USA Truck Inc. reports financial results.VAN BUREN
Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. for the quarter ended Dec. 31, 1995, were $25,425,380, up 4.7% from $24,277,638 for the same quarter of 1994. Net income decreased 45.0% to $1,088,797 ($.11 per share) for the fourth quarter of 1995, compared to $1,979,109 ($.20 per share) for the fourth quarter of 1994. For the year ended Dec. 31, 1995, operating revenues increased 10.7% to $102,400,353, from $92,511,364 for the year ended Dec. 31, 1994. Net income decreased 25.2% to $6,037,408 ($.60 per share) for the year ended Dec. 31, 1995, compared to $8,067,329 ($.80 per share) for the year ended Dec. 31, 1994. The following table summarizes USA Truck's earnings information: -0-
Quarter Ended Year Ended
Dec. 31, Dec. 31,
1995 1994 1995 1994
Operating revenues $25,425,380 $24,277,638 $102,400,353 $92,511,364 Operating expenses and costs: Salaries, wages and employee benefits 10,226,530 10,007,752 42,859,567 38,093,614 Operations and maintenance 6,810,706 6,281,871 26,908,540 23,143,655 Operating taxes and licenses 442,780 415,293 1,822,295 1,574,844 Insurance and claims 1,976,616 945,251 5,146,409 3,631,768 Communications and utilities 373,340 283,200 1,284,957 980,590 Depreciation and amortization 2,864,811 2,409,547 11,144,969 9,125,533 Other 808,336 514,910 2,794,443 2,075,267 Total operating expenses and costs 23,503,119 20,857,824 91,961,180 78,625,271 Operating income 1,922,261 3,419,814 10,439,173 13,886,093 Other expenses, net 156,167 209,579 646,134 800,400 Income before income taxes 1,766,094 3,210,235 9,793,039 13,085,693 Income taxes 677,297 1,231,126 3,755,631 5,018,364 Net income $ 1,088,797 $ 1,979,109 $ 6,037,408 $ 8,067,329 Earnings per share $ .11 $ .20 $ .60 $ .80 Average shares outstanding 9,912,660 10,086,076 10,030,312 10,103,976
Key Operating Statistics:
Quarter Ended Year Ended
Dec. 31, Dec. 31,
1995 1994 1995 1994
Total miles
(loaded & empty) 22,782,849 21,816,818 92,174,623 82,983,154
Empty mile factor 10.64% 9.97% 10.69% 9.23%
Revenue per mile $1.116 $1.113 $1.111 $1.115
Average number of tractors 794 678 771 642
Miles per tractor 28,694 32,178 119,552 129,257
Average miles per tractor
per week 2,352 2,638 2,382 2,565
Miles per trip 879 940 900 948
Number of shipments 23,161 20,896 91,460 79,422
Operating ratio 92.4% 85.9% 89.8% 85.0%-0-
In comparing the financial results of the year ended Dec. 31, 1995, to the year ended Dec. 31, 1994, Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. M. Powell, president and chief executive officer of the company, said, "There was no soft landing in 1995 for trucking companies. The reduction in the growth rate of economic activity and the excess capacity within the truckload truck·load n. The quantity that a truck can hold. truckload n → camión m lleno sector of the industry caused a reduction in utilization and increase in empty miles. "Although 1995 was a year of scrambling See scramble. to adjust equipment orders to meet demand, USA Truck experienced revenue growth of 11% while maintaining a revenue per mile rate of $1.11. That, combined with the efforts of our employees, provided an operating ratio Operating Ratio A ratio that shows the efficiency of management by comparing operating expense to net sales: below 90.0% for the sixth consecutive year." Although our utilization rate was at an all time high as recently as 1994, current market conditions have caused our fleet size to exceed our customers' demands. These conditions do not impede im·pede tr.v. im·ped·ed, im·ped·ing, im·pedes To retard or obstruct the progress of. See Synonyms at hinder1. [Latin imped nor detract from detract from verb 1. lessen, reduce, diminish, lower, take away from, derogate, devaluate << OPPOSITE enhance verb 2. our ability to manage cost, make fact based decisions consistent with long range plans, or invest in company infrastructure that will continue to position USA Truck among the leaders in the truckload industry. Currently all of our tractors have drivers assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. to them. We are aggressively seeking additional business from new and existing customers, and we have the ability to quickly increase our fleet size should market conditions improve. USA Truck is a medium haul, common and contract carrier specializing in truckload quantities of general commodities. The company operates in the 48 contiguous Adjacent or touching. Contrast with fragmentation. See contiguous file. United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and in the Canadian provinces Noun 1. Canadian province - Canada is divided into 12 provinces for administrative purposes province, state - the territory occupied by one of the constituent administrative districts of a nation; "his state is in the deep south" of Ontario and Quebec. CONTACT: USA Truck Inc., Van Buren Jerry D. Orler, 501/471-2657 |
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