USA Narrows Loss on Higher Revenue
July 25, 2013
Arkansas-based USA Truck announced improved year-over-year financial results for the second quarter of the year.
The dry van truckload operation has revenue of $111.5, an increase of 7.7%, or $103.5 million for the same quarter of 2012. It reported a net loss of $1.0 million compared to a net loss of $3.5 million for the second quarter of last year.
Revenue increased 7.5% to $216.3 million for the six months ended June 30, 2013, from $201.3 million for the same period of 2012. During the same period it has a net loss of $3.5 million compared to a net loss of $8.4 million.
“Operating margins improved by 390 basis points year over year on 7.7% base revenue growth across our combined services, while operating costs increased only 3.7%, net of fuel surcharge recoveries,” said John Simone, president and CEO. “We reduced our net loss by 70%, marking our second consecutive quarter of material year-over-year improvement in operating results. We believe our turnaround plan gained traction during the June quarter, extending the year-over-year improvements in base revenue, operating income and net loss we achieved during the March quarter.”
More details are available on the USA Truck website.