Pamt (PAMT) 10-Q 5 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Oct. 27, 2015
Entity Registrant Name	PAM TRANSPORTATION SERVICES INC
Entity Central Index Key	798,287
Trading Symbol	ptsi
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		7,114,761
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 1,171,000	$ 27,649,000
Trade, less allowance of $2,037 and $1,611, respectively	55,189,000	52,983,000
Other	6,665,000	11,469,000
Inventories	1,745,000	1,306,000
Prepaid expenses and deposits	6,676,000	10,110,000
Marketable equity securities	24,952,000	24,895,000
Income taxes refundable	1,826,000	507,000
Total current assets	98,224,000	128,919,000
Property and equipment:
Land	5,224,000	4,924,000
Structures and improvements	16,795,000	16,165,000
Revenue equipment	322,992,000	279,079,000
Office furniture and equipment	9,772,000	9,257,000
Total property and equipment	354,783,000	309,425,000
Accumulated depreciation	(105,079,000)	(116,178,000)
Net property and equipment	249,704,000	193,247,000
Other assets	2,447,000	2,439,000
TOTAL ASSETS	350,375,000	324,605,000
Current liabilities:
Accounts payable	32,837,000	41,695,000
Accrued expenses and other liabilities	30,788,000	27,517,000
Current maturities of long-term debt	39,037,000	42,908,000
Deferred income taxes-current	2,676,000	2,951,000
Total current liabilities	105,338,000	115,071,000
Long-term debt-less current portion	79,650,000	52,293,000
Deferred income taxes-less current portion	$ 67,044,000	57,125,000
Other long-term liabilities		131,000
Total liabilities	$ 252,032,000	224,620,000
SHAREHOLDERS' EQUITY
Preferred stock, $.01 par value, 10,000,000 shares authorized; none issued	0	0
Common stock, $.01 par value, 40,000,000 shares authorized; 11,495,571 and 11,474,096 shares issued; 7,114,761 and 7,423,115 shares outstanding at September 30, 2015 and December 31, 2014, respectively	115,000	115,000
Additional paid-in capital	80,380,000	79,926,000
Accumulated other comprehensive income	5,381,000	6,402,000
Treasury stock, at cost; 4,380,810 and 4,050,981 shares, respectively	(101,779,000)	(82,501,000)
Retained earnings	114,246,000	96,043,000
Total shareholders’ equity	98,343,000	99,985,000
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 350,375,000	$ 324,605,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Trade, allowance	$ 2,037	$ 1,611
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	11,495,121	11,474,096
Common stock, shares outstanding (in shares)	7,114,761	7,423,115
Treasury stock, shares (in shares)	4,380,810	4,050,981

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
OPERATING REVENUES:
Revenue, before fuel surcharge	$ 92,076	$ 82,158	$ 265,813	$ 237,660
Fuel surcharge	15,034	24,901	48,813	71,563
Total operating revenues	107,110	107,059	314,626	309,223
OPERATING EXPENSES AND COSTS:
Salaries, wages and benefits	26,533	28,333	79,032	81,400
Operating supplies and expenses	21,912	31,696	69,202	98,560
Rent and purchased transportation	35,255	23,037	97,883	65,756
Depreciation	8,452	9,037	23,753	27,329
Insurance and claims	3,889	4,475	11,246	12,125
Other	2,200	2,657	6,867	7,582
Gain on disposition of equipment	(1,357)	(626)	(4,611)	(3,414)
Total operating expenses and costs	96,884	98,609	283,372	289,338
OPERATING INCOME	10,226	8,450	31,254	19,885
NON-OPERATING (EXPENSE) INCOME	(732)	594	385	1,125
INTEREST EXPENSE	(132)	(632)	(1,992)	(2,238)
INCOME BEFORE INCOME TAXES	9,362	8,412	29,647	18,772
Current	337	569	1,176	1,185
Deferred	3,230	2,786	10,268	6,228
Total federal and state income tax expense	3,567	3,355	11,444	7,413
NET INCOME	$ 5,795	$ 5,057	$ 18,203	$ 11,359
INCOME PER COMMON SHARE:
Basic (in dollars per share)	$ 0.81	$ 0.63	$ 2.48	$ 1.42
Diluted (in dollars per share)	$ 0.80	$ 0.63	$ 2.46	$ 1.41
Basic (in shares)	7,186	7,993	7,346	7,990
Diluted (in shares)	7,219	8,032	7,385	8,034

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income		$ 5,795	$ 5,057	$ 18,203	$ 11,359
Other comprehensive income, net of tax:
Reclassification adjustment for realized gains on marketable securities included in net income (1)	[1]		$ (121)		(121)
Reclassification adjustment for unrealized losses on marketable securities included in net income, net of income taxes (2)	[2]	$ 359		$ 359	1
Changes in fair value of marketable securities (3)	[3]	(1,537)	$ (360)	(1,380)	772
COMPREHENSIVE INCOME		$ 4,617	$ 4,576	$ 17,182	$ 12,011
[1]	Net of deferred income taxes of $0, $(74), $0, and $(74), respectively.
[2]	Net of deferred income taxes of $220, $0, $220, and $0, respectively.
[3]	Net of deferred income taxes of $(940), $(220), $(844), and $473, respectively.

