USA Truck 4Q Income Down 63 Percent

USA Truck Inc. of Van Buren reported fourth-quarter income for fiscal 2018 of $5.3 million on Monday, down about 63 percent from the same quarter last year.

The income is a drop from the $14.2 million reported in the same quarter a year ago, but that number was the beneficiary of the federal tax cut that boosted it more than $10 million. USA Truck reported revenue growth for the quarter of $141.1 million, an increase of more than 14 percent from $123.3 million a year ago.

Earnings per share for the quarter was 64 cents, down from $1.84 a year ago.

For fiscal 2018, USA Truck reported revenue of $534.1 million, up from $446.5 million in 2017. Income for the year was $12.2 million, up from $7.5 million, and earnings per share was $1.47, up from 93 cents.

"I am pleased to report that our team successfully delivered a sixth-consecutive quarter of consolidated profitability and achieved several impressive milestones on our path to improved performance," USA Truck CEO James Reed said. "While we are proud of these results, management still believes significant opportunity exists to drive further improvements."

USA Truck's trucking division reported quarter revenue of $97.9 million and annual revenue of $347.8 million; both were increases from $83.8 million and $302.1 million a year ago. The company's logistics division reported quarterly revenue of $43.2 million and annual revenue of $186.3 million, also both increases rom $39.5 million and $144.5 million.

The trucking division reported increases in revenue per tractor per week. For the quarter, it was $3,447, up from $3,417, and for the year it was $3,394, up from $3,045.