-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RBZrDCKagdN8MZPC5BzKGoMCP4aysxAB19JHMjh3YbaSH9Bl7FpDKEE4qZLsEOlL POBmVEEwaTFvz0KXZ9SS8Q== 0000883945-07-000110.txt : 20071018 0000883945-07-000110.hdr.sgml : 20071018 20071018170913 ACCESSION NUMBER: 0000883945-07-000110 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20070930 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071018 DATE AS OF CHANGE: 20071018 FILER: COMPANY DATA: COMPANY CONFORMED NAME: USA TRUCK INC CENTRAL INDEX KEY: 0000883945 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 710556971 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-19858 FILM NUMBER: 071179377 BUSINESS ADDRESS: STREET 1: 3200 INDUSTRIAL PARK ROAD CITY: VAN BUREN STATE: AR ZIP: 72956 BUSINESS PHONE: 479-471-2500 MAIL ADDRESS: STREET 1: 3200 INDUSTRIAL PARK ROAD CITY: VAN BUREN STATE: AR ZIP: 72956 8-K 1 form_8k-20071018.htm

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):          October 18, 2007

 


 

USA TRUCK, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

(State or Other Jurisdiction of Incorporation)

 

 

0-19858

71-0556971

(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)

 

 

 

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:

 

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

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

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

o 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 October 18, 2007, the Registrant issued a news release announcing its revenues and earnings for the third quarter of 2007. A copy of the news release is furnished as an exhibit to this Form 8-K. This Item 2.02 and the attached exhibit are furnished to but not filed with the Securities and Exchange Commission.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1  News release issued by the Registrant on October 18, 2007.

 

 

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:

October 18, 2007

 

/s/ Clifton R. Beckham

 

 

 

Clifton R. Beckham

 

 

 

President and Chief Executive Officer

 

 

 

 

Date:

October 18, 2007

 

/s/ Darron R. Ming

 

 

 

Darron R. Ming

 

 

 

Vice President, Finance, Chief Financial Officer and Treasurer

 

 

 

 

 

 

INDEX TO EXHIBITS

 

Exhibit

Number

 

Exhibit

 

99.1

News release issued by the Registrant on October 18, 2007

 

 

 

EX-99 2 pressrelease_10182007.htm

FOR IMMEDIATE RELEASE

VAN BUREN, ARKANSAS October 18, 2007

USA Truck, Inc. (NASDAQ: USAK) today announced base revenue of $99.3 million for the third quarter ended September 30, 2007, an increase of 2.7% from $96.7 million for the same quarter of 2006. Net income decreased 99.5% from $3.4 million for the quarter ended September 30, 2006 to $16 thousand for the same quarter of 2007. Diluted earnings per share decreased from $0.30 for the quarter ended September 30, 2006 to $0.00 for the same quarter of 2007.

Base revenue increased 0.8% from $293.1 million for the nine months ended September 30, 2006 to $295.5 million for the same period of 2007. Net income decreased 84.7% from $11.2 million for the nine months ended September 30, 2006 to $1.7 million for the same period of 2007. Diluted earnings per share decreased 83.5% from $0.97 for the nine months ended September 30, 2006 to $0.16 for the same period of 2007.

In comparing the financial results of the three months ended September 30, 2007 to the comparable period of 2006, Cliff Beckham, President and CEO, made the following statement:

“The current freight environment continues as one of the most challenging we have ever seen. For the second consecutive year, we have experienced virtually no fall peak shipping season. That soft freight demand, an adverse jury verdict in a contract dispute and high fuel prices were the dominant influences on our earnings during the quarter.

“Our base revenue increased 2.7%. Trucking revenue increased 2.5% as our average tractor count grew by 2.3% (but actually declined slightly sequentially from the second quarter). Our increased focus on non-asset based services bore fruit as USA Logistics revenue, particularly our Strategic Capacity Solutions division (Freight Brokerage), increased 13.0%.

“Competitive pressures eroded our base revenue for the quarter by almost $0.03 per loaded mile (2.0%), and base revenue per total mile decreased approximately $0.04 (2.9%) as our empty mile factor (historically a strong indicator of freight availability) increased by 0.87 percentage points. We expect pricing and freight availability to remain competitive in the near-term due to the continued over-capacity of tractors in the industry relative to freight demand.

