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):November 19, 2008

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 7.01Regulation FD Disclosure

     The Company hereby furnishes the slide presentation for the Stephens Inc. Fall Investment Conference to be held on Wednesday, November 19, 2008, in New York City. The presentation will begin at 9:30 A.M. (EST) and will be approximately 25 minutes in length, including questions and answers after the presentation. A copy of the slide presentation is attached to this report as Exhibit 99.1.

Item 9.01Financial Statements and Exhibits

(d) Exhibits

99.1 USA Truck, Inc. slide presentation from the Stephens Inc. Fall Investment Conference held in New York City on November 19, 2008.

      The information contained in this report (including items 7.01 and 9.01) and the exhibit shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”), or otherwise subject to the liabilities of Section 18 of the Exchange Act, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. The information set forth herein, or in the exhibit, shall not be deemed an admission as to the materiality of any information herein or in the exhibit that is required to be disclosed to satisfy the requirements of Regulation FD.

The information in this report, the exhibit hereto, and statements made at the Stephens Inc. Fall Investment Conference may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements generally may be identified by their use of terms or phrases such as “expects,” “estimates,” “anticipates,” “projects,” “believes,” “plans,” “intends,” “may,” “will,” “should,” “could,” “potential,” “continue,” “future,” and terms or phrases of similar substance.  Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.  Accordingly, actual results may differ from those set forth in the forward-looking statements.  Readers should review and consider the factors that may affect future results and other disclosures by the Company in its press releases, Annual Report on Form 10-K, and other filings with the Securities and Exchange Commission. We disclaim any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking information. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this report and the exhibit hereto, as well as those made at the Stephens Inc. Fall Investment Conference might not occur.

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

     The slide presentation also will be available to interested parties at our web site, http://www.usa-truck.com under the “Presentations” tab of the “Investors” menu.

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:	November 19, 2008	/s/ CLIFTON R. BECKHAM
		Clifton R. Beckham
		President and Chief Executive Officer
Date:	November 19, 2008	/s/ DARRON R. MING
		Darron R. Ming
		Vice President, Finance, Chief Financial Officer and Treasurer

INDEX TO EXHIBITS

Exhibit Number	Exhibit
99.1	USA Truck, Inc. slide presentation from the Stephens Inc. Fall Investment Conference held in New York City on November 19, 2008

EX-99

USA Truck

Forward-Looking Statement

This information and statements made at the Stephens Inc. Fall Investment Conference
may contain forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of
1934, as amended. These statements generally may be identified by their use of terms
or phrases such as “expects,” “estimates,” “anticipates,” “projects,” “believes,”
“plans,” “intends,” “may,” “will,” “should,” “could,” “potential,” “continue,”
“future,” and terms or phrases of similar substance.  Forward-looking statements are
based upon the current beliefs and expectations of our management and are inherently
subject to risks and uncertainties, some of which cannot be predicted or quantified,
which could cause future events and actual results to differ materially from those set
forth in, contemplated by, or underlying the forward-looking statements.  Accordingly,
actual results may differ from those set forth in the forward-looking
statements.  Readers should review and consider the factors that may affect future
results and other disclosures by the Company in its reports, Annual Report on Form
10-K, and other filings with the Securities and Exchange Commission. We disclaim
any obligation to update or revise any forward-looking statements to reflect actual
results or changes in the factors affecting the forward-looking information.  In light of
these risks and uncertainties, the forward-looking events and circumstances discussed
at the Stephens Inc. Fall Investment Conference might not occur.

Our Stock is Under-Valued

As of November 10, 2008

Price to Book Multiples

Market Rejected Growth Strategy

USAK is the 2^nd fastest growing name in TL Group^*over past 10 years
(14.3% revenue CAGR), but…….

  7^th out of 9: EBITDA Growth CAGR

  8^th out of 9: Average ROCE and ROIC

  2^nd Largest Spread:  Revenue CAGR and EBITDA CAGR (850 BPS)

  2^nd Largest Spread:  Revenue CAGR and Net Income CAGR (500 BPS)

  Largest Spread:  Revenue CAGR and ROCE (930 BPS)

Largest Spread:  Revenue CAGR and ROIC (950 BPS)

USAK has the 8^th ranked 10-year Stock Price CAGR (1.0%)

^*CLDN, CVTI, HTLD, JBHT, KNX, MRTN, PTSI, USAK and WERN

Source: SEC Documents and Stephens Inc.