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Unaudited) (Parentheticals) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Deferred income taxes	$ 0	$ (74,000)	$ 0	$ (74,000)
Deferred income taxes	220,000	0	220,000	0
Deferred income taxes	$ (940,000)	$ (220,000)	$ (884,000)	$ 473,000

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
OPERATING ACTIVITIES:
Net income	$ 18,203,000	$ 11,359,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	23,753,000	27,329,000
Bad debt expense	432,000	506,000
Sale leaseback deferred gain amortization	(168,000)	(149,000)
Stock compensation-net of excess tax benefits	218,000	146,000
Deferred	10,268,000	6,228,000
Reclassification of unrealized loss on marketable equity securities	579,000	1,000
Recognized loss (gain) on marketable equity securities	73,000	(364,000)
Gain on sale or disposal of equipment	(4,611,000)	(3,414,000)
Changes in operating assets and liabilities:
Accounts receivable	(5,853,000)	(3,515,000)
Prepaid expenses, deposits, inventories, and other assets	2,987,000	(315,000)
Income taxes refundable	$ (1,319,000)	230,000
Income taxes payable		27,000
Trade accounts payable	$ 20,628,000	1,256,000
Accrued expenses and other liabilities	1,751,000	4,149,000
Net cash provided by operating activities	66,941,000	43,474,000
INVESTING ACTIVITIES:
Purchases of property and equipment	(106,230,000)	(22,901,000)
Proceeds from disposition of equipment	29,888,000	28,403,000
Change in restricted cash	8,019,000	(2,275,000)
Sales of marketable equity securities	18,000	439,000
Purchases of marketable equity securities, net of return of capital	(2,372,000)	(931,000)
Net cash (used in) provided by investing activities	(70,677,000)	2,735,000
FINANCING ACTIVITIES:
Borrowings under line of credit	407,317,000	365,015,000
Repayments under line of credit	(406,860,000)	(362,140,000)
Borrowings of long-term debt	64,752,000	19,299,000
Repayments of long-term debt	(41,723,000)	(51,821,000)
Borrowings under margin account	2,546,000	1,030,000
Repayments under margin account	(989,000)	(1,117,000)
Repurchases of common stock	(48,021,000)	(16,006,000)
Exercise of stock options	236,000	841,000
Net cash used in financing activities	(22,742,000)	(44,899,000)
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(26,478,000)	1,310,000
CASH AND CASH EQUIVALENTS-Beginning of period	27,649,000	1,172,000
CASH AND CASH EQUIVALENTS-End of period	1,171,000	2,482,000
Cash paid during the period for:
Interest	2,009,000	2,256,000
Income taxes	2,495,000	927,000
NONCASH INVESTING AND FINANCING ACTIVITIES-
Purchases of property and equipment included in accounts payable	$ 336,000	$ 387,000

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2014	7,423,000
Balance at Dec. 31, 2014	$ 115	$ 79,926	$ 6,402	$ (82,501)	$ 96,043	$ 99,985
Net Income					$ 18,203	18,203
Other comprehensive loss, net of tax of $624			$ (1,021)			$ (1,021)
Exercise of stock options and stock awards-shares issued including tax benefits (in shares)	21,000					20,250
Exercise of stock options and stock awards-shares issued including tax benefits		$ 236				$ 236
Treasury stock repurchases (in shares)	(329,000)
Treasury stock repurchases				$ (19,278)		(19,278)
Share-based compensation		$ 218				218
Balance (in shares) at Sep. 30, 2015	7,115,000
Balance at Sep. 30, 2015	$ 115	$ 80,380	$ 5,381	$ (101,779)	$ 114,246	$ 98,343

Condensed Consolidated Stateme9

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) (Parentheticals)	9 Months Ended
	Sep. 30, 2015USD ($)
AOCI Attributable to Parent [Member]
Other comprehensive income, tax	$ 624

Note A - Basis of Presentation

Note A - Basis of Presentation	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Basis of Accounting [Text Block]	NOTE A: BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In management’s opinion, all adjustments (consisting of normal recurring adjustments) necessary for a fair presentation have been included. The consolidated balance sheet at December 31, 2014 has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. Operating results for the nine-month period ended September 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. For further information, refer to the consolidated financial statements and the footnotes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2014. During the first quarter of 2015, the Company began to classify payments for fuel and operating taxes and licenses as operating supplies and expenses, and communications and utilities as other expenses, rather than separately as had been presented in reports prior to the period ended March 31, 2015. This reclassification has no effect on operating income, net income or earnings per share. The Company has made corresponding reclassifications to comparative periods shown.

Note B - Recent Accounting Pron

Note B - Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE B: RECENT ACCOUNTING PRONOUNCEMENTS In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2014-08 (“ASU 2014-08”), Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity financial condition, results of operations, or cash flows. In May 2014, the FASB issued ASU No. 2014-09, (“ASU 2014-09”), Revenue from Contracts with Customers In June 2014, the FASB issued ASU 2014-12, (“ASU 2014-12”), Stock Compensation - Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period In July 2015, the FASB issued ASU 2015-11, (“ASU 2015-11”), Simplifying the Measurement of Inventory

