USA Truck announces loan program for student drivers, financial results

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USA Truck Inc. has announced a new interest-free loan program to help students attend truck driving school at a lower cost. USA Truck has a partnership with Weatherford College in Texas to help their vocational program.

The loan will pay for the truck driving training course at the college, which is near the Dallas/Forth Worth area. After completion of the course, the loan will be paid back to the company through a small payroll deduction. USA Truck will pay an additional $1,000 incentive to the driver upon completion of one year of service.

“The industry is providing great opportunities, and we are encouraging more people to attend truck driving school and to get into our business at a very low cost,” says Steve Brantley, manager of driver recruiting for Van Buren, Ark.-based USA Truck. “We are simply helping people seek a career change to the fast-growing and stable trucking industry.”

There is no credit check or down payment for the loan — just an agreement to stay with the company for a year. Prospective drivers must be at least 22 years of age, have a good driving record and be able to be DOT qualified. For more information on USA Truck or to fill out an application, go to www.gousatruck.com.

USA Truck also announced its fourth-quarter and full-year 2005 financial results:

  • Fourth-quarter profit rose 43 percent. Net income grew to $4.3 million, up from $3 million a year ago. A spike in motor vehicle accidents, which the company insures itself against, along with a higher-than-expected adverse jury verdict and increased employee medical claims, reduced earnings. Revenue rose 24 percent to $118.1 million from $95.5 million during the same period last year.
  • For the full year, the company posted net income of $15.6 million, up from $7.4 million in 2004. Revenue rose 21 percent to $439.7 million from $363.1 million in 2004.