USA Truck’s Net Income Falls in Third Quarter
ruckload carrier USA Truck said Thursday its third-quarter net income fell 19.1% to $3.4 million, down from $4.2 million a year earlier. Earnings per share fell to 30 cents from 40 cents in the previous third quarter.
Revenue excluding fuel surcharges rose 1.2% to $96.7 million, compared with $95.5 million a year earlier.
In late September, privately-held Liberate Technologies issued a statement wherein it offered to purchase USA Truck for $21 a share. In its response to the statement, USA Truck insisted that the two parties were not in negotiations and that the carrier had received neither written correspondence nor a formal buyout offer from Liberate. (Click here for previous coverage.)