Note C - Marketable Equity Secu

Note C - Marketable Equity Securities	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	NOTE C: MARKETABLE EQUITY SECURITIES The Company accounts for its marketable securities in accordance with ASC Topic 320, Investments-Debt and Equity Securities Marketable equity securities classified as available-for-sale are carried at fair value, with the unrealized gains and losses, net of tax, included as a component of accumulated other comprehensive income in shareholders’ equity. Realized gains and losses, declines in value judged to be other-than-temporary on available-for-sale securities, and increases or decreases in value on trading securities, if any, are included in the determination of net income. A quarterly evaluation is performed in order to judge whether declines in value below cost should be considered temporary and when losses are deemed to be other-than-temporary. Several factors are considered in this evaluation process including the severity and duration of the decline in value, the financial condition and near-term outlook for the specific issuer and the Company’s ability to hold the securities. For the quarter ended September 30, 2015, the evaluation resulted in an impairment charge of approximately $579,000 in the Company’s non-operating income in its statement of operations. For the quarter ended September 30, 2014, an impairment charge was not necessary. For the nine-month period ended September 30, 2015, the evaluation resulted in an impairment charge of approximately $579,000 in the Company’s non-operating income in its statement of operations. For the nine-month period ended September 30, 2014, the evaluation resulted in an impairment charge of approximately $1,000 in the Company’s non-operating income in its statement of operations. The following table sets forth cost, market value and unrealized gains on equity securities classified as available-for-sale and equity securities classified as trading as of September 30, 2015 and December 31, 2014. September 30, 2015 December 31, 2014 (in thousands) Available-for-sale securities Fair market value $ 24,736 $ 24,592 Cost 16,061 14,272 Unrealized gain $ 8,675 $ 10,320 Trading securities Fair market value $ 216 $ 303 Cost 157 157 Unrealized gain $ 59 $ 146 Total Fair market value $ 24,952 $ 24,895 Cost 16,218 14,429 Unrealized gain $ 8,734 $ 10,466 The following table sets forth the gross unrealized gains and losses on the Company’s marketable securities that are classified as available-for-sale as of September 30, 2015 and December 31, 2014. September 30, 2015 December 31, 2014 (in thousands) Available-for-sale securities: Gross unrealized gains $ 10,078 $ 10,710 Gross unrealized losses 1,403 390 Net unrealized gains $ 8,675 $ 10,320 As of September 30, 2015 and December 31, 2014, the total net unrealized gain, net of deferred income taxes, in accumulated other comprehensive income was approximately $5,381,000 and $6,402,000, respectively. For the nine months ended September 30, 2015, the Company had net unrealized losses in market value on securities classified as available-for-sale of approximately $1,011,000, net of deferred income taxes. For the year ended December 31, 2014, the Company had net unrealized gains in market value on securities classified as available-for-sale of approximately $237,000, net of deferred income taxes. For the quarter ended September 30, 2015, the Company recognized dividends of approximately $288,000 in non-operating income in its statements of operations. For the quarter ended September 30, 2014, the Company recognized dividends of approximately $238,000 in non-operating income in its statements of operations. As of September 30, 2015, the Company's marketable securities that were classified as trading had gross recognized gains of approximately $59,000 and no gross recognized losses. As of September 30, 2014, the Company's marketable securities that were classified as trading had gross recognized gains of approximately $89,000 and no gross recognized losses. The following table shows recognized gains (losses) in market value for securities classified as trading for the periods indicated. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) Trading securities Recognized gain at beginning of period $ 83 $ 57 $ 146 $ 8 Recognized gain at end of period 59 89 59 89 Net recognized (loss) gain for the period $ (24 ) $ 32 $ (87 ) $ 81 Net recognized (loss) gain for the period, net of taxes $ (15 ) $ 20 $ (54 ) $ 50 There were no reclassifications of marketable securities between trading and available for sale categories during the first nine months of 2015 or 2014. The following table shows the Company’s realized gains during the first nine months of 2015 and 2014 on certain securities which were held as available-for sale. The cost of securities sold is based on the specific identification method and interest and dividends on securities are included in non-operating income. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) Realized gains Sale proceeds $ 18 $ 439 $ 18 $ 439 Cost of securities sold 4 156 4 156 Realized gains $ 14 $ 283 $ 14 $ 283 Realized gains, net of taxes $ 9 $ 171 $ 9 $ 171 The following table shows the Company’s investments’ approximate gross unrealized losses and fair value of those securities in a loss position at September 30, 2015 and December 31, 2014. These investments consist of equity securities. As of September 30, 2015 and December 31, 2014, there were no investments that had been in a continuous unrealized loss position for twelve months or longer. September 30, 2015 December 31, 2014 (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Equity securities – Available-for-sale $ 5,595 $ 1,403 $ 3,961 $ 390 Equity securities – Trading - - - - Totals $ 5,595 $ 1,403 $ 3,961 $ 390 The market value of the Company’s equity securities are periodically used as collateral against any outstanding margin account borrowings. As of September 30, 2015 and December 31, 2014, the Company had outstanding borrowings of approximately $13,280,000 and $11,723,000, respectively, under its margin account. Margin account borrowings are used for the purchase of marketable equity securities and as a source of short-term liquidity.

