John Simone, president and CEO of USA Truck Inc. of Van Buren.
USA Truck Inc. of Van Buren reported its most profitable quarter in eight years Monday.
The company said net income reached $2.7 million, a significant improvement from a $600,000 loss in the same quarter a year ago. It is USA Truck’s second consecutive profitable quarter after not having had one since 2011.
USA Truck reported earnings per share of 26 cents, 16 cents more than analysts’ estimates and an improvement from a loss of 6 cents in the same quarter a year ago.
For the year, USA Truck is up $1.85 million compared to a $4.4 million loss for the same nine-month period of 2013. USA Truck has posted five consecutive annual losses.
The company reported third-quarter revenue of $153.6 million, an increase of 8.3 percent from the same quarter a year ago.
Base revenue, before fuel surcharges, rose 10.6 percent to $125.9 million. The company’s Strategic Capacity Solutions division led the way with base revenues of $39.9 million, a 24.2 percent increase from the same quarter a year ago.
“Both our Trucking and asset-light Strategic Capacity Solutions (SCS) businesses realized revenue gains and positive operating income, a direct outcome of our intense focus on operational effectiveness, while also benefiting from today’s strong demand environment,” CEO John Simone said in a news release.
Simone said the improved financials helped the company pay off $11 million in debt during the quarter.
Sign up for Daily E-news
