USA Truck Inc. of Van Buren reported third-quarter income of $409,000 on Thursday.
The profit snapped a streak of six consecutive quarters of losses and represented an improvement from the $734,000 loss in the third quarter of 2016. USA Truck reported revenue of $114.2 million, an improvement from the $105.5 million in the same quarter of 2016.
Earnings per share was 5 cents, an increase from the same quarter a year ago which was a loss of 7 cents a share.
“We believe these results show that we are capable of making and keeping our commitments to progress,” USA Truck CEO James Reed said in a news release. “We expect to improve results through disciplined network management and pricing, enhanced partnership with customers and improved execution in our day-to-day operations, in conjunction with our ongoing safety initiatives.”
Reed said the quarterly profit was a positive but the company’s turnaround was just beginning. He said he expects continued improvement in fiscal year 2018.
USA Truck’s trucking division reported revenue of $76.4 million, an increase from $73.4 million in the same quarter a year ago. Total miles dropped to 41.1 million from 43.4 million, but revenue per loaded mile increased to $1.856 from $1.725.
The division reported an operating income loss of $1.2 million, compared to $1.5 million a year ago. The company blamed the income loss on higher diesel prices and driver recruiting expenses.
The company’s logistics division reported revenue $37.7 million, up from $32.1 million in the same quarter a year ago.
Sign up for Daily E-news
