Less-than-truckload carrier Saia said it's not overly concerned with lumpy financial performance quarter-to-quarter as it builds out a national network through terminal acquisitions. It's more focused on the long-term viability of the company and the returns that can be generated now serving all 48 contiguous states.

Saia (NASDAQ: SAIA) missed expectations in the third quarter Friday, reporting earnings per share of $3.46. The result was 7 cents below consensus estimates and 21 cents lower year-over-year.

"These investments were never about the current quarter, next quarter, or even next year, but an opportunity to transform our presence and positioning for the future," said Fritz Holzgrefe, Saia president and CEO, on Friday's call with analysts.

The carrier opened 11 new terminals and relocated one facility during the third quarter. It has opened 18 new service centers so far this year and three more in the fourth quarter. The 21 new locations are part of an expansion program that also includes relocating some terminals to larger and better-positioned spaces.

The company said it will close the year operating 214 service centers, noting that some of the new sites can be enlarged to handle more volume if the market turns.

It acquired 28 terminals from bankrupt Yellow Corp.