,858  |         |                  |   | 27,858 |   |
| Additional      paid-in capital                                     |   |                    | 2,625   |    |                  |   | 5,412 |   |
| Retained      earnings                                              |   |                    | 72,739  |         |                  |   | 87,103 |   |
|                                                                |   |                    | 103,222 |         |                  |   | 120,373 |   |
| Treasury      stock (1,441 and 1,813 shares), at cost          |   |                    | (10,951 | )            |                  |   | (13,922 | ) |
| Total      shareholders’ equity                               |   |                    | 92,271  |         |                  |   | 106,451 |   |
| Total      liabilities and shareholders’ equity               |   | $                       | 143,122 |         |                  | $      | 162,186 |   |

----

|                                                 |   | Three      MonthsEnded      September 30, |   |   | Nine      MonthsEnded      September 30, |   |
|------------------------------------------------------|--------|-------------------------------------------|--------|--------|------------------------------------------|--------|
|                                                 |   | 2009                                      |   |   | 2008                                     |   |   | 2009 |   |   | 2008 |   |
| Revenue                                              |   | $                                         | 94,500 |   |                                     | $      | 132,451 |   |   | $ | 281,602 |   |   | $ | 378,206 |   |
| Operating      expenses                              |   |                                      |   |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| Salaries,      wages and related expenses            |   |                                      | 30,306 |   |                                     |   | 33,693 |   |   |   | 94,115 |   |   |   | 96,524 |   |
| Purchased      transportation                        |   |                                      | 20,246 |   |                                     |   | 29,517 |   |   |   | 61,752 |   |   |   | 93,141 |   |
| Fuel                                                 |   |                                      | 17,132 |   |                                     |   | 32,130 |   |   |   | 46,251 |   |   |   | 88,694 |   |
| Supplies      and  maintenance             |   |                                      | 11,486 |   |                                     |   | 14,047 |   |   |   | 35,874 |   |   |   | 39,864 |   |
| Revenue      equipment rent                          |   |                                      | 9,431  |   |                                     |   | 9,005 |   |   |   | 29,386 |   |   |   | 25,734 |   |
| Depreciation                                         |   |                                      | 4,303  |   |                                     |   | 4,684 |   |   |   | 13,296 |   |   |   | 14,183 |   |
| Claims      and insurance                            |   |                                      | 3,215  |   |                                     |   | 2,733 |   |   |   | 10,934 |   |   |   | 9,001 |   |
| Communications      and utilities                    |   |                                      | 1,323  |   |                                     |   | 1,410 |   |   |   | 3,898 |   |   |   | 3,636 |   |
| Operating      taxes and licenses                    |   |                                      | 1,076  |   |                                     |   | 1,163 |   |   |   | 3,656 |   |   |   | 3,431 |   |
| Loss      (gain) on sale of property and equipment   |   |                                      | 177    |   |                                     |   | (491 | ) |   |   | (75 | ) |   |   | (1,096 | ) |
| Miscellaneous                                        |   |                                      | 638    |   |                                     |   | 1,000 |   |   |   | 2,367 |   |   |   | 3,234 |   |
|  Total      operating expenses                  |   |                                      | 99,333 |   |                                     |   | 128,891 |   |   |   | 301,454 |   |   |   | 376,346 |   |
| Income      (loss) from operations                   |   |                                      | (4,833 | )      |                                     |   | 3,560 |   |   |   | (19,852 | ) |   |   | 1,860 |   |
| Interest      and other (income) expense             |   |                                      |   |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| Interest      income                                 |   |                                      | (1     | )      |                                     |   | (12 | ) |   |   | (5 | ) |   |   | (66 | ) |
| Interest      expense                                |   |                                      | 5      |   |                                     |   | 74 |   |   |   | 9 |   |   |   | 110 |   |
| Equity      in earnings of limited partnership       |   |                                      | (313   | )      |                                     |   | (200 | ) |   |   | (472 | ) |   |   | (511 | ) |
| Other                                                |   |                                      | 106    |   |                                     |   | 200 |   |   |   | 591 |   |   |   | (108 | ) |
|  Total      interest and other (income) expense |   |                                      | (203   | )      |                                     |   | 62 |   |   |   | 123 |   |   |   | (575 | ) |
| Pre-tax      income (loss)                           |   |                                      | (4,630 | )      |                                     |   | 3,498 |   |   |   | (19,975 | ) |   |   | 2,435 |   |
| Income      tax (benefit) expense                    |   |                                      | (2,070 | )      |                                     |   | 2,141 |   |   |   | (6,126 | ) |   |   | 1,629 |   |
| Net      income (loss)                               |   | $                                         | (2,560 | )      |                                     | $      | 1,357 |   |   | $ | (13,849 | ) |   | $ | 806 |   |
|                                                 |   |                                      |   |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| Net      income (loss) per share of common stock     |   |                                      |   |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                |   | $                                         | (0.15  | )      |                                     | $      | 0.08 |   |   | $ | (0.81 | ) |   | $ | 0.05 |   |
| Diluted                                              |   | $                                         | (0.15  | )      |                                     | $      | 0.08 |   |   | $ | (0.81 | ) |   | $ | 0.05 |   |
| Weighted      average shares outstanding             |   |                                      |   |   |                                     |   |   |   |   |   |   |   |   |   |   |   |
| Basic                                                |   |                                      | 17,149 |   |                                     |   | 16,737 |   |   |   | 17,069 |   |   |   | 16,699 |   |
| Diluted                                              |   |                                      | 17,149 |   |                                     |   | 17,027 |   |   |   | 17,069 |   |   |   | 16,998 |   |
| Dividends      declared per common share             |   | $                                         | -      |   |                                     | $      | 0.03 |   |   | $ | 0.03 |   |   | $ | 0.09 |   |

