----

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| 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   o | Non-accelerated filer   ý | Smaller Reporting Company   o |
|---------------------------------------------|---------------------------------|------------------------------------------|-----------------------------------------|

|   | Class                         |   | Number of Shares Outstanding |   |
|--------|-------------------------------|--------|------------------------------|--------|
|   | Common stock, $1.50 par value |   | 17,565,160 at April 25, 2011 |   |

----

|    | PART I  Financial Information                                                                                                            | Page No. |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------|----------|
|    |                                                                                                                                          |     |
| Item 1  | Financial Statements                                                                                                                          |     |
|    | Consolidated Condensed Balance Sheets (unaudited)March 31, 2011 and December 31, 2010                                                         | 1        |
|    |                                                                                                                                          |     |
|    | Consolidated Condensed Statements of Operations (unaudited)Three months ended March 31, 2011 and 2010                                         | 2        |
|    |                                                                                                                                          |     |
|    | Consolidated Condensed Statements of Cash Flows (unaudited)Three months ended March 31, 2011 and 2010                                         | 3        |
|    |                                                                                                                                          |     |
|    | Consolidated Condensed Statements of Shareholders’ Equity (unaudited)Three months ended March 31, 2011 and year ended December 31, 2010 | 4        |
|    |                                                                                                                                          |     |
|    | Notes to Consolidated Condensed Financial Statements (unaudited)                                                                              | 5        |
|    |                                                                                                                                          |     |
| Item 2  | Management's Discussion and Analysis of Financial Condition and Results of Operations                                                         | 7        |
|    |                                                                                                                                          |     |
| Item 3  | Quantitative and Qualitative Disclosures about Market Risk                                                                                    | 18       |
|    |                                                                                                                                          |     |
| Item 4  | Controls and Procedures                                                                                                                       | 19       |
|    |                                                                                                                                          |     |
|    | PART II  Other Information                                                                                                               |     |
|    |                                                                                                                                          |     |
| Item 1  | Legal Proceedings                                                                                                                             | 19       |
|    |                                                                                                                                          |     |
| Item 1A | Risk Factors                                                                                                                                  | 20       |
|    |                                                                                                                                          |     |
| Item 2  | Unregistered Sales of Equity Securities and Use of Proceeds                                                                                   | 20       |
|    |                                                                                                                                          |     |
| Item 3  | Defaults Upon Senior Securities                                                                                                               | 20       |
|    |                                                                                                                                          |     |
| Item 4  | Reserved                                                                                                                                      | 20       |
|    |                                                                                                                                          |     |
| Item 5  | Other Information                                                                                                                             | 20       |
|    |                                                                                                                                          |     |
| Item 6  | Exhibits                                                                                                                                      | 20       |
|    |                                                                                                                                          |     |
|    | Signatures                                                                                                                                    | 21       |
|    |                                                                                                                                          |     |
|    | Exhibit Index                                                                                                                                 | 22       |