“Despite the current freight conditions, we continue to focus our efforts on the fundamentals of our business with some signs of progress. In particular, our driver turnover improved by nearly 45 percentage points year-over-year. The dramatic improvement in driver turnover over the past year has contributed significantly to fewer unmanned tractors (2.5 percentage point improvement for the quarter) and has translated into more miles per tractor per week (3.4% increase for the quarter). Combined with slower fleet growth, the driver turnover improvements yielded a 27.1% decline in driver recruiting costs, or over 100 basis points in margin.

“While those improvements contributed to the efficiency of our operations, they were offset by the soft freight demand and cost pressures:

 

Fuel and fuel tax expense, excluding fuel surcharge revenue, increased 130 basis points due largely to a higher national average price for diesel fuel; and

 

In early August, a jury returned an unfavorable verdict in a litigated contract dispute. The jury held that USA Truck breached a contract and awarded the plaintiff damages of approximately $3.0 million (300 basis points). During the fourth quarter, we expect the court to determine any additional amounts that we may owe in pre-judgment interest and legal fees. The Company is currently considering all of its available options in regard to the jury’s verdict. This verdict had a negative impact on third quarter diluted earnings per share of approximately $0.17. Without that impact, our operations would have produced improved diluted earnings per share sequentially compared to the second quarter. That is something with which we are pleased given the challenging market conditions.

“Our restructured safety department’s emphasis on safety awareness, training and accident prevention is showing signs of progress. While our accident frequencies remain elevated year-over-year, we have experienced a sequential reduction in accident frequency each quarter this year. We are executing a detailed, data-driven plan to bring down our accident frequencies long-term. An example of our efforts can be found in the frequency of our rollover accidents. During the first two quarters this year, our fleet of approximately 2,600 tractors experienced 24 of these expensive accidents (one every 7.5 days). During July, we implemented a Company-wide training and awareness campaign targeting rollovers. During the third quarter, with the same approximate number of tractors, we only experienced four rollovers (one every 22.5 days). Our safety effort is much broader than just rollovers, but that performance gives us confidence that our efforts, which we call the “war on accidents” internally, will yield tangible, long-term results.

 

 

 

“We have also made progress toward the long-term strategies that we implemented in the fourth quarter of 2006, which basically shift our focus from revenue growth to improving financial returns. Specifically, we have repurchased approximately 934,000 shares of our common stock year-to-date, we have slowed our fleet growth to essentially flat sequentially compared to the second quarter and 2.3% year-over-year, we have increased our revenue yield (revenue per truck per week) 0.2% year-over-year despite economic conditions, and on a year-over-year basis we have grown our non-asset based service revenue by 13.0% and more than doubled the size of our owner-operator fleet. These signs of progress represent only a small step toward achieving our long-term objectives set forth in our 2006 Annual Report on Form 10-K.

“During the fourth quarter, we will continue to focus on fundamentals, develop our 2008 operating plan and work diligently to remove costs from our system by improving operating efficiency.”

 

The following table summarizes the earnings information of USA Truck, Inc. (“Company”) and sets forth the percentage relationship of certain items to base revenue for the three-month periods indicated:

(in thousands, except percentage data (1) and per share amounts)

 

Three Months Ended September 30,

 

2007

 

2006

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Trucking revenue (2)

$

96,930

 

 

 

 

$

94,558

 

 

 

 

USA Logistics revenue (3)

 

2,418

 

 

 

 

 

2,139

 

 

 

 

Base revenue

 

99,348

 

100.0

%

 

 

96,697

 

100.0

%

 

Fuel surcharge revenue

 

23,395

 

 

 

 

 

23,105

 

 

 

 

Total revenue

 

122,743

 

 

 

 

 

119,802

 

 

 

 

Operating expenses and costs:

 

 

 

 

 

 

 

 

 

 

 

 

Salaries, wages and employee benefits

 

39,948

 

40.3

 

 

 

38,804

 

40.1

 

 

Fuel and fuel taxes (4)

 

39,366

 

16.1

 

 

 

37,449

 

14.8

 

 

Depreciation and amortization

 

12,464

 

12.5

 

 

 

11,798

 

12.2

 

 

Insurance and claims

 

7,376

 

7.5

 

 

 

7,266

 

7.5

 

 

Operations and maintenance

 

6,579

 

6.6

 

 

 

5,489

 

5.7

 

 

Purchased transportation

 

4,903

 

4.9

 

 

 

3,447

 

3.6

 

 