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|                                                                   |   | Nine      MonthsEnded      September 30, |    |
|------------------------------------------------------------------------|--------|------------------------------------------|---------|
|                                                                   |   | 2009                                     |    |   | 2008 |   |
| Cash      flows from operating activities                              |   |                                     |    |   |   |   |   |   |
| Net      (loss) income                                                 |   | $                                        | (13,849 | ) |   | $ | 806 |   |
| Non-cash      items included in net (loss) income                      |   |                                     |    |   |   |   |   |   |
| Gain      on sale of property and equipment                            |   |                                     | (75     | ) |   |   | (1,754 | ) |
| Depreciation      and amortization                                     |   |                                     | 16,831  |   |   |   | 17,568 |   |
| Provision      for losses on accounts receivable                       |   |                                     | 216     |   |   |   | 922 |   |
| Deferred      income tax                                               |   |                                     | (6,475  | ) |   |   | 822 |   |
| Deferred      compensation                                             |   |                                     | 172     |   |   |   | 220 |   |
| Investment      loss (income), net                                     |   |                                     | 210     |   |   |   | (380 | ) |
| Changes      in operating assets and liabilities                       |   |                                     |    |   |   |   |   |   |
| Accounts      receivable                                               |   |                                     | 9,195   |   |   |   | (11,852 | ) |
| Tires      on equipment in use                                         |   |                                     | (3,112  | ) |   |   | (3,038 | ) |
| Other      current assets                                              |   |                                     | 1,636   |   |   |   | 4,042 |   |
| Accounts      payable                                                  |   |                                     | (1,617  | ) |   |   | (686 | ) |
| Insurance      and claims accruals                                     |   |                                     | 2,608   |   |   |   | (5,900 | ) |
| Accrued      liabilities, payroll and other                            |   |                                     | 776     |   |   |   | 2,247 |   |
| Net      cash provided by operating activities                         |   |                                     | 6,516   |   |   |   | 3,017 |   |
|                                                                   |   |                                     |    |   |   |   |   |   |
| Cash      flows from investing activities                              |   |                                     |    |   |   |   |   |   |
| Expenditures      for property and equipment                           |   |                                     | (12,395 | ) |   |   | (19,006 | ) |
| Proceeds      from sale of property and equipment                      |   |                                     | 7,952   |   |   |   | 11,459 |   |
| Other                                                                  |   |                                     | (94     | ) |   |   | (252 | ) |
| Net      cash used in investing activities                        |   |                                     | (4,537  | ) |   |   | (7,799 | ) |
|                                                                   |   |                                     |    |   |   |   |   |   |
| Cash      flows from financing activities                              |   |                                     |    |   |   |   |   |   |
| Proceeds      from borrowings                                          |   |                                     | 21,100  |   |   |   | 68,000 |   |
| Payments      against borrowings                                       |   |                                     | (21,100 | ) |   |   | (62,200 | ) |
| Dividends      paid                                                    |   |                                     | (515    | ) |   |   | (1,512 | ) |
| Income      tax expense (benefit) of stock options and restrictedstock |   |                                     | (41     | ) |   |   | 56 |   |
| Proceeds      from capital stock transactions, net                     |   |                                     | 96      |   |   |   | 424 |   |
| Purchases      of treasury stock                                       |   |                                     | (157    | ) |   |   | (216 | ) |
| Net      cash (used in) provided by financing activities               |   |                                     | (617    | ) |   |   | 4,552 |   |
|                                                                   |   |                                     |    |   |   |   |   |   |
| Net      increase (decrease) in cash and cash equivalents              |   |                                     | 1,362   |   |   |   | (230 | ) |
| Cash      and cash equivalents at beginning of period                  |   |                                     | 1,308   |   |   |   | 2,473 |   |
| Cash      and cash equivalents at September 30                         |   | $                                        | 2,670   |   |   | $ | 2,243 |   |

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|                                                      |   | Common      Stock |   |   | Additional |   |   |    |   |   |     |   |   |                |    |
|-----------------------------------------------------------|--------|-------------------|--------|--------|------------|--------|--------|---------|--------|--------|----------|--------|--------|---------------------|---------|
|                                                      |   | Shares            |   |   | Par        |   |   | Paid-in |   |   | Retained |   |   | Treasury      Stock |    |   |   |   |
|                                                      |   | Issued            |   |   | Value      |   |   | Capital |   |   | Earnings |   |   | Shares              |    |   | Cost |   |   | Total |   |
| January      1, 2008                                      |   |              | 18,572 |   |       | $      | 27,858 |    |   | $      | 5,682    |   |   | $                   | 88,515  |   |   |   | 1,921 |   |   | $ | (14,796 | ) |   | $ | 107,259 |   |
|     Net      income                   |   |              | -      |   |       |   | -      |    |   |   | -        |   |   |                | 605     |   |   |   | - |   |   |   | - |   |   |   | 605 |   |
|     Treasury      stock reacquired    |   |              | -      |   |       |   | -      |    |   |   | -        |   |   |                | -       |   |   |   | 34 |   |   |   | (222 | ) |   |   | (222 | ) |
|     Retirement      plans             |   |              | -      |   |       |   | -      |    |   |   | 3        |   |   |                | -       |   |   |   | (4 | )  |   |   | 34 |   |   |   | 37 |   |
|     Exercise      of stock options    |   |              | -      |   |       |   | -      |    |   |   | (443     | )      |   |                | -       |   |   |   | (116 | )  |   |   | 894 |   |   |   | 451 |   |
|     Restricted      stock             |   |              | -      |   |       |   | -      |    |   |   | 277      |   |   |                | -       |   |   |   | (22 | )  |   |   | 168 |   |   |   | 445 |   |
|     Dividends                         |   |              | -      |   |       |   | -      |    |   |   | -        |   |   |                | (2,017  | ) |   |   | - |   |   |   | - |   |   |   | (2,017 | ) |
|     Tax      benefit of stock options |   |              | -      |   |       |   | -      |    |   |   | (107     | )      |   |                | -       |   |   |   | - |   |   |   | - |   |   |   | (107 | ) |
| December      31, 2008                                    |   |              | 18,572 |   |       |   | 27,858 |    |   |   | 5,412    |   |   |                | 87,103  |   |   |   | 1,813 |   |   |   | (13,922 | ) |   |   | 106,451 |   |
|     Net      loss                     |   |              | -      |   |       |   | -      |    |   |   | -        |   |   |                | (13,849 | ) |   |   | - |   |   |   | - |   |   |   | (13,849 | ) |
|     Treasury      stock reacquired    |   |              | -      |   |       |   | -      |    |   |   | -        |   |   |                | -       |   |   |   | 38 |   |   |   | (157 | ) |   |   | (157 | ) |
|     Retirement      plans             |   |              | -      |   |       |   | -      |    |   |   | (48      | )      |   |                | -       |   |   |   | (4 | ) |   |   | 33 |   |   |   | (15 | ) |
|     Exercise      of stock options    |   |              | -      |   |       |   | -      |    |   |   | (171     | )      |   |                | -       |   |   |   | (35 | ) |   |   | 267 |   |   |   | 96 |   |
|     Restricted      stock             |   |              | -      |   |       |   | -      |    |   |   | (2,527   | )      |   |                | -       |   |   |   | (371 | ) |   |   | 2,828 |   |   |   | 301 |   |
|     Dividends                         |   |              | -      |   |       |   | -      |    |   |   | -        |   |   |                | (515    | ) |   |   | - |   |   |   | - |   |   |   | (515 | ) |
|     Tax      benefit of stock options |   |              | -      |   |       |   | -      |    |   |   | (41      | )      |   |                | -       |   |   |   | - |   |   |   | - |   |   |   | (41 | ) |
| September      30, 2009                                   |   |              | 18,572 |   |       | $      | 27,858 |    |   | $      | 2,625    |   |   | $                   | 72,739  |   |   |   | 1,441 |   |   | $ | (10,951 | ) |   | $ | 92,271 |   |