----

| Assets                                                                                                                     |   | March 31, 2011 |    |         | December 31,2010 |   |
|----------------------------------------------------------------------------------------------------------------------------|--------|----------------|---------|--------------|-----------------------|--------|
| Current assets                                                                                                             |   |           |    |         |                  |   |
| Cash and cash equivalents                                                                                                  |   | $              | 2,090   |         |                  | $      | 1,203 |   |
| Accounts receivable, net                                                                                                   |   |           | 43,614  |         |                  |   | 41,921 |   |
| Tires on equipment in use, net                                                                                             |   |           | 5,858   |         |                  |   | 5,982 |   |
| Deferred income taxes                                                                                                      |   |           | 1,150   |         |                  |   | 1,150 |   |
| Other current assets                                                                                                       |   |           | 4,764   |         |                  |   | 6,575 |   |
| Total current assets                                                                                                       |   |           | 57,476  |         |                  |   | 56,831 |   |
|                                                                                                                       |   |           |    |         |                  |   |   |   |
| Property and equipment, net                                                                                                |   |           | 70,146  |         |                  |   | 72,993 |   |
| Other assets                                                                                                               |   |           | 4,550   |         |                  |   | 5,081 |   |
| Total assets                                                                                                               |   | $              | 132,172 |         |                  | $      | 134,905 |   |
|                                                                                                                       |   |           |    |         |                  |   |   |   |
| Liabilities and Shareholders' Equity                                                                                       |   |           |    |         |                  |   |   |   |
| Current liabilities                                                                                                        |   |           |    |         |                  |   |   |   |
| Accounts payable                                                                                                           |   | $              | 25,722  |         |                  | $      | 27,443 |   |
| Insurance and claims accruals                                                                                              |   |           | 8,850   |         |                  |   | 8,697 |   |
| Accrued payroll and deferred compensation                                                                                  |   |           | 4,248   |         |                  |   | 5,032 |   |
| Accrued liabilities                                                                                                        |   |           | 813     |         |                  |   | 709 |   |
| Total current liabilities                                                                                                  |   |           | 39,633  |         |                  |   | 41,881 |   |
|                                                                                                                       |   |           |    |         |                  |   |   |   |
|                   Long-term debt |   |           | 13,668  |         |                  |   | 5,689 |   |
| Deferred income taxes                                                                                                      |   |           | 2,180   |         |                  |   | 3,153 |   |
| Insurance and claims accruals                                                                                              |   |           | 5,511   |         |                  |   | 5,373 |   |
| Total liabilities                                                                                                          |   |           | 60,992  |         |                  |   | 56,096 |   |
|                                                                                                                       |   |           |    |         |                  |   |   |   |
| 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                                                                                                 |   |           | 1,145   |    |                  |   | 1,353 |   |
| Retained earnings                                                                                                          |   |           | 50,305  |         |                  |   | 58,242 |   |
|                                                                                                                       |   |           | 79,308  |         |                  |   | 87,453 |   |
| Treasury stock (1,081 and 1,146 shares), at cost                                                                      |   |           | (8,128  | )            |                  |   | (8,644 | ) |
| Total shareholders' equity                                                                                                 |   |           | 71,180  |         |                  |   | 78,809 |   |
| Total liabilities and shareholders’ equity                                                                           |   | $              | 132,172 |         |                  | $      | 134,905 |   |

----

|                                          |   | Three MonthsEnded March 31, |    |
|-----------------------------------------------|--------|-----------------------------|---------|
|                                          |   | 2011                        |    |   | 2010 |   |
| Total operating revenue                       |   | $                           | 92,107  |   |   | $ | 85,842 |   |
| Operating expenses                            |   |                        |    |   |   |   |   |   |
| Salaries, wages and related expenses          |   |                        | 29,460  |   |   |   | 28,109 |   |
| Purchased transportation                      |   |                        | 16,216  |   |   |   | 18,117 |   |
| Fuel                                          |   |                        | 22,467  |   |   |   | 15,844 |   |
| Supplies and maintenance                      |   |                        | 12,622  |   |   |   | 10,613 |   |
| Revenue equipment rent                        |   |                        | 8,604   |   |   |   | 8,781 |   |
| Depreciation                                  |   |                        | 4,496   |   |   |   | 3,987 |   |
| Communications and utilities                  |   |                        | 1,299   |   |   |   | 1,174 |   |
| Claims and insurance                          |   |                        | 3,309   |   |   |   | 2,834 |   |
| Operating taxes and licenses                  |   |                        | 1,035   |   |   |   | 1,097 |   |
| Loss (gain) on sale of property and equipment |   |                        | 1       |   |   |   | (331 | ) |
| Miscellaneous                                 |   |                        | 1,380   |   |   |   | 1,179 |   |
|  Total operating expenses                |   |                        | 100,889 |   |   |   | 91,404 |   |
| Loss from operations                          |   |                        | (8,782  | ) |   |   | (5,562 | ) |
| Interest and other (income) expense           |   |                        |    |   |   |   |   |   |
| Interest income                               |   |                        | (2      | ) |   |   | (11 | ) |
| Interest expense                              |   |                        | 96      |   |   |   | 42 |   |
| Equity in earnings of limited partnership     |   |                        | (99     | ) |   |   | (40 | ) |
| Life insurance and other                      |   |                        | 100     |   |   |   | 146 |   |
|  Total interest and other expense        |   |                        | 95      |   |   |   | 137 |   |
| Loss before income taxes                      |   |                        | (8,877  | ) |   |   | (5,699 | ) |
| Income tax benefit                            |   |                        | (940    | ) |   |   | (1,976 | ) |
| Net loss                                      |   | $                           | (7,937  | ) |   | $ | (3,723 | ) |
|                                          |   |                        |    |   |   |   |   |   |
| Net loss per share of common stock            |   |                        |    |   |   |   |   |   |
| Basic                                         |   | $                           | (0.45   | ) |   | $ | (0.22 | ) |
| Diluted                                       |   | $                           | (0.45   | ) |   | $ | (0.22 | ) |
| Weighted average shares outstanding           |   |                        |    |   |   |   |   |   |
| Basic                                         |   |                        | 17,446  |   |   |   | 17,092 |   |
| Diluted                                       |   |                        | 17,446  |   |   |   | 17,092 |   |
| Dividends declared per common share           |   | $                           | -       |   |   | $ | - |   |