Note D - Stock Based Compensati

Note D - Stock Based Compensation	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Compensation and Employee Benefit Plans [Text Block]	NOTE D: STOCK BASED COMPENSATION The Company maintains a stock option plan under which incentive stock options and nonqualified stock options may be granted. On March 2, 2006, the Company’s Board of Directors (the “Board”) adopted, and shareholders later approved, the 2006 Stock Option Plan (the “2006 Plan”). Under the 2006 Plan, 750,000 shares were reserved for the issuance of stock options to directors, officers, key employees, and others. The option exercise price under the 2006 Plan is the fair market value of the stock on the date the option is granted. The fair market value is determined by the closing price of the Company’s common stock, on its primary exchange, on the same date that the option is granted. On March 13, 2014, the Company’s Board of Directors adopted, and on May 29, 2014 our shareholders approved, the 2014 Amended and Restated Stock Option and Incentive Plan (the “2014 Plan”) which replaced the 2006 Plan. The shares which remained reserved under the 2006 Plan were carried over to the 2014 Plan and are reserved for the issuance of stock awards to directors, officers, key employees, and others. Stock option exercise price under the 2014 Plan is the fair market value of the stock on the date the option is granted. The restricted stock purchase price under the 2014 Plan shall not be less than 85% of the fair market value of the Company’s common stock on the date the award is made. The fair market value is determined by the average of the highest and lowest sales prices for a share of the Company’s common stock, on its primary exchange, on the same date that the option or award is granted. Outstanding nonqualified stock options at September 30, 2015, must be exercised within either five or ten years from the date of grant. Outstanding nonqualified stock options granted to members of the Company’s Board of Directors are fully vested while outstanding nonqualified stock options issued to employees vest in increments of 20% each year. During the first nine months of 2015, 1,225 shares of common stock were granted to non-employee directors under the 2014 Plan. This stock award had a grant date fair value of $57.27 per share, based on the closing price of the Company’s stock on the date of grant, and vested immediately. The total grant date fair value of stock and stock options vested during the first nine months of 2015 was approximately $158,000. Total pre-tax stock-based compensation expense, recognized in Salaries, wages and benefits during the third quarter of 2015 was approximately $49,000. Total pre-tax stock-based compensation expense, recognized in Salaries, wages and benefits during the first nine months of 2015 was approximately $218,000 and includes approximately $70,000 recognized as a result of the grant of 175 shares to each non-employee director during the first quarter of 2015. The recognition of stock-based compensation expense decreased diluted earnings per share reported for the third quarter ending September 30, 2015 by approximately $0.01 but did not have a recognizable impact on basic earnings per share reported for the third quarter ended September 30, 2015. The recognition of stock-based compensation expense decreased diluted and basic earnings per common share by approximately $0.02 during the nine months ended September 30, 2015. As of September 30, 2015, the Company had stock-based compensation plans with total unvested stock-based compensation expense of approximately $394,000 which is being amortized on a straight-line basis over the remaining vesting period. As a result, the Company expects to recognize approximately $50,000 in additional compensation expense related to unvested option awards during the remainder of 2015 and to recognize approximately $167,000, $109,000, and $68,000 in additional compensation expense related to unvested option awards during the years 2016, 2017, and 2018, respectively. The total grant date fair value of stock and stock options vested during the first nine months of 2014 was approximately $148,000. Total pre-tax stock-based compensation expense, recognized in Salaries, wages and benefits during the third quarter of 2014 was approximately $30,000. Total pre-tax stock-based compensation expense, recognized in Salaries, wages and benefits during the first nine months of 2014 was approximately $146,000 and includes approximately $60,000 recognized as a result of the grant of 504 shares to each non-employee director during the first quarter of 2014. The recognition of stock-based compensation expense did not have a recognizable impact on diluted or basic earnings per share reported for the third quarter ended September 30, 2014 but did decrease diluted and basic earnings per common share by approximately $0.02 during the nine months ended September 30, 2014. Information related to stock option activity for the nine months ended September 30, 2015 is as follows: Shares Under Options Weighted-Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value* (per share) (in years) Outstanding at January 1, 2015 86,348 $ 11.09 Granted - - Exercised (20,250 ) 11.65 Cancelled/forfeited/expired - - Outstanding at September 30, 2015 66,098 $ 10.92 4.4 $ 1,462,611 Exercisable at September 30, 2015 32,393 $ 10.88 2.3 $ 717,999 ___________________________ * The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option. The per share market value of our common stock, as determined by the closing price on September 30, 2015, was $33.05. A summary of the status of the Company’s nonvested options and restricted stock as of September 30, 2015 and changes during the nine months ended September 30, 2015, is presented below: Stock Options: Number of Options Weighted- Average Grant Date Fair Value Nonvested at January 1, 2015 48,109 $ 6.10 Granted - - Canceled/forfeited/expired - - Vested (14,404 ) 6.07 Nonvested at September 30, 2015 33,705 $ 6.11 Restricted Stock: Number of Options Weighted- Average Grant Date Fair Value Nonvested at January 1, 2015 7,600 $ 42.65 Granted 1,225 57.27 Canceled/forfeited/expired - - Vested (1,225 ) 57.27 Nonvested at September 30, 2015 7,600 $ 42.65 The number, weighted average exercise price, and weighted average remaining contractual life of options outstanding as of September 30, 2015 and the number and weighted average exercise price of options exercisable as of September 30, 2015 are as follows: Exercise Price Shares Under Outstanding Options Weighted-Average Remaining Contractual Term Shares Under Exercisable Options (in years) $ 10.44 15,000 2.4 15,000 $ 10.90 6,000 1.7 6,000 $ 10.90 29,600 6.7 2,000 $ 11.22 7,498 5.2 1,393 $ 11.54 4,000 1.4 4,000 $ 11.75 4,000 0.4 4,000 66,098 4.4 32,393 Cash received from option exercises totaled approximately $236,000 and $841,000 during the nine months ended September 30, 2015 and September 30, 2014, respectively. The Company issues new shares upon option exercise.