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As of September 30, 2009, the Company had asecured committed credit facility (the “Credit Facility”) that expires inSeptember 2011 for which no amounts were outstanding.  The Company mayborrow an amount not to exceed the lesser of (i) $35.0 million, adjusted forletters of credit and other debt (as defined in the agreement), (ii) a borrowingbase or (iii) a multiple of a measurement of cash flow.   As ofSeptember 30, 2009, the Company had $5.4 million of outstanding standby lettersof credit primarily for self insurance programs that reduced the availability to$29.6 million, subject to borrowing base limitations, which is defined as 85% ofeligible accounts receivable.  The available borrowing base atSeptember 30, 2009 is $26.2 million, which is net of outstanding standby lettersof credit.

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The difference between our effectivetax rate and the federal statutory rate of 35.0% is primarily attributable tostate income taxes and non-deductible driver related expenses.

5.  Income or loss per commonshare

|                                                    |   | (in      thousands, except per share amounts) |   |
|---------------------------------------------------------|--------|-----------------------------------------------|--------|
|                                                    |   | Three      Months EndedSeptember      30,     |   |   | Nine      Months EndedSeptember      30, |   |
|                                                    |   | 2009                                          |   |   | 2008 |   |   | 2009 |   |   | 2008 |   |
| Numerator:                                              |   |                                          |   |   |   |   |   |   |   |   |   |   |   |   |
|    Net      (loss) income                |   | $                                             | (2,560 | ) |   | $ | 1,357 |   |   | $ | (13,849 | ) |   | $ | 806 |   |
|                                                    |   |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Denominator:                                            |   |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Basic-weighted      average shares    |   |                                          | 17,149 |   |   |   | 16,737 |   |   |   | 17,069 |   |   |   | 16,699 |   |
|    Effect      of dilutive stock options |   |                                          | -      |   |   |   | 290 |   |   |   | - |   |   |   | 299 |   |
|    Diluted-weighted      average shares  |   |                                          | 17,149 |   |   |   | 17,027 |   |   |   | 17,069 |   |   |   | 16,998 |   |
|                                                    |   |                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic      income (loss) per common share               |   | $                                             | (0.15  | ) |   | $ | 0.08 |   |   | $ | (0.81 | ) |   | $ | 0.05 |   |
| Diluted      income (loss) per common share             |   | $                                             | (0.15  | ) |   | $ | 0.08 |   |   | $ | (0.81 | ) |   | $ | 0.05 |   |

----

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| Periods      Ending                      |   | EBITDAR      to Fixed Charges |   | Funded      Debt to EBITDAR |   | (in      thousands)Minimum      Tangible Net Worth |         |
|------------------------------------------|--------|-------------------------------|--------|-----------------------------|--------|----------------------------------------------------|--------------|
| October      2009 – November 2009  |   | 1.05:1.0                 |   | 2.75:1.0               |   |  $                                            | 85,000  |   |
| December      2009 – February 2010 |   | 1.05:1.0                      |   | 2.75:1.0                    |   |                                               | 80,000       |   |
| March      2010 – May 2010         |   | 1.10:1.0                      |   | 2.75:1.0                    |   |                                               | 80,000       |   |
| June      2010 – August 2010       |   | 1.20:1.0                      |   | 2.75:1.0                    |   |                                               | 75,000       |   |
| Subsequent      to August 2010           |   | 1.25:1.0                      |   | 2.50:1.0                    |   |                                               | 75,000       |   |

Item 2.    Management's Discussion andAnalysis of Financial Condition and Results ofOperations

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               Our operating expenses as a percentage of operating revenue, or “operatingratio,” were 105.1% for the third quarter of 2009 compared with 97.3% in2008.  Our operating expenses decreased at a lower rate than our revenuedue to higher claims and insurance costs and increased equipment rent as ourshare of leased equipment increased, partially offset by decreasing purchasedtransportation costs.  For the quarter our loss per basic and dilutedshare was $0.15 in 2009 compared to net income per basic and diluted share of$0.08 in 2008.