----

|                                                     |   | Three Months Ended March 31, |    |
|----------------------------------------------------------|--------|------------------------------|---------|
|                                                     |   | 2011                         |    |   | 2010 |   |
| Cash flows from operating activities                     |   |                         |    |   |   |   |   |   |
| Net loss                                                 |   | $                            | (7,937  | ) |   | $ | (3,723 | ) |
| Non-cash items included in net loss                      |   |                         |    |   |   |   |   |   |
| Depreciation and amortization                            |   |                         | 5,588   |   |   |   | 5,220 |   |
| Loss (gain) on sale of property and equipment            |   |                         | 1       |   |   |   | (331 | ) |
| Provision for losses on accounts receivable              |   |                         | 125     |   |   |   | 327 |   |
| Deferred income taxes                                    |   |                         | (973    | ) |   |   | (2,155 | ) |
| Deferred compensation                                    |   |                         | 73      |   |   |   | 351 |   |
| Investment income                                        |   |                         | (99     | ) |   |   | (40 | ) |
| Change in operating assets and liabilities               |   |                         |    |   |   |   |   |   |
| Accounts receivable                                      |   |                         | (1,818  | ) |   |   | 2,796 |   |
| Tires on equipment in use                                |   |                         | (893    | ) |   |   | (581 | ) |
| Other current assets                                     |   |                         | 896     |   |   |   | 5,282 |   |
| Other assets                                             |   |                         | (49     | ) |   |   |   - |   |
| Accounts payable                                         |   |                         | (2,069  | ) |   |   | (1,627 | ) |
| Insurance and claims accruals                            |   |                         | 291     |   |   |   | (2,672 | ) |
| Accrued liabilities, payroll and other                   |   |                         | (449    | ) |   |   | 1,029 |   |
| Net cash (used in) provided by operating activities      |   |                         | (7,313  | ) |   |   | 3,876 |   |
|                                                     |   |                         |    |   |   |   |   |   |
| Cash flows from investing activities                     |   |                         |    |   |   |   |   |   |
| Property and equipment purchases                         |   |                         | (1,305  | ) |   |   | (2,098 | ) |
| Proceeds from sale of property and equipment             |   |                         | 915     |   |   |   | 3,010 |   |
| Cash distributions from investments                      |   |                         | 605     |   |   |   | 718 |   |
| Other                                                    |   |                         | -       |   |   |   | 76 |   |
| Net cash provided by investing activities           |   |                         | 215     |   |   |   | 1,706 |   |
|                                                     |   |                         |    |   |   |   |   |   |
| Cash flows from financing activities                     |   |                         |    |   |   |   |   |   |
| Proceeds from borrowings                                 |   |                         | 46,014  |   |   |   | 10,407 |   |
| Payments against borrowings                              |   |                         | (38,034 | ) |   |   | (10,407 | ) |
| Income tax benefit of stock options and restricted stock |   |                         | 24      |   |   |   | 14 |   |
| Proceeds from capital stock transactions, net            |   |                         | 13      |   |   |   | 113 |   |
| Purchases of treasury stock                              |   |                         | (32     | ) |   |   | (66 | ) |
| Net cash provided by financing activities                |   |                         | 7,985   |   |   |   | 61 |   |
|                                                     |   |                         |    |   |   |   |   |   |
| Net increase in cash and cash equivalents                |   |                         | 887     |   |   |   | 5,643 |   |
| Cash and cash equivalents at beginning of period         |   |                         | 1,203   |   |   |   | 3,667 |   |
| Cash and cash equivalents at end of period               |   | $                            | 2,090   |   |   | $ | 9,310 |   |

