USA Truck Expands Loss in 4Q
Truckload carrier USA Truck Inc. said it lost more money in the fourth quarter than the same period last year, but its earnings improved on a full-year basis.
USA Truck’s loss grew to $4.6 million, or 45 cents a share, from $3.2 million, or 31 cents, in the same period the previous year, the company said. Feb. 11. Revenue grew to $141.4 million from $134.8 million.
For the full year ended Dec. 31, USA Truck narrowed its loss to $9.1 million from $17.7 million in 2012. Revenue improved as well, growing to $555 million from $512.4 million.
USA Truck said its operating income, after adjusting for a charge related to its long-term claims liability reserve, was $1.3 million in the fourth quarter, the first time it has been positive since 2011.
“Our strengthening operating results represent another solid step towards returning to profitability and further enhancing shareholder value. We are especially encouraged by our sustained sequential quarterly improvements throughout 2013, which ran counter to the historical seasonal patterns in our business,” CEO John Simone said in a statement.
USA Truck is ranked No. 52 on the Transport Topics Top 100 list of for-hire carriers in the United States and Canada.