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|                                                  |   | Three      Months |   |   | Nine      Months |   |
|-------------------------------------------------------|--------|-------------------|--------|--------|------------------|--------|
| Revenue      from: (a)                                |   | 2009              |   |   | 2008             |   |   | 2009 |   |   | 2008 |   |
| Temperature-controlled      fleet                     |   | $                 | 34,684 |   |             | $      | 37,626 |   |   | $ | 103,630 |   |   | $ | 108,854 |   |
| Dry-freight      fleet                                |   |              | 12,269 |   |             |   | 16,921 |   |   |   | 40,805 |   |   |   | 53,107 |   |
| Total      truckload linehaul services                |   |              | 46,953 |   |             |   | 54,547 |   |   |   | 144,435 |   |   |   | 161,961 |   |
| Dedicated      fleets                                 |   |              | 4,749  |   |             |   | 6,859 |   |   |   | 14,970 |   |   |   | 18,528 |   |
| Total      truckload                                  |   |              | 51,702 |   |             |   | 61,406 |   |   |   | 159,405 |   |   |   | 180,489 |   |
| Less-than-truckload      linehaul services            |   |              | 27,429 |   |             |   | 32,922 |   |   |   | 81,105 |   |   |   | 92,947 |   |
| Fuel      surcharges                                  |   |              | 12,492 |   |             |   | 33,864 |   |   |   | 32,065 |   |   |   | 90,124 |   |
| Brokerage                                             |   |              | 1,657  |   |             |   | 3,128 |   |   |   | 5,415 |   |   |   | 10,629 |   |
| Equipment      rental                       |   |              | 1,220  |   |             |   | 1,131 |   |   |   | 3,612 |   |   |   | 4,017 |   |
| Total      revenue                                    |   |              | 94,500 |   |             |   | 132,451 |   |   |   | 281,602 |   |   |   | 378,206 |   |
|                                                  |   |              |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Operating      expenses                               |   |              | 99,333 |   |             |   | 128,891 |   |   |   | 301,454 |   |   |   | 376,346 |   |
| Income      (loss) from operations                    |   | $                 | (4,833 | )      |             | $      | 3,560 |   |   | $ | (19,852 | ) |   | $ | 1,860 |   |
| Operating      ratio (b)                              |   |              | 105.1  | %      |             |   | 97.3 | % |   |   | 107.0 | % |   |   | 99.5 | % |
|                                                  |   |              |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Total      truckload revenue                          |   | $                 | 51,702 |   |             | $      | 61,406 |   |   | $ | 159,405 |   |   | $ | 180,489 |   |
| Less-than-truckload  revenue                |   |              | 27,429 |   |             |   | 32,922 |   |   |   | 81,105 |   |   |   | 92,947 |   |
| Total      linehaul and dedicated fleet revenue  |   | $                 | 79,131 |   |             | $      | 94,328 |   |   | $ | 240,510 |   |   | $ | 273,436 |   |
|                                                  |   |              |   |   |             |   |   |   |   |   |   |   |   |   |   |   |
| Weekly      average trucks                            |   |              | 1,991  |   |             |   | 2,011 |   |   |   | 2,024 |   |   |   | 2,029 |   |
| Revenue      per truck per week (c)                   |   | $                 | 3,024  |   |             | $      | 3,569 |   |   | $ | 3,047 |   |   | $ | 3,443 |   |

|        Computational      notes: |
|---------------------------------------|
| (a)                                   | Revenue      and expense amounts are stated in thousands of dollars. |
| (b)                                   | Operating      expenses divided by total revenue. |
| (c)                                   | Average      daily revenue, times seven, divided by weekly average    trucks. |

----

              The following table summarizes and compares selected statistical data relatingto our freight operations for each of the three- and nine-month periods endedSeptember 30:

|                                                                |   | Three      Months |      |   | Nine      Months |   |
|---------------------------------------------------------------------|--------|-------------------|-----------|--------|------------------|--------|
| Truckload                                                           |   | 2009              |      |   | 2008             |   |   | 2009 |   |   | 2008 |   |
|     Total      linehaul miles (a)               |   |              | 37,549    |   |             |   | 40,736 |   |   |   | 115,628 |   |   |   | 123,124 |   |
|     Loaded      miles (a)                       |   |              | 33,352    |   |             |   | 36,926 |   |   |   | 104,040 |   |   |   | 111,989 |   |
|     Empty      mile ratio (b)                   |   |              | 11.2      | %      |             |   | 9.4 | % |   |   | 10.0 | % |   |   | 9.0 | % |
|     Linehaul      revenue per total mile (c)    |   | $                 | 1.25      |   |             | $      | 1.34 |   |   | $ | 1.25 |   |   | $ | 1.32 |   |
|     Linehaul      revenue per loaded mile (d)   |   | $                 | 1.41      |   |             | $      | 1.48 |   |   | $ | 1.39 |   |   | $ | 1.45 |   |
|     Linehaul      shipments (a)                 |   |              | 39.8      |   |             |   | 39.0 |   |   |   | 117.4 |   |   |   | 115.1 |   |
|     Loaded      miles per shipment (e)          |   |              | 838       |   |             |   | 946 |   |   |   | 886 |   |   |   | 973 |   |
| LTL                                                                 |   |              |      |   |             |   |   |   |   |   |   |   |   |   |   |   |
|     Hundredweight                               |   |              | 1,890,510 |   |             |   | 2,189,626 |   |   |   | 5,630,191 |   |   |   | 6,397,453 |   |
|     Shipments      (a)                          |   |              | 62.3      |   |             |   | 71.9 |   |   |   | 184.0 |   |   |   | 205.4 |   |
|     Linehaul      revenue per hundredweight (f) |   | $                 | 14.51     |   |             | $      | 15.04 |   |   | $ | 14.41 |   |   | $ | 14.53 |   |
|     Linehaul      revenue per shipment (g)      |   | $                 | 440       |   |             | $      | 458 |   |   | $ | 441 |   |   | $ | 453 |   |
|     Average      weight per shipment (h)        |   |              | 3,035     |   |             |   | 3,046 |   |   |   | 3,060 |   |   |   | 3,115 |   |

| Computational      notes: |
|---------------------------|
| (a)                       | Amounts      are stated in thousands. |
| (b)                       | Total      truckload linehaul miles less truckload loaded miles, divided by total      truckload linehaul miles. |
| (c)                       | Revenue      from truckload linehaul services divided by total truckload linehaul      miles. |
| (d)                       | Revenue      from truckload linehaul services divided by truckload loaded      miles. |
| (e)                       | Total      truckload loaded miles divided by number of truckload linehaul      shipments. |
| (f)                       | LTL      revenue divided by LTL hundredweight. |
| (g)                       | LTL      revenue divided by number of LTL shipments. |
| (h)                       | LTL      hundredweight times one hundred divided by number of      shipments.  |

|                        |   | 2009   |   |   | 2008   |   |
|-----------------------------|--------|--------|--------|--------|--------|--------|
| Total      company-provided |   |   | 1,591  |   |   |   | 1,614 |   |
| Total      owner-operator   |   |   | 409    |   |   |   | 402 |   |
| Total      tractors         |   |   | 2,000  |   |   |   | 2,016 |   |
| Total      trailers         |   |   | 3,780  |   |   |   | 4,364 |   |