Note E - Segment Information

Note E - Segment Information	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE E: SEGMENT INFORMATION The Company follows the guidance provided by ASC Topic 280, S egment Reporting, Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Amount % Amount % Amount % Amount % (in thousands, except percentage data) Truckload Services revenue $ 80,220 87.1 $ 76,036 92.5 $ 232,261 87.4 $ 220,860 92.9 Brokerage and Logistics Services revenue 11,856 12.9 6,122 7.5 33,552 12.6 16,800 7.1 Total revenues $ 92,076 100.0 $ 82,158 100.0 $ 265,813 100.0 $ 237,660 100.0

Note F - Treasury Stock

Note F - Treasury Stock	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Treasury Stock [Text Block]	NOTE F: TREASURY STOCK The Company’s stock repurchase program has been extended and expanded several times, most recently in May 2014, when the Board of Directors reauthorized 500,000 shares of common stock for repurchase under the initial September 2011 authorization. During the nine months ended September 30, 2015, the Company repurchased 31,263 shares of its common stock at an aggregate cost of approximately $1,495,000 under this program. On May 22, 2015, the Company commenced a tender offer to repurchase up to 80,000 shares of the Company’s outstanding common stock at a price of up to $63.00 per share. On June 23, 2015, the Company extended the offer and increased the offer from 80,000 shares to 150,000 shares. Upon expiration of the tender offer on July 9, 2015, the Company accepted 298,566 shares of its common stock for purchase at $59.00 per share, including 148,566 oversubscribed shares tendered, at an aggregate cost of approximately $17,783,000. The Company accounts for Treasury stock using the cost method and as of September 30, 2015, there were 4,380,810 shares held in the treasury at an aggregate cost of approximately $101,779,000.

Note G - Accumulated Other Comp

Note G - Accumulated Other Comprehensive Income	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Accumulated Other Comprehensive Income [Text Block]	NOTE G: ACCUMULATED OTHER COMPREHENSIVE INCOME The following table summarizes the changes in accumulated balances of other comprehensive income for the three and nine months ended September 30, 2015: Unrealized gains and losses on available-for-sale securities (in thousands) Balance at June 30, 2015, net of tax of $4,014 $ 6,559 Other comprehensive loss before reclassifications, net of tax benefit of $(940) (1,537 ) Amounts reclassified from accumulated other comprehensive income, net of tax benefit of $220 359 Net current-period other comprehensive loss (1,178 ) Balance at September 30, 2015, net of tax of $3,294 $ 5,381 Balance at December 31, 2014, net of tax of $3,918 $ 6,402 Other comprehensive loss before reclassifications, net of tax benefit of $(844) (1,380 ) Amounts reclassified from accumulated other comprehensive income, net of tax benefit of $220 359 Net current-period other comprehensive loss (1,021 ) Balance at September 30, 2015, net of tax of $3,294 $ 5,381 The following table provides details about reclassifications out of accumulated other comprehensive income for the nine months ended September 30, 2015: Amounts Reclassified from Accumulated Other Comprehensive Income (a) Details about Accumulated Other Comprehensive Income Component Nine Months Ended September 30, 2015 Statement of Operations Classification (in thousands) Unrealized gains and losses on available-for-sale securities: Impairment expense $ (579 ) Non-operating (expense) income Total before tax (579 ) Income before income taxes Tax benefit 220 Income tax expense Total after tax $ (359 ) Net income (a) Amounts in parentheses indicate debits to profit/loss

Note H - Earnings Per Share

Note H - Earnings Per Share	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE H: EARNINGS PER SHARE Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by adjusting the weighted average number of shares of common stock outstanding by common stock equivalents attributable to dilutive stock options. The computation of diluted earnings per share does not assume conversion, exercise, or contingent issuance of securities that would have an anti-dilutive effect on earnings per share. The computations of basic and diluted earnings per share were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (in thousands, except per share data) Net income $ 5,795 $ 5,057 $ 18,203 $ 11,359 Basic weighted average common shares outstanding 7,186 7,993 7,346 7,990 Dilutive effect of common stock equivalents 33 39 39 44 Diluted weighted average common shares outstanding 7,219 8,032 7,385 8,034 Basic earnings per share $ 0.81 $ 0.63 $ 2.48 $ 1.42 Diluted earnings per share $ 0.80 $ 0.63 $ 2.46 $ 1.41 As of September 30, 2015 and September 30, 2014, there were no options outstanding to purchase shares of common stock that had an anti-dilutive effect on the computation of diluted earnings per share.

Note I - Income Taxes

Note I - Income Taxes	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE I: INCOME TAXES The Company and its subsidiaries are subject to U.S. and Canadian federal income tax laws as well as the income tax laws of multiple state jurisdictions. The major tax jurisdictions in which the Company operates generally provide for a deficiency assessment statute of limitation period of three years, and as a result, the Company’s tax years 2012 and forward remain open to examination in those jurisdictions. In determining whether a tax asset valuation allowance is necessary, management, in accordance with the provisions of ASC 740-10-30, weighs all available evidence, both positive and negative, to determine whether, based on the weight of that evidence, a valuation allowance is necessary. If negative conditions exist which indicate a valuation allowance might be necessary, consideration is then given to what effect the future reversals of existing taxable temporary differences and the availability of tax strategies might have on future taxable income to determine the amount, if any, of the required valuation allowance. As of September 30, 2015, management determined that the future reversals of existing taxable temporary differences and available tax strategies would generate sufficient future taxable income to realize its tax assets and therefore a valuation allowance was not necessary. The Company recognizes a tax benefit from an uncertain tax position only if it is more likely than not that the position will be sustained on examination by taxing authorities, based on the technical merits of the position. As of September 30, 2015, an adjustment to the Company’s consolidated financial statements for uncertain tax positions has not been required as management believes that the Company’s tax positions taken in income tax returns filed or to be filed are supported by clear and unambiguous income tax laws. The Company recognizes interest and penalties related to uncertain income tax positions, if any, in income tax expense. During the nine months ended September 30, 2015 and 2014, the Company has not recognized or accrued any interest or penalties related to uncertain income tax positions.