Litigation verdict

 

2,967

 

3.0

 

 

 

--

 

--

 

 

Operating taxes and licenses

 

1,522

 

1.5

 

 

 

1,588

 

1.7

 

 

Communications and utilities

 

933

 

0.9

 

 

 

857

 

0.9

 

 

Loss (gain) on disposal of property and equipment, net

 

11

 

--

 

 

 

(71)

 

(0.1)

 

 

Other

 

4,639

 

4.7

 

 

 

5,695

 

5.9

 

 

Total operating expenses

 

120,708

 

98.0

 

 

 

112,322

 

92.3

 

 

Operating income

 

2,035

 

2.0

 

 

 

7,480

 

7.7

 

 

Other expenses (income):

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

1,285

 

1.2

 

 

 

1,065

 

1.0

 

 

Other, net

 

(35)

 

--

 

 

 

(30)

 

--

 

 

Total other expenses, net

 

1,250

 

1.2

 

 

 

1,035

 

1.0

 

 

Income before income taxes

 

785

 

0.8

 

 

 

6,445

 

6.7

 

 

Income tax expense

 

769

 

0.8

 

 

 

3,030

 

3.2

 

 

Net income

$

16

 

--

%

 

$

3,415

 

3.5

%

 

Per share information:

 

 

 

 

 

 

 

 

 

 

 

 

Average shares outstanding (Basic)

 

10,429

 

 

 

 

 

11,389

 

 

 

 

Basic earnings per share

$

--

 

 

 

 

$

0.30

 

 

 

 

Average shares outstanding (Diluted)

 

10,535

 

 

 

 

 

11,558

 

 

 

 

Diluted earnings per share

$

--

 

 

 

 

$

0.30

 

 

 

 

 

 

Page 2 of 6

 

 

 

The following tables include key operating statistics for the three-month periods indicated:

Trucking Operations

 

Three Months Ended September 30, 2007

 

 

General Freight

 

Regional Freight

 

Dedicated

Freight

 

Total Trucking

Total miles (in thousands) (5)

62,283

 

8,581

 

5,102

 

75,966

 

Empty mile factor (6)

10.7

%

 

15.2

%

 

1.6

%

 

10.6

%

Base Trucking revenue per loaded mile

$

1.42

 

$

1.53

 

$

1.36

 

$

1.43

 

Average number of tractors (7)

2,065

 

334

 

182

 

2,581

 

Average miles per tractor per period

30,161

 

25,692

 

28,031

 

29,433

 

Average miles per tractor per week

2,394

 

2,039

 

2,225

 

2,336

 

Average miles per trip (8)

903

 

503

 

472

 

783

 

Average unmanned tractor percentage (9)

2.5

%

 

4.3

%

 

2.8

%

 

2.8

%

Base Trucking revenue per truck per week

$

3,035

 

$

2,647

 

$

2,977

 

$

2,981

 

 

 

Three Months Ended September 30, 2006

 

 

General Freight

 

Regional

Freight

 

Dedicated

Freight

 

Total Trucking

Total miles (in thousands) (5)

59,510

 

5,886

 

6,388

 

71,784

 

Empty mile factor (6)

10.0

%

 

13.1

%

 

3.6

%

 

9.7

%

Base Trucking revenue per loaded mile

$

1.46

 

$

1.56

 

$

1.41

 

$

1.46

 

Average number of tractors (7)

2,041

 

224

 

257

 

2,522

 

Average miles per tractor per period

29,157

 

26,278

 

24,857

 

28,463

 

Average miles per tractor per week

2,314

 

2,086

 

1,973

 

2,259

 

Average miles per trip (8)

951

 

534

 

549

 

841

 

Average unmanned tractor percentage (9)

4.9

%

 

4.5

%

 

9.4

%

 

5.3

%

Base Trucking revenue per truck per week

$

3,028

 

$

2,832

 

$

2,682

 

$

2,976

 

 

 

(1)

Percentages are presented in relationship to base revenue.

 

(2)

Trucking revenue includes base revenue generated from services using Company-owned or owner-operator tractors. Specifically, it includes base revenue from our General Freight, Regional Freight and Dedicated Freight divisions.

 

(3)

USA Logistics revenue includes base revenue generated from non-asset based services. Specifically, it includes base revenue from our Strategic Capacity Solutions (Freight Brokerage) and Third Party Logistics divisions.

