USA Truck Reports 2Q Loss
Truckload carrier USA Truck reported a second-quarter loss of $1.1 million, or 11 cents per share, compared with net income of $2.1 million, or 21 cents, a year ago.
Total revenue fell to $92.4 million, from $146.1 million, while trucking revenue fell to $77.9 million, from $99.4 million, the company said in a statement.
The company said its intermodal service was profitable and that the unit’s base revenue nearly doubled, growing 184% to $1.8 million for the quarter.
“Freight conditions have steadily deteriorated since the current freight depression began in the second half of 2006,” Clifton Beckham, the company’s chief executive officer, said in a statement.
“Freight availability remains at historically low levels and pricing competition has been fierce as excess tractor capacity, buoyed by lenient lenders and lower fuel prices, continues to exist in the marketplace,” he said.
USA Truck is ranked No. 50 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
