USA Truck Inc. posted base revenue of $100.8 million for the quarter ended Sept. 30, an increase of 22.4 percent from the same 2009 quarter. Net income was $600,000 for the quarter; USA Truck lost $1.6 million in the same quarter last year. For the first nine months of the year, base revenue is up 15.6 percent to $284.9 million, and the net loss is $1.5 million — an improvement over the $4.7 million net loss for the same 2009 period.
“Our business model is beginning to take the form we envisioned when we began executing our VEVA (Vision for Economic Value Added) strategic plan two years ago,” says USA Truck President and Chief Executive Officer Clifton Beckham. “Our asset-light service offerings of SCS (Strategic Capacity Solutions) and Intermodal now represent approximately 13 percent of our total revenue and are on pace to produce annualized revenue in excess of $60 million.” The company said that 84 percent of its largest 25 customers utilized various combinations of our Trucking and asset-light services during the quarter. USA Truck also is buying private intermodal containers, which it will use to accelerate its asset-light revenue growth throughout 2011.