----

| Revenue      from (a)                                                               |   | 2009   |   |    | 2008   |   |    | Dollar      Change2009      vs. 2008 |   | Percentage      Change2009      vs. 2008 |    |   |
|-------------------------------------------------------------------------------------|--------|--------|--------|---------|--------|--------|---------|--------------------------------------|--------|------------------------------------------|---------|--------|
| Temperature-controlled      fleet                                                   |   | $      | 34,684 |    |   | $      | 37,626  |                                 |   | $                                        | (2,942  | )      | (7.8 | ) | % |
| Dry-freight      fleet                                                              |   |   | 12,269 |    |   |   | 16,921  |                                 |   |                                     | (4,652  | )      | (27.5 | ) |   |
|      Total      truckload linehaul services                |   |   | 46,953 |    |   |   | 54,547  |                                 |   |                                     | (7,594  | )      | (13.9 | ) |   |
| Dedicated      fleets                                                               |   |   | 4,749  |    |   |   | 6,859   |                                 |   |                                     | (2,110  | )      | (30.8 | ) |   |
|      Total      truckload                                  |   |   | 51,702 |    |   |   | 61,406  |                                 |   |                                     | (9,704  | )      | (15.8 | ) |   |
| Less-than-truckload      linehaul services                                          |   |   | 27,429 |    |   |   | 32,922  |                                 |   |                                     | (5,493  | )      | (16.7 | ) |   |
| Fuel      surcharges                                                                |   |   | 12,492 |    |   |   | 33,864  |                                 |   |                                     | (21,372 | )      | (63.1 | ) |   |
| Brokerage                                                                           |   |   | 1,657  |    |   |   | 3,128   |                                 |   |                                     | (1,471  | )      | (47.0 | ) |   |
| Equipment      rental                                                     |   |   | 1,220  |    |   |   | 1,131   |                                 |   |                                     | 89      |   | 7.9 |   |   |
|      Total      revenue                               |   |   | 94,500 |    |   |   | 132,451 |                                 |   |                                     | (37,951 | )      | (28.7 | ) |   |
|                                                                                |   |   |   |    |   |   |    |                                 |   |                                     |    |   |   |   |   |
| Operating      expenses                                                             |   |   | 99,333 |    |   |   | 128,891 |                                 |   |                                     | (29,558 | )      | (22.9 | ) |   |
| Income      (loss) income from operations                                           |   | $      | (4,833 | )  |   | $      | 3,560   |                                 |   | $                                        | (8,393  | )      | (235.8 | ) | % |
| Operating      ratio (b)                                                            |   |   | 105.1  | %       |   |   | 97.3    | %                                    |   |                                     |    |   |   |   |   |
|                                                                                |   |   |   |    |   |   |    |                                 |   |                                     |    |   |   |   |   |
| Total      truckload revenue                                                        |   | $      | 51,702 |    |   | $      | 61,406  |                                 |   | $                                        | (9,704  | )      | (15.8 | ) | % |
| Less-than-truckload      revenue                                                    |   |   | 27,429 |    |   |   | 32,922  |                                 |   |                                     | (5,493  | )      | (16.7 | ) |   |
|      Total      linehaul and dedicated fleet revenue  |   | $      | 79,131 |    |   | $      | 94,328  |                                 |   | $                                        | (15,197 | )      | (16.1 | ) | % |
|                                                                                |   |   |   |    |   |   |    |                                 |   |                                     |    |   |   |   |   |
| Weekly      average trucks                                                          |   |   | 1,991  |    |   |   | 2,011   |                                 |   |                                     | (20     | )      | (1.0 | ) | % |
| Revenue      per truck per week (c)                                                 |   | $      | 3,024  |    |   | $      | 3,569   |                                 |   | $                                        | (545    | )      | (15.3 | ) | % |

| Computational      notes: |
|---------------------------|
| (a)                       | Revenue      and expense amounts are stated in thousands of dollars. |
| (b)                       | Operating      expenses divided by total revenue. |
| (c)                       | Average      daily revenue, times seven, divided by weekly average trucks in      service. |

----

|                                                                      |   | (in      thousands)Dollar      Change |    | Percentage      Change |   | Percentage      of Revenue |   |
|---------------------------------------------------------------------------|--------|---------------------------------------|---------|------------------------|--------|----------------------------|--------|
|                                                                      |   | 2009      vs. 2008                    |    | 2009      vs. 2008     |   |        2009      |   |        2008  |   |
| Revenue                                                                   |   | $                                     | (37,951 | )                      | (28.7  | )%                         | 100.0  | % | 100.0 | % |
|                                                                      |   |                                  |    |                   |   |                       |   |   |   |   |
| Operating      Expenses                                                   |   |                                  |    |                   |   |                       |   |   |   |   |
|      Salaries,      wages and related expenses   |   |                                  | (3,387  | )                      | (10.1  | )                          | 32.1   |   | 25.4 |   |
|      Purchased      transportation               |   |                                  | (9,271  | )                      | (31.4  | )                          | 21.4   |   | 22.3 |   |
|      Fuel                                        |   |                                  | (14,998 | )                      | (46.7  | )                          | 18.1   |   | 24.3 |   |
|      Supplies      and maintenance               |   |                                  | (2,561  | )                      | (18.2  | )                          | 12.2   |   | 10.6 |   |
|      Revenue      equipment rent                 |   |                                  | 426     |                   | 4.7    |                       | 10.0   |   | 6.8 |   |
|      Depreciation                                |   |                                  | (381    | )                      | (8.1   | )                          | 4.6    |   | 3.5 |   |
|      Claims      and insurance                   |   |                                  | 482     |                   | 17.6   |                       | 3.4    |   | 2.1 |   |
|      Communications      and utilities           |   |                                  | (87     | )                      | (6.2   | )                          | 1.4    |   | 1.1 |   |
|      Operating      taxes and licenses           |   |                                  | (87     | )                      | (7.5   | )                          | 1.1    |   | 0.9 |   |
|      Gain      on sale of property and equipment |   |                                  | 668     |                   | (136.0 | )                          | 0.2    |   | (0.4 | ) |
|      Miscellaneous                               |   |                                  | (362    | )                      | (36.2  | )                          | 0.6    |   | 0.7 |   |
| Total      Operating Expenses                                             |   | $                                     | (29,558 | )                      | (22.9  | )%                         | 105.1  | % | 97.3 | %  |

