8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 14, 2005

USA TRUCK, INC.

(Exact name of registrant as specified in its charter)

Delaware	0-19858	71-0556971
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

3200 Industrial Park Road Van Buren, Arkansas	72956
(Address of Principal Executive Offices)	(Zip Code)

(479) 471-2500

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition

        On July 14, 2005, the Registrant issued a news release announcing its revenues and earnings for the first quarter of 2005. A copy of the news release is furnished as an exhibit to this Form 8-K. This Form 8-K and the attached exhibit are furnished to but not filed with the Securities and Exchange Commission.

Item 9.01 Financial Statements and Exhibits

(c) Exhibits

99.1 News release issued by the Registrant on July 14, 2005

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	USA Truck, Inc.
	(Registrant)
Date: July 15, 2005	/s/ ROBERT M. POWELL
	Robert M. Powell
	Chairman and Chief Executive Officer
Date: July 15, 2005	/s/ JERRY D. ORLER
	Jerry D. Orler
	President
Date: July 15, 2005	/s/ CLIFTON R. BECKHAM
	Clifton R. Beckham
	Sr. Vice President - Finance, Chief
	Financial Officer and Secretary

INDEX TO EXHIBITS

Exhibit Number	Exhibit
99.1	News release issued by the Registrant on July 14, 2005

EX-99

Exhibit 99.1

FOR IMMEDIATE RELEASE

VAN BUREN, ARKANSAS JULY 14, 2005

USA Truck, Inc. (NASDAQ: USAK) today announced record quarterly base revenue of $93.5 million for the quarter ended June 30, 2005, an increase of 9.0% from $85.8 million for the same quarter of 2004. Net income increased 223.7% from $1.3 million for the quarter ended June 30, 2004, to $4.3 million for the same quarter of 2005. Diluted earnings per share increased 221.4% from $0.14 for the quarter ended June 30, 2004, to $0.45 for the same quarter of 2005. This quarter represents our strongest performance in six years, as we produced an operating ratio of 89.9%, and our base revenue, net income, and diluted earnings per share were all higher than for any previous quarter in our public history.

Base revenue increased 11.3% from $165.3 million for the six months ended June 30, 2004 to $184.0 million for the same period of 2005. Net income increased 202.6% from $2.3 million for the six months ended June 30, 2004 to $7.1 million for the same period of 2005. Diluted earnings per share increased 196.0% from $0.25 for the six months ended June 30, 2004 to $0.74 for the same period of 2005.

The following table summarizes the earnings information of USA Truck, Inc. (“Company”):

(in thousands, except per share amounts)

	Three Months Ended June 30,						Six Months Ended June 30,
	2005			2004			2005			2004
Revenue:
Base revenue	$	93,536		$	85,800		$	183,977		$	165,306
Fuel surcharge revenue		13,876			5,834			24,478			9,931
Total revenue		107,412			91,634			208,455			175,237
Operating expenses and costs:
Salaries, wages and employee benefits		35,210			31,964			69,636			61,725
Fuel and fuel taxes		28,123			19,233			53,843			37,163
Depreciation and amortization		10,299			8,805			20,212			17,244
Insurance and claims		6,543			7,532			13,207			12,373
Purchased transportation		6,069			7,890			12,538			14,449
Operations and maintenance		4,974			6,721			10,474			13,576
Operating taxes and licenses		1,562			1,490			3,051			2,800
Communications and utilities		788			655			1,542			1,440
Gain on disposal of revenue equipment, net		(319	)		(60	)		(681	)		(101	)
Other		4,746			3,698			9,461			7,014
Total operating expenses		97,995			87,928			192,449			168,517
Operating income		9,417			3,706			16,006			6,720
Other expenses (income):
Interest expense		1,426			773			2,727			1,488
Other, net		7			19			(2	)		11
Total other expenses, net		1,433			792			2,725			1,499
Income before income taxes		7,984			2,914			13,281			5,221
Income tax expense		3,649			1,575			6,212			2,885
Net income	$	4,335		$	1,339		$	7,069		$	2,336
Per share information:
Average shares outstanding (Basic)		9,280			9,274			9,267			9,302
Basic earnings per share	$	0.47		$	0.14		$	0.76		$	0.25
Average shares outstanding (Diluted)		9,563			9,389			9,552			9,385
Diluted earnings per share	$	0.45		$	0.14		$	0.74		$	0.25

Key Operating Statistics:

	Three Months Ended June 30,						Six Months Ended June 30,
	2005			2004			2005			2004
Total miles (in thousands) (1)		71,638			65,958			141,049			128,277
Empty mile factor		8.7	%		8.0	%		8.7	%		8.4	%
Base revenue per total mile	$	1.306		$	1.301		$	1.304		$	1.289
Average number of tractors (2)		2,337			2,177			2,293			2,140
Average miles per tractor		30,654			30,298			61,513			59,943
Average miles per tractor per week		2,395			2,405			2,441			2,360
Average miles per trip (3)		796			846			804			839
Operating ratio (4)		89.9	%		95.7	%		91.3	%		95.9	%
Average unmanned tractor percentage(5)		3.4	%		5.7	%		3.0	%		5.6	%

(1) Total miles include both loaded and empty miles.