 

(4)

Fuel and fuel taxes as a percentage of base revenue is calculated by subtracting fuel surcharge revenue from fuel and fuel taxes expense and dividing that amount by base revenue.

 

(5)

Total miles include both loaded and empty miles.

 

(6)

The empty mile factor is the number of miles traveled for which we are not typically compensated by any customer as a percentage of total miles traveled.

 

(7)

Average number of tractors includes Company-operated tractors plus owner-operator tractors.

 

(8)

Average miles per trip is based upon loaded miles divided by the number of Trucking shipments.

 

(9)

Average unmanned tractor percentage is the weighted average percentage of Company-operated tractors to which a driver is not assigned.

 

Page 3 of 6

 

 

 

The following table summarizes the earnings information of the Company and sets forth the percentage relationship of certain items to base revenue for the nine-month periods indicated:

(in thousands, except percentage data (1) and per share amounts)

 

Nine Months Ended September 30,

 

2007

 

2006

Revenue:

 

 

 

 

 

 

 

 

 

 

 

 

Trucking revenue (2)

$

288,368

 

 

 

 

$

280,782

 

 

 

 

USA Logistics revenue (3)

 

7,140

 

 

 

 

 

12,326

 

 

 

 

Base revenue

 

295,508

 

100.0

%

 

 

293,108

 

100.0

%

 

Fuel surcharge revenue

 

64,075

 

 

 

 

 

62,843

 

 

 

 

Total revenue

 

359,583

 

 

 

 

 

355,951

 

 

 

 

Operating expenses and costs:

 

 

 

 

 

 

 

 

 

 

 

 

Salaries, wages and employee benefits

 

122,269

 

41.4

 

 

 

114,793

 

39.2

 

 

Fuel and fuel taxes (4)

 

110,612

 

15.7

 

 

 

106,752

 

15.0

 

 

Depreciation and amortization

 

36,572

 

12.4

 

 

 

34,611

 

11.8

 

 

Insurance and claims

 

23,584

 

8.0

 

 

 

19,885

 

6.8

 

 

Operations and maintenance

 

19,127

 

6.5

 

 

 

16,296

 

5.5

 

 

Purchased transportation

 

13,528

 

4.5

 

 

 

16,234

 

5.5

 

 

Litigation verdict

 

2,967

 

1.0

 

 

 

--

 

--

 

 

Operating taxes and licenses

 

4,768

 

1.6

 

 

 

4,901

 

1.7

 

 

Communications and utilities

 

2,824

 

1.0

 

 

 

2,523

 

0.9

 

 

Gain on disposal of property and equipment, net

 

(303)

 

(0.1)

 

 

 

(498)

 

(0.2)

 

 

Other

 

14,678

 

5.0

 

 

 

16,558

 

5.6

 

 

Total operating expenses

 

350,626

 

97.0

 

 

 

332,055

 

91.8

 

 

Operating income

 

8,957

 

3.0

 

 

 

23,896

 

8.2

 

 

Other expenses (income):

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

3,886

 

1.3

 

 

 

3,093

 

1.1

 

 

Other, net

 

22

 

--

 

 

 

(92)

 

--

 

 

Total other expenses, net

 

3,908

 

1.3

 

 

 

3,001

 

1.1

 

 

Income before income taxes

 

5,049

 

1.7

 

 

 

20,895

 

7.1

 

 

Income tax expense

 

3,333

 

1.1

 

 

 

9,673

 

3.3

 

 

Net income

$

1,716

 

0.6

%

 

$

11,222

 

3.8

%

 

Per share information:

 

 

 

 

 

 

 

 

 

 

 

 

Average shares outstanding (Basic)

 

10,690

 

 

 

 

 

11,373

 

 

 

 

Basic earnings per share

$

0.16

 

 

 

 

$

0.99

 

 

 

 

Average shares outstanding (Diluted)

 

10,804

 

 

 

 

 

11,595

 

 

 

 

Diluted earnings per share

$

0.16

 

 

 

 

$

0.97

 

 

 

 

 

The following tables include key operating statistics for the nine-month periods indicated:

Trucking Operations

 

Nine Months Ended September 30, 2007

 

 

General Freight

 

Regional Freight

 

Dedicated

Freight

 

Total Trucking

Total miles (in thousands) (5)

184,227

 

24,818

 

17,421

 

226,466

 

Empty mile factor (6)

11.2

%

 

15.6

%

 

