Tag - USAK

USA Truck Inc. (Nasdaq:USAK) is loaded with profits despite this year’s surge in diesel fuel prices and a slowing economy, which have cut back on over-the-road freight demand. It’s all in the execution: the highway shipper has tuned up business to handle the difficult terrain. 

Van Buren, Ark.-based USA Truck is a medium-haul carrier serving shippers in the United States, Canada and Mexico. Nearly all revenue comes from the United States. The company trucks machinery and equipment, plastics, retail goods, paper products, electronics and more, with a fleet of about 2,000 tractors and 5,700 trailers.

USA Truck’s strategy centers on shortening travel routes, improving fleet utilization and picking up business from those who’ve been taken out by the economy. Its strategy is working: USA Truck increased revenue per tractor per week by 10% in the second quarter through June. 

It’s a matter of adjusting to the market. Since customers are trying to shorten their supply chains in response to higher transportation costs, the company shortened its length of haul. Its ability to improve utilization and reduce its empty mile factor was particularly encouraging in light of the shortened-load length, which often signals reduced utilization and higher empty miles.

Continuous fleet growth over the years, combined with economic weakness, has made it difficult to achieve an acceptable balance of fleet capacity and freight demand. USA Truck now believes it is approaching a balance and, looking ahead, said it will restrict capacity additions to its trucking fleet until it is able to sustain an acceptable return . . .

Friedman Industries Inc. (Nasdaq:FRD) Nabi Biopharmaceuticals (Nasdaq:NABI) and Micromet Inc. (Nasdaq:MITI) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion.    

Also included among the results: Associated Estates Realty Corp. (Nasdaq:AEC) Medifast Inc. (Nasdaq:MED) Schiff Nutrition International Inc. (Nasdaq:WNI) Kensey Nash Corp. (Nasdaq:KNSY) USA Truck Inc (Nasdaq:USAK) and CombiMatrix Corp. (Nasdaq:CBMX).    

Here are the new 52-week highs among small caps:      

Micromet Inc. (Nasdaq:MITI), Industrial Services of America Inc. (Nasdaq:IDSA) and Protherics (Nasdaq:PTIL) are among the new 52-week highs in Monday's trading among companies with market capitalizations under $1 billion.     

Also included among the results: Donegal Group (Nasdaq:DGICA), USA Truck Inc. (Nasdaq:USAK), Hawk Corp. (Nasdaq:HWK), CryoLife Inc (Nasdaq:CRY), Hanger Orthopedic Group Inc. (Nasdaq:HGR) and China Holdings Acquisition (Nasdaq:HOL).        

Here are the new 52-week highs among small caps:        

K-Tron International Inc. (Nasdaq:KTII), Connecticut Water (Nasdaq:CTWS) and Omega Protein Corp. (Nasdaq:OME) are among the new 52-week highs in Friday's trading among companies with market capitalizations under $1 billion. 

Also included among the results: NN Inc (Nasdaq:NNBR), USA Truck Inc. (Nasdaq:USAK), Almost Family Inc (Nasdaq:AFAM), Ness Technologies Inc. (Nasdaq:NSTC), US Physical Therapy Inc (Nasdaq:USPH) and China Holdings Acquisition (Nasdaq:HOL).      

Here are the new 52-week highs among small caps: 

Quest Energy Partners L P (Nasdaq:QELP), Crucell NV ADR (Nasdaq:CRXL) and USA Truck Inc (Nasdaq:USAK) are among the most actively traded companies in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: TASER International Inc (Nasdaq:TASR), USANA Health Sciences Inc (Nasdaq:USNA), DrdGold ADR (Nasdaq:DROOY), ARGON ST Inc (Nasdaq:STST), Cepheid (Nasdaq:CPHD) and Clean Energy Fuels Corp (Nasdaq:CLNE).

Here are the most actively traded companies among small caps:

Catalyst Semiconductor Inc (Nasdaq:CATS), MGIC Investment Corp (Nasdaq:MTG) and Cheviot Financial Corp (Nasdaq:CHEV) are among the biggest percentage gainers in Thursday's trading among companies with market capitalizations under $1 billion.

Also included among the results: Gencor Industries Inc (Nasdaq:GENC), Provident Bankshares Corp (Nasdaq:PBKS), Atlantic Coast Federal Corp (Nasdaq:ACFC), USA Truck Inc (Nasdaq:USAK), Pzena Investment Management Inc (Nasdaq:PZN) and HNI Corp (Nasdaq:HNI).

Here are the biggest percentage gainers among small caps:

Small-cap stocks pushed higher on the opening, lifted by solid earnings results from key names in the large-cap arena, which spilled over into the overall market psyche. In addition, economic reports have been a mild upside surprise this morning and stock markets overseas were higher overnight, which helped set up a platform to extend Wednesday’s big rally. At 10:03 a.m. ET, the Russell 2000 (NYSE:IWM) was up 3.35, or 0.49%, at 690.10.

In overseas trading, European shares were up about 2%, Japan was up 1%, Hong Kong rallied 2.4%, Taiwan surged 3.9%, India was up 4.2%, South Korea up 1.2%, Singapore up 1% and Australia up 0.6%.

