by Chris Bahn
Posted 5/8/2013 10:58 am
Updated 1 year ago
VAN BUREN — Shareholders of USA Truck Inc. of Van Buren re-elected chairman Robert A. Peiser and Robert E. Creager to the board of directors during the company’s annual meeting on Wednesday.
In addition to extending Peiser's and Creager's terms through 2016, the shareholders offered non-binding advisory approval of compensation for USA Truck executives. Peiser was appointed board chairman in November and has been on the board since February 2012. Creager joined the board in November.
Once officially called to order by Peiser, the meeting lasted less than seven minutes. About 30 people attending the meeting, and 80.1 percent of shareholders votes were accounted for in voting.
New CEO John Simone was introduced to shareholders, but did not make public comments. Simone, announced Feb. 18 as the company's new leader, conducted USA Truck's first-quarter conference call earlier this week.
For the first quarter, USA Truck (Nasdaq: USAK) reported revenue of $105 million, up 7 percent from the same period in 2012. Still, the company reported a loss of $2.5 million or 24 cents per share. It was an improvement from a $4.9 million first-quarter loss — 47 cents per share — in 2012.
"We expect to build upon that foundation and momentum by adding greater clarity, focus and execution," Simone said on Monday. "Our strategy: return to profitability and restore shareholder value through operational excellence, profitable revenue growth and cost efficiencies."