----

|                                                 |   | Common Stock |   |   | Additional |   |   |    |   |   |     |   |   |           |    |
|------------------------------------------------------|--------|--------------|--------|--------|------------|--------|--------|---------|--------|--------|----------|--------|--------|----------------|---------|
|                                                 |   | Shares       |   |   | Par        |   |   | Paid in |   |   | Retained |   |   | Treasury Stock |    |   |   |   |
|                                                 |   | Issued       |   |   | Value      |   |   | Capital |   |   | Earnings |   |   | Shares         |    |   | Cost |   |   | Total |   |
| January 1, 2010                                      |   |         | 18,572 |   |       | $      | 27,858 |    |   | $      | 2,923    |   |   | $              | 70,172  |   |   |   | 1,477 |   |   | $ | (11,218 | ) |   | $ | 89,735 |   |
|     Net loss                     |   |         | -      |   |       |   | -      |    |   |   | -        |   |   |           | (11,930 | ) |   |   | - |   |   |   | - |   |   |   | (11,930 | ) |
|     Treasury stock reacquired    |   |         | -      |   |       |   | -      |    |   |   | -        |   |   |           | -       |   |   |   | 21 |   |   |   | (76 | ) |   |   | (76 | ) |
|     Retirement plans             |   |         | -      |   |       |   | -      |    |   |   | (12      | )      |   |           | -       |   |   |   | (1 | ) |   |   | 4 |   |   |   | (8 | ) |
|     Exercise of stock options    |   |         | -      |   |       |   | -      |    |   |   | (1,146   | )      |   |           | -       |   |   |   | (241 | ) |   |   | 1,817 |   |   |   | 671 |   |
|     Restricted stock             |   |         | -      |   |       |   | -      |    |   |   | (352     | )      |   |           | -       |   |   |   | (110 | ) |   |   | 829 |   |   |   | 477 |   |
|     Tax expense of stock options |   |         | -      |   |       |   | -      |    |   |   | (60      | )      |   |           | -       |   |   |   | - |   |   |   | - |   |   |   | (60 | ) |
| December 31, 2010                                    |   |         | 18,572 |   |       |   | 27,858 |    |   |   | 1,353    |   |   |           | 58,242  |   |   |   | 1,146 |   |   |   | (8,644 | ) |   |   | 78,809 |   |
|     Net loss                     |   |         | -      |   |       |   | -      |    |   |   | -        |   |   |           | (7,937  | ) |   |   | - |   |   |   |   |   |   |   | (7,937 | ) |
|     Treasury stock reacquired    |   |         | -      |   |       |   | -      |    |   |   | -        |   |   |           | -  |   |   |   | 8 |   |   |   | (32 | ) |   |   | (32 | ) |
|     Retirement plans             |   |         | -      |   |       |   | -      |    |   |   | (37      | )      |   |           | -  |   |   |   | (10 | ) |   |   | 73 |   |   |   | 36 |   |
|     Exercise of stock options    |   |         | -      |   |       |   | -      |    |   |   | (43      | )      |   |           | -  |   |   |   | (8 | ) |   |   | 56 |   |   |   | 13 |   |
|     Restricted stock             |   |         | -      |   |       |   | -      |    |   |   | (152     | )      |   |           | -  |   |   |   | (55 | ) |   |   | 419 |   |   |   | 267 |   |
|     Tax benefit of stock options |   |         | -      |   |       |   | -      |    |   |   | 24       |   |   |           | -  |   |   |   | - |   |   |   | - |   |   |   | 24 |   |
| March 31, 2011                                       |   |         | 18,572 |   |       | $      | 27,858 |    |   | $      | 1,145    |   |   | $              | 50,305  |   |   |   | 1,081 |   |   | $ | (8,128 | ) |   | $ | 71,180 |   |

