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USA Truck (USAK) Tops Q1 EPS by 5c, Sales Miss

May 5, 2016 8:53 AM

USA Truck (NASDAQ: USAK) reported Q1 EPS of $0.15, $0.05 better than the analyst estimate of $0.10. Revenue for the quarter came in at $110.62 million versus the consensus estimate of $113.44 million.

President and CEO Randy Rogers commented, “The first quarter was marked by four notable achievements. First, we finished assembling the senior management team we expect to lead us into the future and took major strides toward mapping out our strategy internally. We now have installed a new Chief Executive Officer, President—Trucking, and President—Asset Light in the past six months, and we continue to benefit from the financial leadership and business experience of our CFO, who joined us in 2014. Second, we posted adjusted earnings per share of $0.15, which represented a solid achievement in a difficult freight market. Third, we continued to invest capital effectively by constraining fleet size, growing independent contractors, and repurchasing our shares. Fourth, we implemented significant network infrastructure changes to lighten our cost structure and move toward a more variable cost model.

“We have already made significant structural changes in our Trucking operations – which while absolutely necessary to drive long-term growth and shareholder value – are not without some level of short-term disruption and expense which we experienced during the first quarter of 2016. Importantly, during the quarter, we took the following actions that resulted in $5.3 million of restructuring, impairment and other costs:

For earnings history and earnings-related data on USA Truck (USAK) click here.

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