USA Truck Inc. posts income of $6 million, ends five years of losses
If there is a comeback kid in the Arkansas corporate world, it would have to be Van Buren-based USA Truck. Officials with the long-haul trucking and logistics company announced 2014 net income of $6.033 million, a more than $15 million swing from the $9.11 million loss in 2014, and a gain that ended five consecutive years of losses.
The 2014 per share net income of 58 cents beat the 51 cents per share that was the average of estimates among analysts who cover the company. Full year revenue for the company was $602.477 million, up 8.55% compared to 2013.
Driving the solid annual gain was a healthy fourth quarter in which net income was $4.182 million, much better than the $4.636 million loss in the fourth quarter of 2013. However, the 2013 quarter saw the company, which has a self-funded insurance program, post a $5.97 million charge to boost its long-term claims reserve. The company also posted a $1.5 million charge in the 2013 quarter for expenses related to fighting a hostile takeover attempt by Phoenix-based Knight Transportation.
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