----

----

| Revenue      from (a)                                                               |   | 2009   |    |    | 2008   |   |    | Dollar      Change2009      vs. 2008 |   | Percentage      Change2009      vs. 2008 |    |   |
|-------------------------------------------------------------------------------------|--------|--------|---------|---------|--------|--------|---------|--------------------------------------|--------|------------------------------------------|---------|--------|
| Temperature-controlled      fleet                                                   |   | $      | 103,630 |    |   | $      | 108,854 |                                 |   | $                                        | (5,224  | )      | (4.8 | ) | % |
| Dry-freight      fleet                                                              |   |   | 40,805  |    |   |   | 53,107  |                                 |   |                                     | (12,302 | )      | (23.2 | ) |   |
|      Total      truckload linehaul services                |   |   | 144,435 |    |   |   | 161,961 |                                 |   |                                     | (17,526 | )      | (10.8 | ) |   |
| Dedicated      fleets                                                               |   |   | 14,970  |    |   |   | 18,528  |                                 |   |                                     | (3,558  | )      | (19.2 | ) |   |
|      Total      truckload                                  |   |   | 159,405 |    |   |   | 180,489 |                                 |   |                                     | (21,084 | )      | (11.7 | ) |   |
| Less-than-truckload      linehaul services                                          |   |   | 81,105  |    |   |   | 92,947  |                                 |   |                                     | (11,842 | )      | (12.7 | ) |   |
| Fuel      surcharges                                                                |   |   | 32,065  |    |   |   | 90,124  |                                 |   |                                     | (58,059 | )      | (64.4 | ) |   |
| Brokerage                                                                           |   |   | 5,415   |    |   |   | 10,629  |                                 |   |                                     | (5,214  | )      | (49.1 | ) |   |
| Equipment      rental                                                     |   |   | 3,612   |    |   |   | 4,017   |                                 |   |                                     | (405    | )      | (10.1 | ) |   |
|      Total      revenue                               |   |   | 281,602 |    |   |   | 378,206 |                                 |   |                                     | (96,604 | )      | (25.5 | ) |   |
|                                                                                |   |   |    |    |   |   |    |                                 |   |                                     |    |   |   |   |   |
| Operating      expenses                                                             |   |   | 301,454 |    |   |   | 376,346 |                                 |   |                                     | (74,892 | )      | (19.9 | ) |   |
| Income      (loss) from operations                                                  |   | $      | (19,852 | )  |   | $      | 1,860   |                                 |   | $                                        | (21,712 | )      | (1,167.3 | ) | % |
| Operating      ratio (b)                                                            |   |   | 107.0   | %       |   |   | 99.5    | %                                    |   |                                     |    |   |   |   |   |
|                                                                                |   |   |    |    |   |   |    |                                 |   |                                     |    |   |   |   |   |
| Total      truckload revenue                                                        |   | $      | 159,405 |    |   | $      | 180,489 |                                 |   | $                                        | (21,084 | )      | (11.7 | ) | % |
| Less-than-truckload      revenue                                                    |   |   | 81,105  |    |   |   | 92,947  |                                 |   |                                     | (11,842 | )      | (12.7 | ) |   |
|      Total      linehaul and dedicated fleet revenue  |   | $      | 240,510 |    |   | $      | 273,436 |                                 |   | $                                        | (32,926 | )      | (12.0 | ) | % |
|                                                                                |   |   |    |    |   |   |    |                                 |   |                                     |    |   |   |   |   |
| Weekly      average trucks                                                          |   |   | 2,024   |    |   |   | 2,029   |                                 |   |                                     | (5      | )      | (0.2 | ) | % |
| Revenue      per truck per week (c)                                                 |   | $      | 3,047   |    |   | $      | 3,443   |                                 |   | $                                        | (396    | )      | (11.5 | ) | % |

| Computational      notes: |
|---------------------------|
| (a)                       | Revenue      and expense amounts are stated in thousands of dollars. |
| (b)                       | Operating      expenses divided by total revenue. |
| (c)                       | Average      daily revenue, times seven, divided by weekly average    trucks. |

----

|                                                                      |   | (in      thousands)Dollar      Change |    | Percentage      Change |   | Percentage      of Revenue |   |
|---------------------------------------------------------------------------|--------|---------------------------------------|---------|------------------------|--------|----------------------------|--------|
|                                                                      |   | 2009      vs. 2008                    |    | 2009      vs. 2008     |   |        2009      |   |        2008  |   |
| Revenue                                                                   |   | $                                     | (96,604 | )                      | (25.5  | )%                         | 100.0  | % | 100.0 | % |
|                                                                      |   |                                  |    |                   |   |                       |   |   |   |   |
| Operating      Expenses                                                   |   |                                  |    |                   |   |                       |   |   |   |   |
|      Salaries,      wages and related expenses   |   |                                  | (2,409  | )                      | (2.5   | )                          | 33.4   |   | 25.5 |   |
|      Purchased      transportation               |   |                                  | (31,389 | )                      | (33.7  | )                          | 21.9   |   | 24.6 |   |
|      Fuel                                        |   |                                  | (42,443 | )                      | (47.9  | )                          | 16.4   |   | 23.5 |   |
|      Supplies      and maintenance               |   |                                  | (3,990  | )                      | (10.0  | )                          | 12.7   |   | 10.5 |   |
|      Revenue      equipment rent                 |   |                                  | 3,652   |                   | 14.2   |                       | 10.4   |   | 6.8 |   |
|      Depreciation                                |   |                                  | (887    | )                      | (6.3   | )                          | 4.7    |   | 3.8 |   |
|      Claims      and insurance                   |   |                                  | 1,933   |                   | 21.5   |                       | 3.9    |   | 2.4 |   |
|      Communications      and utilities           |   |                                  | 262     |                   | 7.2    |                       | 1.4    |   | 1.0 |   |
|      Operating      taxes and licenses           |   |                                  | 225     |                   | 6.6    |                       | 1.3    |   | 0.9 |   |
|      Gain      on sale of property and equipment |   |                                  | 1,021   |                   | (93.2  | )                          | 0.0    |   | (0.3 | ) |
|      Miscellaneous                               |   |                                  | (867    | )                      | (26.8  | )                          | 0.9    |   | 0.8 |   |
| Total      Operating Expenses                                             |   | $                                     | (74,892 | )                      | (19.9  | )%                         | 107.0  | % | 99.5 | %  |

