USA Truck Annual Loss Deepens to $17.5M
USA Truck Inc. of Van Buren on Thursday reported (PDF) a fourth-quarter loss of $3.1 million, 30 cents per share, compared to a loss of $4.4 million, 42 cents per share, during the same quarter last year.
For the full year, however, the company’s net loss deepened, increasing to $17.5 million, a greater loss than the $10.7 million loss it reported for the full year of 2011. Base revenue for the year fell less than 1 percent to $408.7 million from 2011.
Still, President and CEO Cliff Beckham saw postive movement in the company’s trucking segment, which posted year-over-year revenue growth for the first time since the second quarter of 2011.
“Base Trucking revenue grew 3.4 percent despite a 3.1 percent reduction in the average fleet size,” Beckham said. “Base revenue per tractor per week improved 6.7 percent to $2,720 on an improved freight mix and a substantially larger manned tractor count.” Click here to read the full story from our partners at ArkansasBusiness.com.