USA Truck posts smaller 4Q net loss

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Usa Truck

USA Truck Inc. on Thursday, Jan. 27, announced base revenue of $102.0 million for the quarter ended Dec. 31, an increase of 19.8 percent from $85.1 million for the same quarter of 2009. The Van Buren, Ark.-based company incurred a net loss of $1.8 million compared to a net loss of $2.5 million.

Base revenue increased 16.7 percent to $386.9 million for the 12 months ended Dec. 31 from $331.5 million for the same period of 2009. The company incurred a net loss of $3.3 million compared to a net loss of $7.2 million.

“Improved operational execution pursuant to our Vision for Economic Value Added strategic plan led to our improved fourth-quarter results,” said Clifton Beckham, president and chief executive officer. “We appreciate the commitment and hard work of our employees as we continue to post improved year-over-year results.

Beckham attributed USA Truck’s improvements to a slightly better year-over-year freight environment and to improved compliance with the company’s Spider Web freight network design, while cost headwinds included increased fuel costs, an increase in claims activity and maintenance expenses. “Our Trucking division is executing a detailed strategy during this winter’s bid season to improve our network density in Spider Web lanes,” he said. “We enter this bid season with more experience, better technology, more capable personnel and an even sharper focus on winning the right freight with the right customers. Our goal is to add 1,000 weekly Spider Web loads. Our Intermodal division has a similar focus.”

Beckham said that overall, USA Truck is not satisfied with its absolute results during the fourth quarter of 2010. “But we are pleased with our progress,” he said. “While the pace of that progress is not always as fast or as linear as we would like, our commitment is to long-term results as prescribed by our VEVA strategic plan.”