USA Truck’s Earnings Fall From Last Year
by October 30, 2000 12:00 am 87 views
Van Buren medium-haul carrier USA Truck Inc. announced Oct. 18 that its operating revenues for the quarter ended Sept. 30 were $55.5 million, up 37.4 percent from $40.4 million for the same quarter of 1999.
Net income decreased 69.7 percent to $512,357 for the third quarter of 2000, compared to $1.7 million for the same period in 1999. Earnings per share were six cents compared to 18 cents the same quarter of 1999.
Robert M. Powell, president and CEO of the company, said idle tractors held down revenue growth and profitability for the quarter. They also reduced the company’s weekly miles-per-tractor average 14.7 percent to 2,118.
On October 1, USA Truck implemented a driver pay increase it claims rivals any company in the industry.