2.3

%

 

11.0

%

Base Trucking revenue per loaded mile

$

1.42

 

$

1.55

 

$

1.35

 

$

1.43

 

Average number of tractors (7)

2,048

 

325

 

201

 

2,574

 

Average miles per tractor per period

89,955

 

76,363

 

86,670

 

87,982

 

Average miles per tractor per week

2,367

 

2,010

 

2,281

 

2,315

 

Average miles per trip (8)

911

 

496

 

496

 

787

 

Average unmanned tractor percentage (9)

2.7

%

 

4.4

%

 

3.5

%

 

3.0

%

Base Trucking revenue per truck per week

$

2,992

 

$

2,629

 

$

3,016

 

$

2,948

 

 

 

Page 4 of 6

 

 

 

 

Nine Months Ended September 30, 2006

 

 

General Freight

 

Regional

Freight

 

Dedicated

Freight

 

Total Trucking

Total miles (in thousands) (5)

180,671

 

16,607

 

19,173

 

216,451

 

Empty mile factor (6)

10.1

%

 

13.0

%

 

3.9

%

 

9.7

%

Base Trucking revenue per loaded mile

$

1.44

 

$

1.54

 

$

1.36

 

$

1.44

 

Average number of tractors (7)

2,052

 

212

 

229

 

2,493

 

Average miles per tractor per period

88,046

 

78,336

 

83,725

 

86,823

 

Average miles per tractor per week

2,317

 

2,061

 

2,203

 

2,285

 

Average miles per trip (8)

941

 

544

 

578

 

845

 

Average unmanned tractor percentage (9)

3.9

%

 

6.2

%

 

9.7

%

 

4.6

%

Base Trucking revenue per truck per week

$

2,994

 

$

2,761

 

$

2,886

 

$

2,964

 

 

 

(1)

Percentages are presented in relationship to base revenue.

 

(2)

Trucking revenue includes base revenue generated from services using Company-owned or owner-operator tractors. Specifically, it includes base revenue from our General Freight, Regional Freight and Dedicated Freight divisions.

 

(3)

USA Logistics revenue includes base revenue generated from non-asset based services. Specifically, it includes base revenue from our Strategic Capacity Solutions (Freight Brokerage) and Third Party Logistics divisions.

 

(4)

Fuel and fuel taxes as a percentage of base revenue is calculated by subtracting fuel surcharge revenue from fuel and fuel taxes expense and dividing that amount by base revenue.

 

(5)

Total miles include both loaded and empty miles.

 

(6)

The empty mile factor is the number of miles traveled for which we are not typically compensated by any customer as a percentage of total miles traveled.

 

(7)

Average number of tractors includes Company-operated tractors plus owner-operator tractors.

 

(8)

Average miles per trip is based upon loaded miles divided by the number of Trucking shipments.

 

(9)

Average unmanned tractor percentage is the weighted average percentage of Company-operated tractors to which a driver is not assigned.

 

Selected Balance Sheet Data:

 

 

 

 

 

 

 

 

(in thousands, except percentage data)

 

 

September 30,

 

 

December 31,

 

 

2007

 

 

2006

Total assets

$

333,132

 

$

339,494

 

Total equity

 

146,982

 

 

159,558

 

Total debt, including current maturities

 

87,783

 

 

95,406

 

Debt to total capitalization ratio (1)

 

37.4

%

 

 

37.4

%

 

 

 

(1)

Total capitalization equals total equity plus total debt, including current maturities.

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 continue the recent positive trends identified in this press release such as the improvements in our driver turnover, miles per tractor per week or safety performance. 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 the business levels of our 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

 

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accident claims. Additional risks associated with our operations are discussed in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31, 2006, 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 dry van truckload carrier transporting general commodities via our General, Regional and Dedicated Freight divisions. We transport commodities throughout the continental United States and into and out of portions of Canada. We also transport general commodities into and out of Mexico by allowing through-trailer service from our terminal in Laredo, Texas. Our Third Party Logistics and Strategic Capacity Solutions (Freight Brokerage) divisions provide customized transportation solutions using our technology and multiple modes of transportation including our assets and the assets of our partner carriers.

This press release and related information will be available to interested parties at our web site, http://www.usa-truck.com under the “Financial Data” tab of the “Investor Relations” page.

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Contact: CLIFF BECKHAM, President and Chief Executive Officer - (479) 471-2633

 

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