----

----

|                                                           |   | (in      thousands)                  |   |
|----------------------------------------------------------------|--------|--------------------------------------|--------|
|                                                           |   | Nine      Months Ended September 30, |   |
|                                                           |   | 2009                                 |   |   | 2008 |   |
| Net      cash flows provided by operating activities           |   | $                                    | 6,516  |   |   | $ | 3,017 |   |
| Net      cash flows (used in) investing activities             |   |                                 | (4,537 | ) |   |   | (7,799 | ) |
| Net      cash flows (used in) provided by financing activities |   |                                 | (617   | ) |   |   | 4,552 |   |
| Debt      at September 30                                      |   |                                 | -      |   |   |   | 5,800 |   |

----

----

| · | The      ratio of our annual earnings before interest, taxes, depreciation,      amortization, rental and any non-cash expenses from stock option activity      (as defined in the Credit Facility, “EBITDAR”) to the amount of our annual      fixed charges may not be less than 1.25:1.0. Fixed charges generally      include interest payments, rental expense, taxes paid, dividends paid and      payments due on outstanding debt. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The      ratio of our funded debt to EBITDAR may not exceed 2.5:1.0. Funded debt      generally includes the amount borrowed under the credit facility or      similar arrangements, letters of credit and the aggregate minimum amount      of operating lease payments we are obligated to pay in the      future. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Our      tangible net worth must remain an amount greater than $85.0 million.      Tangible net worth is generally defined as our net shareholders' equity      minus intangible and certain other assets plus 100% of any cash we receive      from the issuance of equitysecurities. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | The      annual amount of our net expenditures for property and equipment may not      be more than $25.0 million after taking into account the amounts we      receive from the sale of suchassets. |
|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| · | Payments      of dividends are generally limited by the ratio of our EBITDAR to fixed      charges and if the previous quarter is not  profitable. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------|

| Periods      Ending                           |   | EBITDAR      to Fixed Charges |   | Funded      Debt to EBITDAR |   | (in      thousands)Minimum      Tangible Net Worth |         |
|-----------------------------------------------|--------|-------------------------------|--------|-----------------------------|--------|----------------------------------------------------|--------------|
|  October      2009 – November 2009 |   | 1.05:1.0                      |   | 2.75:1.0               |   | $                                             | 85,000  |   |
| December      2009 – February 2010      |   | 1.05:1.0                      |   | 2.75:1.0                    |   |                                               | 80,000       |   |
| March      2010 – May 2010              |   | 1.10:1.0                      |   | 2.75:1.0                    |   |                                               | 80,000       |   |
| June      2010 – August 2010            |   | 1.20:1.0                      |   | 2.75:1.0                    |   |                                               | 75,000       |   |
| Subsequent      to August 2010                |   | 1.25:1.0                      |   | 2.50:1.0                    |   |                                               | 75,000       |   |

----

The following is a summary of our contractual obligations as ofSeptember 30, 2009:

|                              |   | (in      thousands) |    |
|-----------------------------------|--------|---------------------|---------|
|                              |   | Total               |    |   | 2009 |   |   |   | 2010-2011 |   |   |   | 2012-2013 |   |   | After      2013 |   |
| Letters      of credit            |   | $                   | 5,422   |   |   | $ | - |   |   | $ | 5,422 |   |   | $ | - |   |   | $ | - |   |
| Purchase      obligations         |   |                | 19,933  |   |   |   | 19,933 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Operating      leases obligations |   |                |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Rentals                           |   |                | 89,680  |   |   |   | 8,970 |   |   |   | 50,630 |   |   |   | 19,174 |   |   |   | 10,906 |   |
| Residual      guarantees          |   |                | 8,642   |   |   |   | - |   |   |   | 3,578 |   |   |   | 5,064 |   |   |   | - |   |
|                              |   | $              | 123,677 |   |   | $ | 28,903 |   |   | $ | 59,630 |   |   | $ | 24,238 |   |   | $ | 10,906 |   |

----

AccountsReceivable.  We are dependent upon contracts with customersthat generate a large portion of our revenue.  Accounts receivable arerecorded at the invoiced amounts, net of an allowance for doubtfulaccounts.  A considerable amount of judgment is required in assessing therealization of these receivables including the current creditworthiness of eachcustomer and related aging of the past-due balances, including any billingdisputes.  In order to assess the collectability of these receivables, weperform ongoing credit evaluations of our customers’ financial condition. Through these evaluations, we may become aware of a situation in which acustomer may not be able to meet its financial obligations due to deteriorationof its financial viability, credit ratings or bankruptcy.  The allowancefor doubtful accounts is based on the best information available to us and isreevaluated and adjusted as additional information is received.  Weevaluate the allowance based on historical write-off experience, the size of theindividual customer balances, past-due amounts and the overall nationaleconomy.  We perform ongoing reviews of the adequacy of our allowance fordoubtful accounts.  Invoice balances after the due date are considered pastdue per our policy and are reviewed individually for collectability. Initial payments by new customers are monitored for compliance with contractualterms.  Account balances are charged off against the allowance after allmeans of collection have been exhausted and the potential recovery is consideredremote.

