8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report:

(Date of earliest event reported)

November 2, 2005

FROZEN FOOD EXPRESS INDUSTRIES, INC.

(Exact Name of Registrant as Specified in its Charter)

Texas (State or Other Jurisdiction of Incorporation)	1-10006 COMMISSION FILE NUMBER	75-1301831 (IRS Employer Identification No.)
1145 Empire Central Place Dallas, Texas 75247-4309 (Address of Principal Executive Offices)		(214) 630-8090 (Registrant's telephone number, including area code)

	Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
r	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
r	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
r	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
r	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01.

REGULATION FD DISCLOSURE

Attached hereto as Exhibit 99.1, which is incorporated herein by reference, is a copy of certain slides used by the Company in making a presentation at Stephens Inc.’s Logistics and Transportation Conference on November 2, 2005. This information furnished herewith, but is not “filed” pursuant to the Securities Exchange Act and is not incorporated by reference into any Securities Act registration statements. Additionally, the submission of this report on Form 8-K is not an admission as to the materiality of any information in this report that is required to be disclosed solely by Regulation FD. Any information in this report supersedes inconsistent or outdated information contained in earlier Regulation FD disclosures.

ITEM 9.01.	FINANCIAL STATEMENTS AND EXHIBITS
(c) EXHIBITS	The following are furnished as exhibits to this report:
99.1	Presentation materials dated November 2, 2005.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	FROZEN FOOD EXPRESS INDUSTRIES, INC.
Dated: November 2, 2005	By:	/s/ Stoney M. Stubbs, Jr.
		Stoney M. Stubbs, Jr. Chairman and Chief Executive Officer

EXHIBIT INDEX
Exhibit No.	Exhibit Title
99.1	Presentation materials dated November 2, 2005.

EX-99.1

0

November 2005

Stephens Inc.

Investment Bankers

Logistics and Transportation Services Conference

November 2, 2005

Frozen Food Express Industries,
Inc. and Subsidiaries

F. Dixon McElwee, Jr.

Senior Vice President & Chief Financial Officer

November 2005

2

      This document contains information and forward-looking statements that are based on management's current beliefs and expectations and assumptions which are based upon information currently available. Forward-looking statements include statements relating to plans, strategies, objectives, expectations, intentions, and adequacy of resources, and may be identified by words such as "will", "could", "should", "believe", "expect", intend", "plan", "schedule", "estimate", "project" and similar expressions. These statements are based on current expectations and are subject to uncertainty and
change.

      Although management believes that the expectations reflected in such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized. Should one or more of the risks or uncertainties underlying such expectations not materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected.

      Among the key factors that are not within management's control and that may have a bearing on operating results are demand for the company's services and products, and its ability to meet that demand, which may be affected by, among other things, competition, weather conditions and the general economy, the availability and cost of labor, the ability to negotiate favorably with lenders and lessors, the effects of terrorism and war, the availability and cost of equipment, fuel and supplies, the market for previously-owned equipment, the impact of changes in the tax and regulatory environment in which the company operates, operational risks and insurance, risks associated with the technologies and systems used and the other risks and uncertainties described in the company's filings with the Securities and Exchange Commission.

Safe Harbor Statement

November 2005

3

Company Information

p    Leading publicly traded refrigerated trucking
 company in the U.S.

p  Headquartered in Dallas, Texas

p  Publicly traded on Nasdaq National Market (FFEX)

p  2004 freight revenue of $465 Million

p  2,314 trucks

p  70/30 company-owned/owner-operator

November 2005

4

Investment Considerations

p  Industry dynamics create new opportunities

p  Key player in a capacity constrained environment

p  Competitively differentiated by our diversified service offerings

p  Unique flexibility to allocate resources from TL to LTL

p    Opportunity to expand margins as evidenced by recent
 performance

p  Strong cash flows and healthy balance sheet

November 2005

5

45%

5%

Total Revenue $465M

2004 Freight Revenue Mix

November 2005

6

Refrigerated Truckload Revenue Mix 2004

November 2005

7

Key Industry Factors

q  Industry-wide driver shortage

q  Increasing barriers to entry

q  High operating costs (drivers, fuel, insurance)

q  Higher pricing and increased utilization

q  Increasing Emphasis on Economics of Scale

q    Fewer carriers - $1 billion less capacity in the full-truckload  
 refrigerated market

q  Consolidation continues

November 2005

8

Consolidated Sector
Refrigerated Full Truckload Bankruptcies

p  Rocor International, 4^th largest @ $341 million in revenue.

p    Ameritruck Distribution, 5^th largest @ $300 million in
 revenue.

p    Dick Simon Trucking, 7^th largest @ $210 million in
 revenue.

p  Aasche Transportation, 10^th largest @ $154 in revenue.

p    More than $1 billion capacity taken out of the full-truckload
 refrigerated market in less than 5 years.

p  In addition…

n    Alterman Transport Lines, $68 million, the only nationwide
 refrigerated LTL competition to Frozen Food Express.

