USA Truck Nearly Breaks Even in Third Quarter
October 17, 2013
The Arkansas-based fleet USA Truck has improved financial results for the third quarter and the first nine-months of the year.
Total base revenues increased 13.5% to $113.9 million for the quarter from $100.3 from the same time a year earlier. Asset-based trucking revenue, not including fuel surcharge, increased 13.6% to $81.8 million, while its non-asset based logistics business revenue rose 13.1% to $32.1 million.
It had a net loss of $0.6 million for the quarter compared to a net loss of $6.1 million for the 2012 quarter. Diluted net loss per share improved 90.1% from 59 cents in the third quarter of 2012 to 6 cents in the third quarter of 2013.
For the first nine-months of the year USA truck had a net loss of $4.5 million, or 43 cents per share, compared to a net loss of $14.4 million or $1.40 per share for the comparable 2012 period.
"The continued, accelerating improvement in our results clearly illustrates the rapid progress we're making in our turnaround," said President and CEO John Simone. "The third quarter of 2013 marked our fourth consecutive quarter of substantially improved operating and bottom-line results.
USA Truck has been the takeover target by competitor Knight Transportation. It has said it has no interest in being acquired by the Arizona-based fleet, with both involved in a war-of-words with USA Truck last week filing suit against Knight.
More details about its financial performance are available on the USA Truck website.