USA Truck posts first quarterly profit in 3 years
Posted: July 31, 2014 at 7:40 a.m.
USA Truck on Thursday reported $722,000 in net income in the second quarter, which marked the first quarter in three years it had positive earnings.
The Van Buren-based trucking company said the second quarter earnings of 7 cents per share compared with a loss of 14 cents per share, or about $1.4 million, a year earlier.
The company noted this is the seventh straight quarter of "improved year-over-year financial results."
“While continuing the work of implementing our turnaround plan, the progress we are making is evident in virtually every area of our business," President and CEO John Simone said in a statement.
Earnings per share in the second quarter would be 20 cents if a $2.2 million charge for defense costs tied to an unsolicited takeover attempt by Knight Transportation are excluded, USA Truck said. It also reported base revenue increased 12.1 percent to $125 million in the period.
A conference call on the results is set for 8 a.m. It can be accessed by calling (800) 351-6807 and using access code 541247. A corresponding slide presentation will be posted online here. The call will be archived on the USA Truck website and a telephone replay will be available for 30 days by calling (877) 919-4059 and using access code 46088628.
Read tomorrow's Arkansas Democrat-Gazette for full details.