USA Truck Reports First Profit in Three Years
USA Truck Inc. reported its first quarter of positive income in three years on improved revenue, especially in its logistics business.
Net income increased to $700,000, or 7 cents per share, from a loss of $1.4 million, or 14 cents, a year ago.
The truckload carrier’s revenue rose 12.1% to $125 million. Trucking revenue, excluding fuel surcharge, increased 2.2% to $83.2 million.
Profitability improved 39.1% to $41.8 million in the logistics unit known as strategic capacity solutions and accounted for more than a third of consolidated base revenue.
“We are encouraged by the accomplishments made possible by the disciplined execution of our strategic plan. Although the shortage of drivers and more restrictive hours-of-service rules continue to present challenges for our industry, the demand and pricing environment in the truckload marketplace is healthy, and we believe our 2014 goals of positive consolidated operating income and adjusted EPS are achievable,” President and CEO John Simone said in a statement.
USA Truck ranks No. 50 on the Transport Topics Top 100 list of the largest U.S. and Canadian for-hire carriers.
