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USA Truck Reports Quarterly Revenue Record

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USA Truck Inc. of Van Buren reported Thursday second-quarter revenue of $170 million, which the company said was an all-time best.

The figure was an increase from $123.7 million in the second quarter of fiscal 2020.

Income for the quarter was $4.19 million; the company swung back from the loss of $931,000 in the same quarter a year ago. Earnings per share was 47 cents, up from a loss of 11 cents a year ago.

“For the fourth straight quarter, USA Truck produced the best quarterly EPS in the company’s history for that respective quarter,” CEO James Reed said. “We also set an all‒time quarterly revenue record of $170 million during the quarter. We are proud of these results, the progress they represent, and the team that worked so hard to achieve them, while acknowledging that we still have much higher goals to achieve and better results that we believe we can produce.”

The trucking segment reported revenue of $105.4 million for the quarter, an increase from $88.6 million a year ago. Revenue per truck per week was $3,735, up from $3,003 in the same quarter a year ago.

The logistics division reported revenue of $78.7 million, an increase from $38.7 million a year ago. The company reported operating income of $3.9 million, up from a loss of $176,000 a year ago.

“While the pricing environment remains strong, our results also reflect the outcome of structural changes within our business around our network, operational execution, and cultural transformation,” Reed said. “However, despite the improvements in our operational execution the driver market remains extremely difficult to recruit in but, counter-intuitively, our retention is better than it has ever been. Equipment delivery schedules have slipped and that has affected our fleet age and costs performance, but profitability has improved.”

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