Crude oil futures drifted higher after the stock market open, which drained away some of the morning gains in equities. Crude oil prices were lower overnight, and are down some $10 dollars a barrel off the recent highs, but traders remain sensitive to the volatile nature of energy markets, especially when recent declines have been short-lived.

Headline figures from economic data this morning have been much improved over the sobering inflation reports seen Tuesday and Wednesday. Weekly claims rose to 366,000 this week, but were below expectations for a rise to 380,000. Also, housing starts jumped 9.1%, which was far better than the forecast for a 1.5% dip. However, the housing starts report was boosted by data quirk adjustments and it will take more evidence in future reports to suggest that the housing market is anywhere near the recovery road.

The final piece of today’s data puzzle came in at 10:00 a.m. ET, with the July Philly Fed Survey, which came in softer than expected at minus 16.3 and appeared to pull stock index products off the morning highs.

The market is now deep into Q2 earnings season, and some of the “big” . . .

USA Truck Inc. (Nasdaq:USAK) is up more than 25% today after announcing better-than-expected second-quarter earnings. For the quarter ended June 30, net income was $2.1 million, or $0.21 per share, compared with $1.6 million, or $0.15 per share, for the same quarter a year ago. Revenues for the Van Buren, Ark.-based trucking company were $146.1 million, up from $124.4 million for the quarter a year earlier. Wall Street was expecting a net loss of $0.10 per share on revenues of $130.6 million.

Shares of USA Truck are at $12.50 at 10:16 a.m. ET, up $2.54 from Wednesday’s close. Trading volume is nearly triple the average number of shares.

The Russell 2000 (NYSE: IWM) has declined more than the other major U.S. indices on news of an imminent downgrade of bond insurers.

At 11:46 a.m. ET, the small-cap index was down 8.11 points, or 1.16%, to 688.17. The Dow Jones Industrial Average (INDU) had lost 70.09 points, or 0.57%, to 12,214.21.

Wall Street is firmly in negative territory following news that rating agencies Moody’s, Standard & Poor’s and Fitch will move to downgrade major bond insurers MBIA Inc. (NYSE: MBI) and Ambac Financial Group, Inc. (NYSE: ABK).

Bond insurers guarantee bonds purchased by investors by agreeing to pay interest and principle if the issuer doesn’t do so. The insurers’ triple-A rating is a seal of approval for investors looking for safe investments.

A downgrade of MBIA and Ambac will create problems for banks that hold bonds they insure, possibly leading to billions in writedowns.

Among small-cap stocks, shares of trucking and transportation companies are among the worst performers.

Patriot Transportation Holding, Inc. (Nasdaq: PATR), whose trucks operate in the Southeastern United States, has shifted into lower gear.

Similarly, shares of general commodities transporter USA Truck, Inc. (Nasdaq: USAK) have also slowed down. Chattanooga, Tenn.-based Covenant Transportation Group, Inc. (Nasdaq: CVTI) is also tapping on the breaks.

Elsewhere, portable storage solutions provider Mobile Mini, Inc. (Nasdaq: MINI) has agreed to buy Mobile Services Group for about $701.5 million.

Shares of USA Truck, Inc. (Nasdaq: USAK)  traded up today after the dry van truckload carrier said second quarter results decreased from a year ago, but beat analysts’ expectations.

For the three months ended June 30, the Van Buren, Ark.-based company said net income decreased 62.8% to $1.6 million, or $0.15 per share, from $4.4 million, or $0.38 per share in the same quarter last year. Five analysts polled by Thomson Financial expected earnings of $0.12 per share for the second quarter.

“Freight demand for the quarter was certainly softer than a year ago, but freight volumes remained relatively consistent during May and June,” said USA Truck president and CEO Jerry D. Orler.

Orler said USA Truck grew its base revenue by 2.1%. The small-cap booked base revenue of $101.7 million for the second quarter compared with $99.6 million for the same quarter of 2006. Two analysts polled by Thomson Financial expected revenue of $115.9 million for the second quarter.

USA Truck reported that its regional freight business led its trucking divisions with a 44.5% growth rate in base revenue. However, the truckload carrier’s regional freight’s revenue yield declined, while its dedicated freight and general freight both showed year-over-year improvements in revenue yield.

Dry van truckload carrier USA Truck, Inc. (Nasdaq: USAK) announced second quarter results above analysts’ expectations Thursday before the bell.

For the three months ended June 30, the Van Buren, Ark.-based company recorded that net income decreased 62.8% to $1.6 million, or $0.15 per share from $4.4 million, or $0.38 per share in the same quarter last year. Five analysts polled by Thomson Financial expected earnings of $0.12 per share for the second quarter.

The small-cap booked base revenue of $101.7 million for the second quarter compared with $99.6 million for the same quarter of 2006. Two analysts polled by Thomson Financial expected revenue of $115.9 million for the second quarter.

Shares of the truckload carrier climbed 5.51%, or $0.94, to $18.00 in pre-market trading.