USA Truck Announces Second Quarter Results

                  USA Truck Announces Second Quarter Results

PR Newswire

VAN BUREN, Ark., July 24, 2013

VAN BUREN, Ark., July 24, 2013 /PRNewswire/ --USA Truck, Inc. (NASDAQ: USAK)
today announced significantly improved year-over-year financial and operating
results for the quarter ended June 30, 2013.


Financial Results

Base revenue of $111.5 million for the quarter ended June 30, 2013, increased
7.7% from $103.5 million for the same quarter of 2012. We incurred a net loss
of $1.0 million ($0.10 per share) for the quarter ended June 30, 2013,
compared to a net loss of $3.5 million ($0.34 per share) for the same quarter
of 2012.

Base revenue increased 7.5% to $216.3 million for the six months ended June
30, 2013, from $201.3 million for the same period of 2012. We incurred a net
loss of $3.5 million ($0.34 per share) for the six months ended June 30, 2013,
compared to a net loss of $8.4 million ($0.81 per share) for the same period
of 2012.

Operating Environment

John Simone, President and CEO, offered the following comments: "Operating
margins improved by 390 basis points year over year on 7.7% base revenue
growth across our combined services, while operating costs increased only 3.7%
(net of fuel surcharge recoveries). We reduced our net loss by 70.0%, marking
our second consecutive quarter of material year-over-year improvement in
operating results. We believe our turnaround plan gained traction during the
June quarter, extending the year-over-year improvements in base revenue,
operating income and net loss we achieved during the March quarter. While we
are encouraged by our progress, we are not satisfied and have not yet achieved
our top priorities of returning to profitability and restoring shareholder

Asset-Based Trucking Operations

"Our Trucking segment continued to lead the turnaround with a 500 basis point
year-over-year improvement in operating margin.

"Trucking base revenue increased 13.3% year over year on improved asset
productivity (miles per seated tractor per week) and more seated tractors.
The improved asset productivity was attributable to better operational
execution within a more efficient freight network. The improved miles
combined with several internal initiatives helped us reduce driver turnover by
31.2 percentage points, which enabled us to increase our seated tractor count
year over year.

"While Trucking base revenue grew by 13.3%, Trucking operating costs increased
only by 8.2% (net of fuel surcharge recoveries). Fixed costs and fuel costs
were materially lower year over year due to the execution of several internal
initiatives. Despite those cost improvements, we believe substantial
opportunity remains to realize more earnings leverage in our Trucking model in
the areas of asset productivity, equipment maintenance, insurance and claims,
fuel economy and driver retention. Internal efforts to improve those costs
are at various stages of implementation, and we are taking measures that we
anticipate will accelerate the pace of progress.

Non-Asset Based Operations

"Despite 5.2% less base revenue, our SCS segment produced 37.2% growth in
operating income increasing to $2.7 million in the second quarter of 2013 from
$2.0 million in the second quarter of 2012. SCS has experienced higher
operating margins by reducing fixed costs and more effectively leveraging the
leaner operating structure. Gross margin improved slightly to 15.5% from 15.4%
in the same quarter a year ago.

Balance Sheet and Liquidity

"We believe our balance sheet and sources of liquidity remain adequate to
support our operating needs for the foreseeable future. At June 30, 2013, our
outstanding debt, less cash, represented 57.6% of our total capitalization,
compared to 55.1% at December 31, 2012. At June 30, 2013, we had
approximately $23.0 million of available borrowing capacity, up from $15.2
million at March 31, 2013 (in each case, net of the minimum availability we
are required to maintain of approximately $18.8 million). For the six months
ended June 30, 2013, we incurred net capital expenditures of approximately
$24.1 million. Our 2013 operating plan anticipates capital expenditures, net
of proceeds on sale of assets, of approximately $23.5 million for the
remainder of the year.


"Most of the metrics reported in this release have not only shown
year-over-year improvement, but also that the year-over-year improvement
during the June quarter expanded upon the improvement in the March quarter on
both dollar and percentage bases. We continue to execute our turnaround
efforts with growing momentum. While we are encouraged by our progress, we
are not satisfied with where we are. We believe there is ample room for
better asset productivity and lower operating costs, and we have detailed
initiatives in place to realize those improvements. We are accelerating the
rate of change as quickly as possible, balancing the pace with the growing
capabilities of the Company. We look forward to sharing our progress in future

A conference call to discuss second quarter earnings will be held on Thursday,
July 25, 2013, at 10:00 a.m., central time. Individuals desiring to listen to
the call may dial in at 1-800-351-6807 (U.S. / Canada) and 1-334-323-7224
(International), access code 541247. The slide presentation that will
accompany the call may be accessed using the following link:

For a period of time following the call, individuals will be able to access
the presentation materials and listen to the audio recording of the call at
our website,, under the "Presentations" tab of the
"Investors" menu.

