USA Truck Reports Lower Third Quarter 2016 Results
USA Truck, Inc. (NASDAQ:USAK), a leading capacity solutions provider, today announced that for the quarter ended September 30, 2016, operating revenue was $105.5 million compared to $123.5 million for the prior-year period. Base revenue, which excludes fuel surcharges, was $94.7 million compared to $109.8 million for the 2015 period.
Net income (loss) was ($0.7) million, or ($0.09) per diluted share, compared to $2.7 million, or $0.26 per diluted share, a year earlier. Included in earnings per share for the September 30, 2015 quarter was $2.9 million, or $0.17, net-of-tax, per share of restructuring costs.
President and CEO Randy Rogers commented, “We marked significant progress toward our goals of expanding the scope of USAT Logistics, improving service levels in our truckload business and reducing operating costs in the third quarter. Those gains were, and for the near term will likely be, offset by a weak freight environment and unfavorable comparisons versus prior periods due to the loss of certain dedicated account customers earlier this year.”
He continued, “While net revenue for the quarter of $6.0 million represented a 16.1% decline versus the 2015 period due to a soft freight environment and lower volumes, gross margin remained favorable at 18.1%.”
Category: Featured
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