----

----

|                                               |   | Three Months Ended March 31,             |   |
|----------------------------------------------------|--------|------------------------------------------|--------|
|                                               |   | (in thousands, except per share amounts) |   |
|                                               |   | 2011                                     |   |   | 2010 |   |
| Numerator:                                         |   |                                     |   |   |   |   |
|    Net loss                         |   | $                                        | (7,937 | ) |   | $ | (3,723 | ) |
|                                               |   |                                     |   |   |   |   |   |   |
| Denominator:                                       |   |                                     |   |   |   |   |   |   |
|    Basic-weighted average shares    |   |                                     | 17,446 |   |   |   | 17,092 |   |
|    Effect of dilutive stock options |   |                                     | -      |   |   |   | - |   |
|    Diluted-weighted average shares  |   |                                     | 17,446 |   |   |   | 17,092 |   |
|                                               |   |                                     |   |   |   |   |   |   |
| Basic loss per common share                        |   | $                                        | (0.45  | ) |   | $ | (0.22 | ) |
| Diluted loss per common share                      |   | $                                        | (0.45  | ) |   | $ | (0.22 | ) |

----

----

----

| Revenue from: (a)                                   |   | 2011   |        |    | 2010   |   |
|-----------------------------------------------------|--------|--------|-------------|---------|--------|--------|
| Temperature-controlled services                     |   | $      | 29,416      |    |   | $      | 25,423 |   |
| Dry-freight services                                |   |   | 11,420      |    |   |   | 15,268 |   |
| Total truckload linehaul services                   |   |   | 40,836      |    |   |   | 40,691 |   |
| Dedicated fleets                                    |   |   | 4,305       |    |   |   | 4,225 |   |
| Total truckload                                     |   |   | 45,141      |    |   |   | 44,916 |   |
| Less-than-truckload linehaul services               |   |   | 26,201      |    |   |   | 25,267 |   |
| Fuel surcharges                                     |   |   | 18,683      |    |   |   | 12,534 |   |
| Brokerage                                           |   |   | 1,138       |    |   |   | 2,011 |   |
| Equipment rental                          |   |   | 944         |    |   |   | 1,114 |   |
| Total operating revenue                             |   |   | 92,107      |    |   |   | 85,842 |   |
|                                                |   |   |        |    |   |   |   |   |
| Operating expenses                                  |   |   | 100,889     |    |   |   | 91,404 |   |
| Loss from freight operations                        |   | $      | (8,782      | )  |   | $      | (5,562 | ) |
| Operating ratio (b)                                 |   |   |  109.5 | %       |   |   | 106.5 | % |
|                                                |   |   |        |    |   |   |   |   |
| Total truckload revenue                             |   | $      | 45,141      |    |   | $      | 44,916 |   |
| Less-than-truckload  revenue              |   |   | 26,201      |    |   |   | 25,267 |   |
| Total linehaul and dedicated services revenue  |   | $      | 71,342      |    |   | $      | 70,183 |   |
|                                                |   |   |        |    |   |   |   |   |
| Weekly average trucks in service                    |   |   | 1,774       |    |   |   | 1,751 |   |
| Revenue per truck per week (c)                      |   | $      | 3,128       |    |   | $      | 3,118 |   |

|   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. |

----

| Truckload                                                      |   | 2011   |   |   | 2010   |   |
|----------------------------------------------------------------|--------|--------|--------|--------|--------|--------|
|     Total linehaul miles (a)               |   |   | 29,891 |   |   |   | 31,630 |   |
|     Loaded miles (a)                       |   |   | 26,636 |   |   |   | 28,238 |   |
|     Empty mile ratio (b)                   |   |   | 10.9   | %      |   |   | 10.7 | % |
|     Linehaul revenue per total mile (c)    |   | $      | 1.37   |   |   | $      | 1.29 |   |
|     Linehaul revenue per loaded mile (d)   |   | $      | 1.53   |   |   | $      | 1.44 |   |
|     Linehaul shipments (a)                 |   |   | 29.2   |   |   |   | 30.7 |   |
|     Loaded miles per shipment (e)          |   |   | 912    |   |   |   | 921 |   |
| LTL                                                            |   |   |   |   |   |   |   |   |
|     Hundredweight                          |   |   | 1,934  |   |   |   | 1,820 |   |
|     Shipments (a)                          |   |   | 61.0   |   |   |   | 59.1 |   |
|     Linehaul revenue per hundredweight (f) |   | $      | 13.55  |   |   | $      | 13.89 |   |
|     Linehaul revenue per shipment (g)      |   | $      | 430    |   |   | $      | 427 |   |
|     Average weight per shipment (h)        |   |   | 3,172  |   |   |   | 3,079 |   |