ROC Drives Stock!

Copeland’s Value Mountain

  Revenue Growth vs. Stock Price: Low Correlation + 27%

  Operating Ratio vs. Stock Price: Lowest Correlation -   2%

  EBIT Growth vs. Stock Price: High Correlation + 74%

  ROCE vs. Stock Price: Highest Correlation + 79%

Stock Performance Drivers

Lane’s Value Mountain

^*SEC Documents and Stephens Inc.

Applied to T&L Industry

Confirms Copeland’s Theory

Divergent Business Models

1,190 BPS

270 BPS

Operating Margin Comparison

2007 Average LOH = 829

2007 Average LOH = 550

Strong Core

Strong Core

Deep, Diverse Customer Base

Strong Core

Industries Serviced

Best-In-Class Cost Structure

Operating Cost per Mile^*

* Asset-based operations only for quarter ended September 30,
2008 Source:  SEC Documents and USA Truck, Inc.

A New Business Strategy

A Fresh Operating Strategy

Preserve the Core:

  Customer base

  Cost discipline

  Service culture

Trucking Segment:

  Restrict capacity growth

Build profitable freight flows

Reduce length of haul

  Increase use of asset-light owner operators (120/5%)

Strategic Capacity Solutions (SCS) Segment:

Aggressive growth in asset-light Brokerage & Intermodal

  Compliment our Trucking Operations

  Flexible capacity for customers

  Strong return on capital

The VEVA^*Plan

August 2007

December 2013

December 2010

PHASE II – Earnings Growth

^* We call our strategic plan Vision for Economic Value-Added, or VEVA

1.0 x Book Value

2 % ROC

98% O.R.

3.0 x Book Value

10% ROC

89% O.R.

4.0 x Book Value

≥ 10% ROC

≥ 10% EBIT CAGR

< 89% O.R.

The Results We’ll Need

Consistent Earnings

Earn our Cost of Capital

Positioned for Long-Term Growth

How We'll  Do It

Culture (Mission, Core Values)

Project Velocity

War on Accidents

Limit Capacity/Yield Management

Cost Management

Expand Owner Operator Fleet

Improve Brokerage Model

Launch Intermodal Model

Project Tech

Project People

The Results We’ll Need

Sustained Earnings Growth > 10%

Positive Economic Value Added

How We’ll Do It

Intermodal Growth

Brokerage Growth

Niche Dedicated Launch

General Freight Acquisitions

Productivity Gains

Share Repurchases/Dividends

PHASE I – Margin Expansion

Project Velocity

Our Mileage Addiction

Velocity Effect

Nine Months Ended September 30

Project Velocity

Performance History

March 22 to
September 30

Yield Management

Base Revenue per Paid Mile (2000 = 100)

4.7%
CAGR

1.1%
CAGR

The War on Accidents

Insurance & Claims

Strategic Capacity Solutions

Freight Brokerage Growth^*

Intermodal Growth^*

*Base Revenue (excludes fuel surcharge) in Thousands

Project Tech

Software Application

Hardware Platform

Developer

Year Installed

Age

Accounts Payable

Mainframe

3^rdParty

Accounting

Mainframe

3^rdParty

Risk Management

Mainframe

Custom

Operations

Mainframe

Custom

Accounts Receivable

Mainframe

Custom

Maintenance

Mainframe

Custom

Website

Mainframe

Custom

Driver Recruiting

Mainframe

Custom

Lane Analysis

Server

3^rdParty

Business Intelligence

Server

3^rdParty

Customer Relationship Mgmt

Server

3^rdParty

Aging Technology Infrastructure

October 2008

First Quarter 2009

Fourth Quarter 2008

Third Quarter 2009

Third Quarter 2009

January 2008

October 2008

January 2008

1985                         23

1995                         13

1999                           9

Project People

USAK – 1/1/2008 3.2 : 1

Peer Average – 2007 3.8 : 1

Best-in-Class – 2007 6.0 : 1

USAK – 9/30/08 3.5 : 1

Driver to Non-Driver Ratio

Education Level

Fort Smith MSA

National Average

Less than High School

27%

20%

Bachelor’s degree or higher

13%

24%

Why Invest In USA Truck?

We have a solid core of
service, cost discipline
and a diverse customer
portfolio.

Our stock is trading at
a deep discount to our
industry peers.

We have a vision and a
plan to create
shareholder value.

USA Truck