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              IncomeTaxes.  As part of the process of preparing our consolidatedfinancial statements, we are required to estimate our income taxes in each ofthe jurisdictions in which we operate.  This process involves estimatingour current tax exposure together with assessing temporary differences resultingfrom differing treatment of items for tax and financial reportingpurposes.  These temporary differences result in deferred tax assets andliabilities, which are included in our accompanying consolidated balancesheets.  Deferred tax assets and liabilities are measured using enacted taxrates expected to apply to taxable income in the years in which the temporarydifferences are expected to be recovered or settled.  To the extent it isdetermined that it is not likely that our deferred tax assets will be recovered,a valuation allowance must be established for the amount of the deferred taxassets determined not to be realizable.  We believe the deferred tax assetswill be principally realized through future reversals of existing temporarydifferences (deferred tax liabilities) and future taxable income.  However,if the facts or our financial results were to change, thereby impacting thelikelihood of realizing the deferred tax assets, judgment would have to beapplied to determine the amount of any increase to the valuation allowance thatwould be required in any given period.

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 Item 3.   Quantitative and QualitativeDisclosures about Market Risk

As required by Rule 13a-15 under theSecurities Exchange Act of 1934 (the “Exchange Act”), we have carried out anevaluation of the effectiveness of the design and operation of our disclosurecontrols and procedures (as defined in Exchange Act Rule 13a-15(e)) as ofthe end of the period covered by this report.  This evaluation was carriedout under the supervision and with the participation of our management,including our Chief Executive Officer and our Chief Financial Officer. Based upon that evaluation, our Chief Executive Officer and our Chief FinancialOfficer concluded that our disclosure controls and procedures were effective asof September 30, 2009.  There were no changes in our internal control overfinancial reporting that occurred during the period covered by this report thathave materially affected, or that are reasonably likely to materially affect,our internal control over financial reporting.  We intend to periodicallyevaluate our disclosure controls and procedures as required by the Exchange ActRules.

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Certain risksassociated with our operations are discussed in our Annual Report onForm 10-K for the year ended December 31, 2008, under the heading“Risk Factors” in Item 1A of that report.  We do not believe there havebeen any material changes in these risks during the nine months ended September30, 2009.

                None.

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   Exhibits

| 3.1    | Restated      Articles of Incorporation of Frozen Food Express Industries, Inc. (filed      as Exhibit 3(i) to the Company’s Current Report on Form 8-K on May 29,      2007 and incorporated herein by reference).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 3.2    | Amended      and Restated Bylaws of Frozen Food Express Industries, Inc. (filed as      Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the      Commission on March 3, 2009 and incorporated herein by      reference).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.1   | Second      Amended and Restated Credit Agreement, dated as of September 2, 2009,      among FFE Transportation Services, Inc., a Delaware corporation, Frozen      Food Express Industries, Inc., a Texas corporation, Conwell Corporation, a      Delaware corporation, FX Holdings, Inc., a Delaware corporation, Lisa      Motor Lines, Inc., a Delaware corporation, Compressors Plus, Inc., a Texas      corporation, FFE Logistics, Inc., a Delaware corporation, Conwell LLC, a      Delaware limited liability company, Comerica Bank, a Texas banking      association, each other entity which may from time to time become party      hereto as a lender hereunder or any successor or assignee thereof, and      Comerica as Administrative Agent, Collateral Agent and Issuing Bank (filed      as Exhibit 10.1 to the Company's Current Report on Form 8-K on September      8, 2009 and incorporated herein by reference). |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.2   | First      Amendment to the Second Amended and Restated Credit Agreement among      Comerica Bank as administrative agent, collateral agent, issuing bank and      bank and FFE Transportation Services, Inc. as borrower and certain of its      affiliates as of September 2, 2009 (filed herewith).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 31.1   | Certification      of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley      Act of 2002 (filed herewith).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 31.2   | Certification      of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley      Act of 2002 (filed herewith).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 32.1   | Certification      of Chief Executive Officer and Chief Financial Officer pursuant to Section      906 of the Sarbanes-Oxley Act of 2002 (filed  herewith).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |

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|                               |  FROZEN      FOOD EXPRESS INDUSTRIES, INC. |
|------------------------------------|-------------------------------------------------|
|                               | (Registrant)                                    |
|                               |                                            |   |
|  Dated:      November 6, 2009 |  By                                        |  /s/      Stoney M. Stubbs, Jr. |
|                               |                                            | Stoney      M. Stubbs, Jr.Chairman      of the Board, President and Chief Executive Officer(Principal      Executive Officer) |
|  Dated:      November 6, 2009 |  By                                        |  /s/      Ronald J. Knutson |
|                               |                                            | Ronald      J. KnutsonSenior      Vice President and Chief Financial Officer(Principal      Financial and Accounting Officer) |

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| 3.1    | Restated      Articles of Incorporation of Frozen Food Express Industries, Inc. (filed      as Exhibit 3(i) to the Company’s Current Report on Form 8-K on May 29,      2007 and incorporated herein by reference).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 3.2    | Amended      and Restated Bylaws of Frozen Food Express Industries, Inc. (filed as      Exhibit 3.1 to the Company’s Current Report on Form 8-K filed with the      Commission on March 3, 2009 and incorporated herein by      reference).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.1   | Second      Amended and Restated Credit Agreement, dated as of September 2, 2009,      among FFE Transportation Services, Inc., a Delaware corporation, Frozen      Food Express Industries, Inc., a Texas corporation, Conwell Corporation, a      Delaware corporation, FX Holdings, Inc., a Delaware corporation, Lisa      Motor Lines, Inc., a Delaware corporation, Compressors Plus, Inc., a Texas      corporation, FFE Logistics, Inc., a Delaware corporation, Conwell LLC, a      Delaware limited liability company, Comerica Bank, a Texas banking      association, each other entity which may from time to time become party      hereto as a lender hereunder or any successor or assignee thereof, and      Comerica as Administrative Agent, Collateral Agent and Issuing Bank (filed      as Exhibit 10.1 to the Company's Current Report on Form 8-K on September      8, 2009 and incorporated herein by reference). |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 10.2   | First      Amendment to the Second Amended and Restated Credit Agreement among      Comerica Bank as administrative agent for collateral agent, issuing bank      and bank and FFE Transportation Services, Inc. as borrower and certain of      its affiliates as of September 2, 2009 (filedherewith).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 31.1   | Certification      of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley      Act of 2002 (filed herewith).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 31.2   | Certification      of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley      Act of 2002 (filed herewith).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
| 32.1   | Certification      of Chief Executive Officer and Chief Financial Officer pursuant to Section      906 of the Sarbanes-Oxley Act of 2002 (filed  herewith).                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |

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