| 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.  |

|                                    |   | 2011   |   |   | 2010   |   |
|-----------------------------------------|--------|--------|--------|--------|--------|--------|
| Total company tractors available        |   |   | 1,529  |   |   |   | 1,461 |   |
| Total owner-operator tractors available |   |   | 294    |   |   |   | 393 |   |
| Total tractors available                |   |   | 1,823  |   |   |   | 1,854 |   |
| Total trailers available                |   |   | 3,367  |   |   |   | 3,493 |   |

----

| Revenue from (a)                                    |   | 2011   |    |   | 2010   |   |   | Dollar Change2011 vs. 2010 |   | Percentage Change2011 vs. 2010 |   |
|-----------------------------------------------------|--------|--------|---------|--------|--------|--------|--------|----------------------------|--------|--------------------------------|--------|
| Temperature-controlled services                     |   | $      | 29,416  |   |   | $      | 25,423 |                       |   | $                              | 3,993  |   | 15.7 | % |
| Dry-freight services                                |   |   | 11,420  |   |   |   | 15,268 |                       |   |                           | (3,848 | ) | (25.2 | ) |
| Total truckload linehaul services                   |   |   | 40,836  |   |   |   | 40,691 |                       |   |                           | 145    |   | 0.4 |   |
| Dedicated services                                  |   |   | 4,305   |   |   |   | 4,225  |                       |   |                           | 80     |   | 1.9 |   |
| Total truckload                                     |   |   | 45,141  |   |   |   | 44,916 |                       |   |                           | 225    |   | 0.5 |   |
| Less-than-truckload linehaul services               |   |   | 26,201  |   |   |   | 25,267 |                       |   |                           | 934    |   | 3.7 |   |
| Fuel surcharges                                     |   |   | 18,683  |   |   |   | 12,534 |                       |   |                           | 6,149  |   | 49.1 |   |
| Brokerage                                           |   |   | 1,138   |   |   |   | 2,011  |                       |   |                           | (873   | ) | (43.4 | ) |
| Equipment rental                          |   |   | 944     |   |   |   | 1,114  |                       |   |                           | (170   | ) | (15.3 | ) |
| Total operating revenue                        |   |   | 92,107  |   |   |   | 85,842 |                       |   |                           | 6,265  |   | 7.3 |   |
|                                                |   |   |    |   |   |   |   |                       |   |                           |   |   |   |   |
| Operating expenses                                  |   |   | 100,889 |   |   |   | 91,404 |                       |   |                           | 9,485  |   | 10.4 |   |
| Loss from operations                                |   | $      | (8,782  | )      |   | $      | (5,562 | )                     |   | $                              | (3,220 | ) | 57.9 | % |
| Operating ratio (b)                                 |   |   | 109.5   | %      |   |   | 106.5  | %                          |   |                           |   |   |   |   |
|                                                |   |   |    |   |   |   |   |                       |   |                           |   |   |   |   |
| Total truckload revenue                             |   | $      | 45,141  |   |   | $      | 44,916 |                       |   | $                              | 225    |   | 0.5 | % |
| Less-than-truckload linehaul revenue                |   |   | 26,201  |   |   |   | 25,267 |                       |   |                           | 934    |   | 3.7 |   |
| Total linehaul and dedicated services revenue  |   | $      | 71,342  |   |   | $      | 70,183 |                       |   | $                              | 1,159  |   | 1.7 | % |
|                                                |   |   |    |   |   |   |   |                       |   |                           |   |   |   |   |
| Weekly average trucks in service                    |   |   | 1,774   |   |   |   | 1,751  |                       |   |                           | 23     |   | 1.3 | % |
| Revenue per truck per week (c)                      |   | $      | 3,128   |   |   | $      | 3,118  |                       |   | $                              | 10     |   | 0.3 | % |