(2) Average number of tractors includes company-operated tractors plus owner-operator tractors.

(3) Average miles per trip is derived from shipments in which our own tractors, or owner operators, transport our customers’ freight (excludes third party logistics and freight brokerage shipments).

(4)	Operating ratio is based upon total operating expenses, net of fuel surcharge, as a percentage of base revenue.
(5)	Unmanned tractor percentage is the average percentage, for each month end during each period, of company-operated tractors to which a driver is not assigned.

In comparing the financial results of the three months ended June 30, 2005 to the three months ended June 30, 2004, Robert M. Powell, Chairman and CEO of the Company, made the following statement:

This quarter represents our strongest performance in six years. In addition to our record revenue and net income, we have posted an operating ratio below 90% for the first time since the second quarter of 1999. That is an important step toward our ultimate goal of 88% or better.

Freight demand remained strong throughout the quarter, though not as strong as a year ago. Continued solid freight demand made it possible for us to increase the base revenue per mile for our traditional freight operations in which we used our own tractors by 3.5%, which, along with 7.3% growth in our tractor fleet, paved the way for the record base revenue.

Over the past several years, we have meticulously benchmarked our operating statistics against those of 1998, which is a year that produced some of the strongest operating statistics in our public history. This benchmarking program continues to yield benefits. The program’s 2005 focus has been on insurance and claims costs, fleet maintenance costs and tractor utilization. As a result of our improved safety prevention and claims management programs and our current eight-quarter fleet modernization efforts, insurance and claims costs were down 13.1% and operations and maintenance costs were down 26.0%, despite an 8.6% increase in fleet miles. Tractor utilization was flat this quarter but is up 3.4% for the first six months of 2005 compared to the same periods in 2004. Maintenance costs, measured as cost per mile, have now returned to their benchmark levels and we believe that we have implemented the necessary processes to return insurance and claims costs, measured as percent of revenue, and tractor utilization to their benchmark levels. We are focused on executing those processes and we are using our benchmarking program to develop the next generation of margin improvement initiatives now that we have achieved the sub-90% operating ratio milestone.

We are proud of our performance this quarter, but we are not satisfied. In addition to the margin pressures identified by our benchmarking program, we are facing the additional challenges of a tight driver market, high oil prices and a difficult regulatory environment. However, we believe that our management team has the experience and resources necessary to meet those challenges and we look forward to taking them on in the coming quarters.

This press release contains forward-looking statements and information that are based on our current beliefs and expectations and assumptions we have made based upon information currently available. Forward-looking statements include statements relating to our plans, strategies, objectives, expectations, intentions and adequacy of resources, and may be identified by words such as “will,” “could,” “should,” “may,” “believe,” “expect,” “intend,” “plan,” “schedule,” “estimate,” “project” and similar expressions. These statements are based on current expectations and are subject to uncertainty and change. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will be realized. If one or more of the risks or uncertainties underlying such expectations materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. Among other things, we cannot assure you that we will be able to maintain the tractor utilization rates and revenue per mile discussed in this press release, or that we will be able to continue to improve or effectively control operations and maintenance expenses and insurance and claims costs or effectively manage our fuel surcharge program. Among the key factors that are not within our control and that have a direct bearing on operating results are increases in fuel prices, adverse weather conditions, increased regulatory burdens and the impact of increased rate competition. Our results have also been, and will continue to be, significantly affected by fluctuations in general economic conditions, as our tractor utilization is directly related to business levels of customers in a variety of industries. In addition, shortages of qualified drivers and intense or increased competition for drivers have adversely impacted our operating results and our ability to grow and will continue to do so. Results for any specific period could also be affected by various unforeseen events, such as unusual levels of equipment failure or vehicle accident claims. Additional risks associated with our operations are discussed in our SEC filings, including our annual report on Form 10-K and our quarterly reports on Form 10-Q.

All forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by this cautionary statement.

We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this press release might not occur.

References to the “Company,” “we,” “us,” “our” and words of similar import refer to USA Truck, Inc. and its subsidiary.

USA Truck is a medium haul, dry van truckload carrier transporting general commodities throughout the continental United States and between locations in the United States and Canada. We transport general commodities into Mexico by allowing through-trailer service on our trailers through our facility in the gateway city of Laredo, Texas. We also provide third-party logistics and freight brokerage services.

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Contact: CLIFF BECKHAM, Chief Financial Officer - (479) 471-2633