Performance of Trucking Firms' Stocks Ranges Wide

by Jan Cottingham  on Monday, Oct. 29, 2012 12:00 am  

In July, the company reported total net income for the second quarter of $11.8 million, or 44 cents per share, compared with net income of $5.3 million, or 20 cents per share, during the same quarter last year. Revenue reached $511 million, up 2 percent from $499 million in the second quarter of 2011.

But those results included two one-time items: a tax benefit of $8 million, or 31 cents per share, and transaction costs of $2.1 million, or 5 cents per share. The latter was associated with the company's June 15 acquisition of Panther Expedited Services Inc.
P.A.M., which released third-quarter results last week, posted its fourth consecutive quarterly profit. P.A.M.'s third-quarter net income was $880,907, or 10 cents per share, compared with a net loss of $1.7 million, or 19 cents per share, for third-quarter 2011.

Company President Daniel H. Cushman said P.A.M. had benefited from the diversification of its customer base.

USA Truck announced in July $103.5 million in revenue during the quarter ended June 30, a 4.6 percent drop compared with $108.5 million in revenue during the year-ago quarter.

The company lost $3.5 million, or 34 cents a share, for second-quarter 2012 versus a profit of $600,000, or 6 cents per share, during the second quarter of 2011.
Cliff Beckham, president and CEO of USA Truck, blamed a still weak U.S. economy for the weak showing. 



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