November 2005

9

Source: Refrigerated Transporter, September 2005

“P”= Publicly traded company

P

P

 $8-$9 billion sector; Top Ten comprise $3.7 billion

Competitive Landscape 2005

p Transport Industries Holdings, @ $560 million

p Prime, Inc., @ $522 million. 

p C.R. England, @ $508 million.

p Frozen Food Express Industries, Inc, @ $474 million.

p Marten Transport, @$380 million.

p Stevens Transport, @ $368 million.

p KLLM, Inc., @ $265 million.

p Central Refrigerated Service, @ $228 million.

p Shaffer Trucking, @$209 million.

p Navajo Shippers, @$168 million.

November 2005

10

Key Player in a
Capacity Constrained Environment

   FFEX truckload revenue per mile in 2004 and 2005:

November 2005

11

Unique Resources

p    One-stop solution with refrigerated TL (46%), refrigerated LTL
 (29%), and dry van TL (20%)

p  Only national LTL carrier

n  12 terminals; 8 recruiting centers/offices

n  Scheduled routes and service

p  Serving a broad range of freight categories

p  Limited customer concentration

n  No customers make up 10% of revenue

n  Top 20 customers make up 40% of revenue

n  Remaining 3,000 customers make up the remainder

November 2005

12

Balance Sheet @ September 30, 2005

p  Cash = $7.8mm

p  Total Assets = $182.6 million

p  No Debt

p  Shareholder Equity = $112.2 million

Note: $30 million of annual rental expense from
operating leases.

November 2005

13

⁽¹⁾ Free Cash Flow is defined as FFEX after-tax cash generated by
operations available to return to investors after capital expenditures.

Cash Flow

November 2005

14

Uses of Free Cash Flow

p  Purchase more Equipment

p  Repurchase Stock

p  Accretive Acquisitions

November 2005

15

OPPORTUNITY:  1% improvement in Operating Ratio equates
to $5 million pre-tax income or 16 cents per diluted share.

Management Initiatives to Drive Profitability

p  Reduce Driver Turnover

p  Enhance Freight Network

p  Cost Containment

p  Expand High Margin Service Offerings

November 2005

16

Initiative No. 1
Reduce Driver Turnover

p    Increase driver awareness and open
 communication

p  Programs to mitigate impact of HOS

n  General pay increases

n  Re-structured bonus programs

n  Per-diem adjustments

p    Currently 95% and goal is to reduce by a
 third

November 2005

17

Initiative No. 2
Freight Network Discipline

p  Maintain discipline with customer lanes and drivers

p    Requires network planning and freight selection to
 target maximum profitability

p    This initiative reduces empty mile inefficiency and
 increases compensated miles

November 2005

18

Initiative No. 3
Cost Containment

p  Freight terminal profitability reviews

p  Improve back office operational efficiencies

p  Overall reduction in SG&A spending levels

p  Improve our Tractor to Non-Driver ratio

November 2005

19

Initiative No. 4
Expand High Margin Business

p    Focus on growing intermodal transportation
 services and dedicated services group

p  Upside potential of 10-12% top line growth

p  Concentrate on revenue mix through fleet rotation

November 2005

20

Double Digit

Top Line Growth

Acquisition

-Opportunities

Logistics

-Industry demand v.

asset capacity

Disciplined Freight Network

-Tighter Network

-Optimizer Software

-Increase Equipment Utilization

Expanding Margins

-Higher Margin Services

-SG&A Productivity

-Driver & non-driver ratio

Growth Engines

November 2005

21

	Stoney M. Stubbs, Jr. Chief Executive Officer
F. Dixon McElwee, Jr. Chief Financial Officer		Charles G. Robertson Chief Operating Officer

Frozen Food Express Industries, Inc.

1145 Empire Central Place

Dallas, Texas 75247-4309

P.O. Box 655888

Dallas, Texas 75265-5888

(214) 630-8090

http://www.ffex.net

cfo@ffex.net

Contact Information