Arkansas carrier USA Truck Inc. has announced record base revenue of $99.6 million for its second quarter ended June 30, 2006 – an increase of 6.5 percent from $93.5 million for the same quarter of 2005.
Net income increased 0.6 percent from $4.3 million for the quarter ended June 30, 2005 to a record $4.4 million for the same quarter of 2006. Diluted earnings per share decreased 15.6 percent from $0.45 for the quarter ended June 30, 2005 to $0.38 for the same quarter of 2006.
Base revenue increased 6.8 percent from $184.0 million for the six months ended June 30, 2005 to $196.4 million for the same period of 2006. Net income increased 10.4 percent from $7.1 million for the six months ended June 30, 2005 to $7.8 million for the same period of 2006. Diluted earnings per share decreased 9.5 percent from $0.74 for the six months ended June 30, 2005 to $0.67 for the same period of 2006.
Robert M. Powell, chairman and CEO of the Company, said, “Although freight demand for the full quarter was not as robust as a year ago, freight volumes steadily improved throughout the quarter from a very soft environment in April to a strong one in June. As freight demand improved, so did our financial performance. Our empty mile factor climbed 1.2 percentage points and our tractor utilization (miles per tractor per week) was down 3.2 percent due to softer freight demand as compared to last year, a greater number of unmanned tractors and the effects of tightened U.S. Department of Transportation hours of service rules that further limit our drivers' productivity. We are working to close the gap
on both empty miles and tractor utilization and we are encouraged by the improving demand for freight we experienced as the quarter progressed.”
Net income increased 0.6 percent from $4.3 million for the quarter ended June 30, 2005 to a record $4.4 million for the same quarter of 2006. Diluted earnings per share decreased 15.6 percent from $0.45 for the quarter ended June 30, 2005 to $0.38 for the same quarter of 2006.
Base revenue increased 6.8 percent from $184.0 million for the six months ended June 30, 2005 to $196.4 million for the same period of 2006. Net income increased 10.4 percent from $7.1 million for the six months ended June 30, 2005 to $7.8 million for the same period of 2006. Diluted earnings per share decreased 9.5 percent from $0.74 for the six months ended June 30, 2005 to $0.67 for the same period of 2006.
Robert M. Powell, chairman and CEO of the Company, said, “Although freight demand for the full quarter was not as robust as a year ago, freight volumes steadily improved throughout the quarter from a very soft environment in April to a strong one in June. As freight demand improved, so did our financial performance. Our empty mile factor climbed 1.2 percentage points and our tractor utilization (miles per tractor per week) was down 3.2 percent due to softer freight demand as compared to last year, a greater number of unmanned tractors and the effects of tightened U.S. Department of Transportation hours of service rules that further limit our drivers' productivity. We are working to close the gap
on both empty miles and tractor utilization and we are encouraged by the improving demand for freight we experienced as the quarter progressed.”
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