| 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 |   |
|----------------------------------------------------------------------|--------|-----------------------------|--------|-------------------|--------|-----------------------|--------|
|                                                                 |   | 2011 vs 2010                |   | 2011 vs 2010      |   |   2011      |   |   |   2010  |   |
| Revenue                                                              |   | $                           | 6,265  |              | 7.3    | %                     | 100.0  |   |   | 100.0 | % |
|                                                                 |   |                        |   |              |   |                  |   |   |   |   |   |
| Operating Expenses                                                   |   |                        |   |              |   |                  |   |   |   |   |   |
|      Salaries, wages and related expenses   |   |                        | 1,351  |              | 4.8    |                  | 32.0   |   |   | 32.7 |   |
|      Purchased transportation               |   |                        | (1,901 | )                 | (10.5  | )                     | 17.6   |   |   | 21.1 |   |
|      Fuel                                   |   |                        | 6,623  |              | 41.8   |                  | 24.4   |   |   | 18.5 |   |
|      Supplies and maintenance               |   |                        | 2,009  |              | 18.9   |                  | 13.7   |   |   | 12.4 |   |
|      Revenue equipment rent                 |   |                        | (177   | )                 | (2.0   | )                     | 9.3    |   |   | 10.2 |   |
|      Depreciation                           |   |                        | 509    |              | 12.8   |                  | 4.9    |   |   | 4.6 |   |
|      Communications and utilities           |   |                        | 125    |              | 10.6   |                  | 1.4    |   |   | 1.4 |   |
|      Claims and insurance                   |   |                        | 475    |              | 16.8   |                  | 3.6    |   |   | 3.3 |   |
|      Operating taxes and licenses           |   |                        | (62    | )                 | (5.7   | )                     | 1.1    |   |   | 1.3 |   |
|      Gain on sale of property and equipment |   |                        | 332    |              | (100.3 | )                     | 0.0    |   |   | (0.4 | ) |
|      Miscellaneous                          |   |                        | 201    |              | 17.0   |                  | 1.5    |   |   | 1.4 |   |
| Total Operating Expenses                                             |   | $                           | 9,485  |              | 10.4   | %                     | 109.5  |   |   | 106.5 | % |

----

----

|                                                      |   | (in thousands)               |   |
|-----------------------------------------------------------|--------|------------------------------|--------|
|                                                      |   | Three Months Ended March 31, |   |
|                                                      |   | 2011                         |   |   | 2010 |   |
| Net cash flows (used in) provided by operating activities |   | $                            | (7,313 | ) |   | $ | 3,876 |   |
| Net cash flows provided by investing activities           |   |                         | 215    |   |   |   | 1,706 |   |
| Net cash flows provided by financing activities           |   |                         | 7,985  |   |   |   | 61 |   |
| Debt at March 31                                          |   |                         | 13,668 |   |   |   | - |   |

----

| Level |   | Ratio                                  |   | Base Rate Revolver Loans (other than Base Rate Equipment Loans) |   | LIBOR Revolver Loans (other than LIBOR Equipment Loans) |   | Base Rate Equipment Loans |   | LIBOR Equipment Loans |   |
|-------|--------|----------------------------------------|--------|-----------------------------------------------------------------|--------|---------------------------------------------------------|--------|---------------------------|--------|-----------------------|--------|
| I     |   | >2.00 to 1.00                  |   | 1.00 %                                                          |   | 2.00 %                                                  |   | 1.50 %                    |   | 2.50 %                |   |
| II    |   | > 1.15 to 1.00 and <2.00 to 1.00 |   | 1.25 %                                                          |   | 2.25 %                                                  |   | 1.75 %                    |   | 2.75 %                |   |
| III   |   | < 1.15 to 1.00                      |   | 1.50 %                                                          |   | 2.50 %                                                  |   | 2.00 %                    |   | 3.00 %                |   |

