Cost Reductions Enabled by Tightening of Driver Pay
by February 17, 2003 12:00 am 60 views
USA Truck Inc. of Van Buren said operating revenue, before a fuel surcharge, rose 9.7 percent to $67.3 million for the quarter ended Dec. 31, compared with $61.4 million for the same quarter of 2001.
Net income, however, fell 15.6 percent to $526,746 for the final quarter, compared with $624,277 for the same quarter the previous year. Earnings per share were down 14.3 percent at 6 cents a share, compared with 7 cents a share in 2001.
For the full year, operating revenue, before fuel surcharge, was up 9.9 percent to $268.5 million from $244.4 million the year before. Net income increased 139.3 percent to $2.6 million for 2002, compared with $1.1 million in 2001. Earnings per share for 2002 were 28 cents, compared with 12 cents a share for 2001, an increase of 133.3 percent.
Robert M. Powell, chairman and CEO, said the company will continue to concentrate on its mix (rate per mile, empty miles and equipment utilization).