The following table summarizes the results of operations information of USA
Truck, Inc. ("Company") for the three-and six-month periods indicated:

                                   (in thousands, except per share data)
                                   Three Months Ended    Six Months Ended
                                   June 30,              June 30,
                                   2013       2012       2013       2012
Trucking revenue                   $ 81,434   $ 71,846   $ 161,227  $ 147,782
Strategic Capacity Solutions         30,028     31,674     55,123     53,560
 Base revenue                       111,462    103,520    216,350    201,342
Fuel surcharge revenue               28,276     26,049     55,416     51,900
 Total revenue                      139,738    129,569    271,766    253,242
Operating expenses and costs:
Purchased transportation             35,156     35,275     65,634     62,253
Salaries, wages and employee         34,663     34,717     70,230     70,230
Fuel and fuel taxes                  33,017     30,567     68,613     65,336
Depreciation and amortization        10,852     11,178     21,767     22,335
Operations and maintenance           13,649     10,579     25,157     21,510
Insurance and claims                 7,024      5,381      12,413     10,264
Operating taxes and licenses         1,696      1,389      2,704      2,896
Communications and utilities         984        1,057      2,069      2,079
Gain on disposal of assets, net      (429)      (724)      (819)      (1,266)
Other                                3,497      4,479      7,195      8,570
 Total operating expenses and       140,109    133,898    274,963    264,207
Operating loss                       (371)      (4,329)    (3,197)    (10,965)
Other expenses (income):
Interest expense                     947        1,023      1,784      2,009
Other, net                           (46)       (48)       (99)       (123)
 Total other expenses, net          901        975        1,685      1,886
Loss before income taxes             (1,272)    (5,304)    (4,882)    (12,851)
Income tax benefit                   (228)      (1,818)    (1,364)    (4,492)
Net loss                           $ (1,044)  $ (3,486)  $ (3,518)  $ (8,359)
Net loss per share information:
Average shares outstanding (Basic)   10,293     10,304     10,299     10,302
Basic loss per share               $ (0.10)   $ (0.34)   $ (0.34)   $ (0.81)
Average shares outstanding           10,293     10,304     10,299     10,302
Diluted loss per share             $ (0.10)   $ (0.34)   $ (0.34)   $ (0.81)

The following table includes key operating results and statistics:

                            Three Months Ended       Six Months Ended
                            June 30,                 June 30,
                            2013        2012         2013         2012
Operating loss (in          $ (3,108)   $ (6,324)    $ (7,086)    $ (14,275)
thousands) (1)
Operating ratio (2)           103.8   %   108.8   %    104.4   %    109.7    %
Total miles (in thousands)    56,715      49,594       111,333      102,953
Empty mile factor             11.8    %   10.9    %    11.4    %    11.4     %
Base revenue per loaded     $ 1.629     $ 1.627      $ 1.635      $ 1.620
Average number of             2,241       2,171        2,223        2,201
in-service tractors (4)
Percentage of in-service      5.6     %   11.6    %    4.9     %    8.7      %
tractors unseated
Average number of seated      2,116       1,919        2,115        2,009
tractors (5)
Average miles per seated      2,062       1,988        2,036        1,971
tractor per week
Base Trucking revenue per   $ 2,961     $ 2,880      $ 2,948      $ 2,829
seated tractor per week
Average loaded miles per      597         527          593          527
Strategic Capacity
Solutions (6):
Operating income (in        $ 2,737     $ 1,995      $ 3,888      $ 3,310
thousands) (1)
Gross margin (7)              15.5    %   15.4    %    15.3    %    16.0     %

(1) Operating loss is calculated by deducting total operating expenses from
    total revenues.
(2) Operating ratio is calculated by dividing total operating expenses, net of
    fuel surcharge, by base revenue.
(3) Total miles include both loaded and empty miles.
(4) Tractors include Company-operated tractors in service, plus tractors
    operated by independent contractors.
(5) Seated tractors are those occupied by drivers.
(6) Includes Intermodal results.
    Gross margin is calculated by taking total revenue less purchased
(7) transportation expense and dividing that amount by total revenue. This
    calculation includes intercompany revenues and expenses.

Financial information in this press release is preliminary and based upon
information available to the Company as of the date of this press release. As
such, this information remains subject to the completion of normal quarter-end
closing and interim review procedures which could result in changes, some of
which could be material, to the preliminary information provided in this press

This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements generally may be
identified by their use of terms or phrases such as "expects," "estimates,"
"anticipates," "projects," "believes," "plans," "goals," "intends," "may,"
"will," "should," "could," "potential," "continue," "future" and terms or
phrases of similar substance.Forward-looking statements are based upon the
current beliefs and expectations of our management and are inherently subject
to risks and uncertainties, some of which cannot be predicted or quantified,
which could cause future events and actual results to differ materially from
those set forth in, contemplated by, or underlying the forward-looking
statements.Accordingly, actual results may differ from those set forth in
the forward-looking statements.Readers should review and consider the
factors that may affect future results and other disclosures by the Company in
its press releases, Annual Report on Form 10-K and other filings with the
Securities and Exchange Commission. We disclaim any obligation to update or
revise any forward-looking statements to reflect actual results or changes in
the factors affecting the forward-looking information. In light of these
risks and uncertainties, the forward-looking events and circumstances
discussed in this press release might not occur.

All forward-looking statements attributable to us, or persons acting on our
behalf, are expressly qualified in their entirety by this cautionary

References to the "Company," "we," "us," "our" and words of similar import
refer to USA Truck, Inc. and its subsidiary.

USA Truck is a transportation and logistics provider headquartered in Van
Buren, Arkansas, with terminals, offices and staging facilities located
throughout the United States. We transport commodities throughout the
continental U.S. and into and out of portions of Canada. We also transport
general commodities into and out of Mexico by allowing through-trailer service
from our terminal in Laredo, Texas. Our Strategic Capacity Solutions and
Intermodal service offerings provide customized transportation solutions using
the latest technological tools available and multiple modes of transportation.

This press release and related information will be available to interested
parties at our web site,, under the "News Releases" tab of
the "Investors" menu.

SOURCE USA Truck, Inc.

Contact: John Simone, President and Chief Executive Officer, +1-479-471-2633,
or Cliff Beckham, Executive Vice President and Chief Financial Officer,
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