Note J - Fair Value of Financia

Note J - Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Fair Value Disclosures [Text Block]	NOTE J: FAIR VALUE OF FINANCIAL INSTRUMENTS The Company’s financial instruments consist of cash and cash equivalents, marketable equity securities, accounts receivable, trade accounts payable, and borrowings. The Company follows the guidance for financial assets and liabilities measured on a recurring basis. This guidance defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date and also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Inputs other than Level 1 inputs that are either directly or indirectly observable such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable; or other inputs not directly observable, but derived principally from, or corroborated by, observable market data. Level 3: Unobservable inputs that are supported by little or no market activity. The Company utilizes the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. At September 30, 2015, the following items are measured at fair value on a recurring basis: Total Level 1 Level 2 Level 3 (in thousands) Marketable equity securities $ 24,952 $ 24,952 - - The Company’s investments in marketable securities are recorded at fair value based on quoted market prices. The carrying value of other financial instruments, including cash, accounts receivable, accounts payable, and accrued liabilities approximate fair value due to their short maturities. The carrying amount for the line of credit approximates fair value because the line of credit interest rate is adjusted frequently. For long-term debt other than the lines of credit, the fair values are estimated using discounted cash flow analyses, based on the Company’s current incremental borrowing rates for similar types of borrowing arrangements. The carrying value and estimated fair value of this other long-term debt at September 30, 2015 was as follows: Carrying Value Estimated Fair Value (in thousands) Long-term debt $ 118,230 $ 118,373 The Company has not elected the fair value option for any of its financial instruments.

Note K - Notes Payable and Long

Note K - Notes Payable and Long-term Debt	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Long-term Debt [Text Block]	NOTE K: NOTES PAYABLE AND LONG-TERM DEBT During the first nine months of 2015, the Company’s subsidiaries entered into installment obligations totaling approximately $64.8 million for the purpose of purchasing revenue equipment. These obligations are payable in monthly installments ranging from 36 months to 60 months at a weighted average interest rate of 2.17%.

Note L - Off-balance Sheet Arra

Note L - Off-balance Sheet Arrangements	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	NOTE L: OFF-BALANCE SHEET ARRANGEMENTS During the first nine months of 2015, the Company’s subsidiaries entered into an operating lease for the lease of 50 trucks. Revenue equipment held under operating leases is not carried on our balance sheet and the respective lease payments are reflected in our consolidated statement of operations as a component of the Rents and purchased transportation category. Rent expense related to revenue equipment under operating leases totaled $2.7 million and $7.7 million for the three and nine months ended September 30, 2015, respectively. Leases for revenue equipment under non-cancellable operating leases expire at various dates through 2018. F uture minimum lease payments related to non-cancellable leases for revenue equipment at September 30, 2015 are: (in thousands) 2015 $ 1,801 2016 9,784 2017 6,128 2018 188 Total future minimum lease payments $ 17,901

Note M - Litigation

Note M - Litigation	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	NOTE M: LITIGATION We are a defendant in a collective-action lawsuit which was filed on August 22, 2013, in the United States District Court for the Western District of Arkansas. The plaintiffs, who are current and former drivers and who worked for the Company during the period of August 22, 2010, through the date of the filing, allege claims for unpaid wages under the Fair Labor Standards Act and the Arkansas Minimum Wage Law. The complaint alleges that the Company failed to pay newly hired drivers minimum wage during orientation, training, and while traveling during normal business hours and that the Company failed to pay all drivers when working on assignment for more than 24 hours. The plaintiffs seek to enjoin the Company from continuing its current pay practices related to the allegations. They also seek actual damages, liquidated damages equal to accrual damages, court costs, and legal fees. During 2014, the Company reached a preliminary settlement with the plaintiffs in the amount of $3,950,000 and accordingly, reserved this amount, along with estimated settlement costs, in its 2014 consolidated financial statements. During the first quarter of 2015, the Company negotiated a reduction in the settlement amount to approximately $3,450,000. Should the settlement not be approved by the court, further negotiations may take place to reach a different settlement or the case may continue on to trial. Management has determined that any losses under this claim will not be covered by existing insurance policies.

Note N - Subsequent Events

Note N - Subsequent Events	9 Months Ended
	Sep. 30, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE N: SUBSEQUENT EVENTS Management has evaluated subsequent events for recognition and disclosure through the date these financial statements were filed with the United States Securities and Exchange Commission and concluded that no subsequent events or transactions have occurred that require recognition or disclosure in our financial statements.

Note C - Marketable Equity Se24

Note C - Marketable Equity Securities (Tables)	9 Months Ended
	Sep. 30, 2015
Equity Securities [Member]
Notes Tables
Schedule of Unrealized Loss on Investments [Table Text Block]	September 30, 2015 December 31, 2014 (in thousands) Fair Value Unrealized Losses Fair Value Unrealized Losses Equity securities – Available-for-sale $ 5,595 $ 1,403 $ 3,961 $ 390 Equity securities – Trading - - - - Totals $ 5,595 $ 1,403 $ 3,961 $ 390
Marketable Securities [Table Text Block]	September 30, 2015 December 31, 2014 (in thousands) Available-for-sale securities Fair market value $ 24,736 $ 24,592 Cost 16,061 14,272 Unrealized gain $ 8,675 $ 10,320 Trading securities Fair market value $ 216 $ 303 Cost 157 157 Unrealized gain $ 59 $ 146 Total Fair market value $ 24,952 $ 24,895 Cost 16,218 14,429 Unrealized gain $ 8,734 $ 10,466
Unrealized Gain (Loss) on Investments [Table Text Block]	September 30, 2015 December 31, 2014 (in thousands) Available-for-sale securities: Gross unrealized gains $ 10,078 $ 10,710 Gross unrealized losses 1,403 390 Net unrealized gains $ 8,675 $ 10,320
Realized Gain (Loss) on Investments [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) Trading securities Recognized gain at beginning of period $ 83 $ 57 $ 146 $ 8 Recognized gain at end of period 59 89 59 89 Net recognized (loss) gain for the period $ (24 ) $ 32 $ (87 ) $ 81 Net recognized (loss) gain for the period, net of taxes $ (15 ) $ 20 $ (54 ) $ 50
Schedule of Realized Gain (Loss) [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 (in thousands) (in thousands) Realized gains Sale proceeds $ 18 $ 439 $ 18 $ 439 Cost of securities sold 4 156 4 156 Realized gains $ 14 $ 283 $ 14 $ 283 Realized gains, net of taxes $ 9 $ 171 $ 9 $ 171

