USA Truck Inc. a leading capacity solutions provider headquartered in Van Buren, Ark., announced its financial results for the three months and year ended Dec. 31, 2015.
For the fourth quarter of 2015, operating revenue was $118.0 million compared to $150.1 million for the prior-year period, reflecting improved pricing offset by lower volume. Base revenue, which excludes fuel surcharges, was $106.5 million compared to $125.8 million for the same period in the prior year.
For the fourth quarter of 2015, operating revenue was $118.0 million compared to $150.1 million for the prior-year period, reflecting improved pricing offset by lower volume. Base revenue, which excludes fuel surcharges, was $106.5 million compared to $125.8 million for the same period in the prior year.
For the fourth quarter of 2015, net income increased to $3.9 million, or $0.39 per diluted share, up from $3.6 million, or $0.34 per diluted share, for the 2014 quarter. On an adjusted basis, the company achieved earnings per diluted share of $0.38(a) for the 2015 fourth quarter, compared to $0.35(a) for the 2014 period.
Vice Chairman Tom Glaser said, “Our fourth-quarter results reflect the progress we have made improving profitability in our Trucking operations. The many initiatives we implemented to reenergize our Trucking turnaround, combined with Trucking’s strengthened leadership and the refreshing of our fleet, have enabled us to accelerate the progress underway.
New President and CEO Randy Rogers said, “It has been exciting to see first-hand in the past few weeks the dedication and enthusiasm of USA Truck’s team members, who have been pivotal in transforming the culture and making this a great place to work. The progress made in such a short period in our Trucking business under our new leadership team is impressive and I look forward to working closely with them to generate further improvements. “
For the year ended Dec. 31, 2015, operating revenue was $507.9 million compared to $602.5 million for the prior-year period. Base revenue, which excludes fuel surcharges, was $449.0 million compared to $494.3 million for 2014. Net income increased to $11.1 million from $6.3 million for 2014.
Earnings per diluted share increased to $1.06 from $0.60 for the same period in the prior year. Included in earnings per diluted share for 2015 was $0.75 million, or $0.04, net-of-tax, per diluted share loss related to debt extinguishment and $2.7 million, or $0.17, net-of-tax, per diluted share relating to restructuring, severance and related costs.
February 3, 2016 By: Trucking News Staff
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