----

|                         |   | (in thousands) |    |
|------------------------------|--------|----------------|---------|
|                         |   | Total          |    |   | 2011 |   |   |   | 2012-2013 |   |   |   | 2014-2015 |   |   | After 2015 |   |
| Letters of credit            |   | $              | 5,095   |   |   | $ | 5,095 |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
| Purchase obligations         |   |           | 20,768  |   |   |   | 20,768 |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Operating leases obligations |   |           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Rentals                      |   |           | 82,447  |   |   |   | 23,424 |   |   |   | 37,405 |   |   |   | 10,121 |   |   |   | 11,497 |   |
| Residual guarantees          |   |           | 14,176  |   |   |   | 1,804 |   |   |   | 10,381 |   |   |   | 1,991 |   |   |   | - |   |
|                         |   | $         | 122,486 |   |   | $ | 51,091 |   |   | $ | 47,786 |   |   | $ | 12,112 |   |   | $ | 11,497 |   |

----

----

----

----

| Period        |   | Total Number of Shares Purchased(a) |   | Average Price Paid per Share(b) |   | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs(c) |   | Maximum Number (or Approximate Dollar Value) of Shares (or Units) that May Yet Be Purchased Under the Plans or Programs(d) |
|---------------|--------|-------------------------------------|--------|---------------------------------|--------|-------------------------------------------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------------------|
| January 2011  |   | -                                   |   | $                               | -      |                                                                                | -      |                                                                                                                       | 915,000 |
| February 2011 |   | 7,500                               |   |                            | 4.19   |                                                                                | 7,500  |                                                                                                                       | 907,600 |
| March 2011    |   | -                                   |   |                            | -      |                                                                                | -      |                                                                                                                       | 907,600 |
| Total         |   | 7,500                               |   | $                               | 4.19   |                                                                                | 7,500  |                                                                                                                       | 907,600 |

| 3.1    | Restated Articles of Incorporation of Frozen Food Express Industries, Inc. (filed as Exhibit 3(i) to Registrant Current Report on Form 8-K filed on May 29, 2007 and incorporated herein by reference).                                                                                                                                                        |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                           |
| 3.2    | Amended and Restated Bylaws of Frozen Food Express Industries, Inc., as amended (filed as Exhibit 99.1 to Registrant's Current Report on Form 8-K filed on March 3, 2011 and incorporated herein by reference).                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                           |
| 10.1   | Credit Agreement among Bank of America, N.A., as Administrative Agent, Collateral Agent and Issuing Bank and FFE Transportation Services, Inc., as borrower, and certain of its affiliates, dated as of March 28, 2011 (filed as Exhibit 10.24 to Registrant’s Annual Report on Form 10-K filed on March 30, 2011 and incorporated herein by reference). |
|   |                                                                                                                                                                                                                                                                                                                                                           |
| 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).                                                                                                                                                                                                               |

----

|                      |  FROZEN FOOD EXPRESS INDUSTRIES, INC. |
|---------------------------|--------------------------------------------|
|                      | (Registrant)                               |
|                      |                                       |   |
| Date: April 27, 2011 | /s/                                        | S. Russell Stubbs |
|                      |                                       | S. Russell StubbsPresident and Chief Executive Officer (Principal Executive Officer) |
|                      |                                       |   |
| Date: April 27, 2011 | /s/                                        | John McManama |
|                      |                                       | John McManamaSenior Vice President and Chief Financial Officer(Principal Financial and Accounting Officer) |

----

| 3.1    | Restated Articles of Incorporation of Frozen Food Express Industries, Inc. (filed as Exhibit 3(i) to Registrant Current Report on Form 8-K filed on May 29, 2007 and incorporated herein by reference).                                                                                                                                                        |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                           |
| 3.2    | Amended and Restated Bylaws of Frozen Food Express Industries, Inc., as amended (filed as Exhibit 99.1 to Registrant's Current Report on Form 8-K filed on March 3, 2011 and incorporated herein by reference).                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                           |
| 10.1   | Credit Agreement among Bank of America, N.A., as Administrative Agent, Collateral Agent and Issuing Bank and FFE Transportation Services, Inc., as borrower, and certain of its affiliates, dated as of March 28, 2011 (filed as Exhibit 10.24 to Registrant’s Annual Report on Form 10-K filed on March 30, 2011 and incorporated herein by reference). |
|   |                                                                                                                                                                                                                                                                                                                                                           |
| 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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