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USA Truck Swings to Profit in 4Q, Caps ‘Transformative’ Year

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USA Truck Inc. of Van Buren on Wednesday reported a fourth-quarter profit of $4.2 million, up from a $4.6 million loss in the same quarter last year.

The results capped a year that President and CEO John Simone called “transformative.” It marked the company’s ninth consecutive quarter of improved results, its third straight quarter of positive operating income and its highest quarterly earnings per share in more than nine years.

The transportation and logistics firm, which at this time last year had finally repelled a takeover attempted by a rival firm, reported diluted earnings per share of 40 cents, up from a loss of 45 cents in the same quarter of 2014.

Revenue topped $150 million, up from $141 million in the same quarter last year.

For the year, USA Truck reported net income of $6 million, up from a loss of $9 million for 2013. Diluted earnings per share reached 58 cents, up from a loss of 88 cents.

In a news release, the company also cited fourth-quarter base revenue of $125.8 million, up nearly 11 percent from the same time last year. Quarterly operating income was $8.6 million, up from a loss of $4.7 million.

The company also said its Trucking and Strategic Capacity Solutions businesses performed well in the quarter amid “robust demand,” “favorable fuel prices” and improvement in revenue per tractor.

“We are pleased to have ended 2014 on such a strong note and believe our results for the year demonstrate that we continue to make strong progress on the execution of our turnaround plan,” Simone said. “We will continue to focus on further improving the utilization of our resources, streamlining our processes and more fully achieving the potential of our business model, where we have substantial leverage still to realize.”

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