Note D - Stock Based Compensa25

Note D - Stock Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Share-based Compensation, Activity [Table Text Block]	Shares Under Options Weighted-Average Exercise Price Weighted- Average Remaining Contractual Term Aggregate Intrinsic Value* (per share) (in years) Outstanding at January 1, 2015 86,348 $ 11.09 Granted - - Exercised (20,250 ) 11.65 Cancelled/forfeited/expired - - Outstanding at September 30, 2015 66,098 $ 10.92 4.4 $ 1,462,611 Exercisable at September 30, 2015 32,393 $ 10.88 2.3 $ 717,999
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	Number of Options Weighted- Average Grant Date Fair Value Nonvested at January 1, 2015 48,109 $ 6.10 Granted - - Canceled/forfeited/expired - - Vested (14,404 ) 6.07 Nonvested at September 30, 2015 33,705 $ 6.11 Number of Options Weighted- Average Grant Date Fair Value Nonvested at January 1, 2015 7,600 $ 42.65 Granted 1,225 57.27 Canceled/forfeited/expired - - Vested (1,225 ) 57.27 Nonvested at September 30, 2015 7,600 $ 42.65
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]	Exercise Price Shares Under Outstanding Options Weighted-Average Remaining Contractual Term Shares Under Exercisable Options (in years) $ 10.44 15,000 2.4 15,000 $ 10.90 6,000 1.7 6,000 $ 10.90 29,600 6.7 2,000 $ 11.22 7,498 5.2 1,393 $ 11.54 4,000 1.4 4,000 $ 11.75 4,000 0.4 4,000 66,098 4.4 32,393

Note E - Segment Information (T

Note E - Segment Information (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Amount % Amount % Amount % Amount % (in thousands, except percentage data) Truckload Services revenue $ 80,220 87.1 $ 76,036 92.5 $ 232,261 87.4 $ 220,860 92.9 Brokerage and Logistics Services revenue 11,856 12.9 6,122 7.5 33,552 12.6 16,800 7.1 Total revenues $ 92,076 100.0 $ 82,158 100.0 $ 265,813 100.0 $ 237,660 100.0

Note G - Accumulated Other Co27

Note G - Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Unrealized gains and losses on available-for-sale securities (in thousands) Balance at June 30, 2015, net of tax of $4,014 $ 6,559 Other comprehensive loss before reclassifications, net of tax benefit of $(940) (1,537 ) Amounts reclassified from accumulated other comprehensive income, net of tax benefit of $220 359 Net current-period other comprehensive loss (1,178 ) Balance at September 30, 2015, net of tax of $3,294 $ 5,381 Balance at December 31, 2014, net of tax of $3,918 $ 6,402 Other comprehensive loss before reclassifications, net of tax benefit of $(844) (1,380 ) Amounts reclassified from accumulated other comprehensive income, net of tax benefit of $220 359 Net current-period other comprehensive loss (1,021 ) Balance at September 30, 2015, net of tax of $3,294 $ 5,381
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	Amounts Reclassified from Accumulated Other Comprehensive Income (a) Details about Accumulated Other Comprehensive Income Component Nine Months Ended September 30, 2015 Statement of Operations Classification (in thousands) Unrealized gains and losses on available-for-sale securities: Impairment expense $ (579 ) Non-operating (expense) income Total before tax (579 ) Income before income taxes Tax benefit 220 Income tax expense Total after tax $ (359 ) Net income

Note H - Earnings Per Share (Ta

Note H - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2015 2014 2015 2014 (in thousands, except per share data) Net income $ 5,795 $ 5,057 $ 18,203 $ 11,359 Basic weighted average common shares outstanding 7,186 7,993 7,346 7,990 Dilutive effect of common stock equivalents 33 39 39 44 Diluted weighted average common shares outstanding 7,219 8,032 7,385 8,034 Basic earnings per share $ 0.81 $ 0.63 $ 2.48 $ 1.42 Diluted earnings per share $ 0.80 $ 0.63 $ 2.46 $ 1.41

Note J - Fair Value of Financ29

Note J - Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	Total Level 1 Level 2 Level 3 (in thousands) Marketable equity securities $ 24,952 $ 24,952 - -
Fair Value, by Balance Sheet Grouping [Table Text Block]	Carrying Value Estimated Fair Value (in thousands) Long-term debt $ 118,230 $ 118,373

Note L - Off-balance Sheet Ar30

Note L - Off-balance Sheet Arrangements (Tables)	9 Months Ended
	Sep. 30, 2015
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	(in thousands) 2015 $ 1,801 2016 9,784 2017 6,128 2018 188 Total future minimum lease payments $ 17,901

Note C - Marketable Equity Se31

Note C - Marketable Equity Securities (Details Textual) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Available-for-sale Securities [Member]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ 5,381,000		$ 5,381,000		$ 6,402,000
Trading Securities, Accumulated Gross Recognized Loss	0	$ 0	0	$ 0
Marketable Securities, Reclassification			0	0
Available-for-sale Securities, Continuous Unrealized Loss Position, Twelve Months or Longer, Fair Value	0		0		0
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities	579,000		579,000	1,000
Accumulated Other Comprehensive Income (Loss), Net of Tax	5,381,000		5,381,000		6,402,000
Available-for-Sale Securities Net Unrealized Holding Gain (Loss), Net of Tax			(1,011,000)		237,000
Investment Income, Dividend	288,000	238,000
Trading Securities, Accumulated Gross Recognized Gain	59,000	$ 89,000	59,000	$ 89,000
Trading Securities Pledged as Collateral	$ 13,280,000		$ 13,280,000		$ 11,723,000

Note C - Cost, Market Value and

Note C - Cost, Market Value and Unrealized Gain/(Loss) on Equity Securities (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Available-for-sale securities
Fair market value	$ 24,736	$ 24,592
Cost	16,061	14,272
Unrealized gain	8,675	10,320
Trading securities
Fair market value	216	303
Cost	157	157
Unrealized gain	59	146
Fair market value	24,952	24,895
Cost	16,218	14,429
Unrealized gain	$ 8,734	$ 10,466

Note C - Unrealized Gains and L

Note C - Unrealized Gains and Losses on Marketable Securities (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Available-for-sale securities
Gross unrealized gains	$ 10,078	$ 10,710
Gross unrealized losses	1,403	390
Net unrealized gains	$ 8,675	$ 10,320

Note C - Recognized Gains (Loss

Note C - Recognized Gains (Losses) in Market Value for Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Trading securities
Recognized gain at beginning of period	$ 83	$ 57	$ 146	$ 8
Recognized gain at end of period	59	89	59	89
Net recognized (loss) gain for the period	(24)	32	(87)	81
Net recognized (loss) gain for the period, net of taxes	$ (15)	$ 20	$ (54)	$ 50

Note C - Realized Gains on Avai

Note C - Realized Gains on Available-for-sale Securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Realized gains
Sale proceeds	$ 18	$ 439	$ 18	$ 439
Cost of securities sold	4	156	4	156
Realized gains	14	283	14	283
Realized gains, net of taxes	$ 9	$ 171	$ 9	$ 171

Note C - Approximate Gross Unre

Note C - Approximate Gross Unrealized Losses and Fair Value of Securities in a Loss Position (Details) - Equity Securities [Member] - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Equity securities - Available-for-sale	$ 5,595	$ 3,961
Equity securities – Available-for-sale	1,403	390
Totals	5,595	3,961
Totals	$ 1,403	$ 390

Note D - Stock Based Compensa37

Note D - Stock Based Compensation (Details Textual) - USD ($)	3 Months Ended				9 Months Ended		12 Months Ended
	Sep. 30, 2015	Mar. 31, 2015	Sep. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Mar. 02, 2006
The 2006 Stock Option Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized								750,000
The 2014 Stock Option Plan [Member] | Restricted Stock [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent							85.00%
The 2014 Stock Option Plan [Member] | Nonqualified Options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period					5 years
The 2014 Stock Option Plan [Member] | Nonqualified Options [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period					10 years
The 2014 Stock Option Plan [Member] | Nonqualified Options [Member]
Share-based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period, Percentage					20.00%
The 2014 Stock Option Plan [Member] | Stock Award [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period					1,225
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 57.27
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period					1,225
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value					$ 57.27
Nonqualified Options [Member] | Annual Grant to Non-employee [Member]
Allocated Share-based Compensation Expense		$ 70,000		$ 60,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Grants in Period		175
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				504
Amortization, Current Year [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 50,000				$ 50,000
Amortization, Next Year [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	167,000				167,000
Amortization, Year 3 [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	109,000				109,000
Amortization, Year 4 [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	68,000				68,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value					158,000	$ 148,000
Allocated Share-based Compensation Expense	$ 49,000		$ 30,000		$ 218,000	$ 146,000
Allocated Share-based Compensation Expense, Impact on Earnings Per Share	$ 0.01				$ 0.02	$ 0.02
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 394,000				$ 394,000
Share Price	$ 33.05				$ 33.05
Employee Service Share-based Compensation, Cash Received from Exercise of Stock Options					$ 236,000	$ 841,000

Note D - Stock Option Activity

Note D - Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2015USD ($)$ / sharesshares
Outstanding (in shares) | shares	86,348
Outstanding (in dollars per share)	$ 11.09
Exercised (in shares) | shares	(20,250)
Exercised (in dollars per share)	$ 11.65
Outstanding (in shares) | shares	66,098
Outstanding (in dollars per share)	$ 10.92
Outstanding	4 years 146 days
Outstanding | $	$ 1,462,611	[1]
Exercisable (in shares) | shares	32,393
Exercisable (in dollars per share)	$ 10.88
Exercisable	2 years 109 days
Exercisable | $	$ 717,999	[1]
[1]	The intrinsic value of a stock option is the amount by which the market value of the underlying stock exceeds the exercise price of the option. The per share market value of our common stock, as determined by the closing price on September 30, 2015, was $33.05.

Note D - Summary of Nonvested O

Note D - Summary of Nonvested Options (Details)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Employee Stock Option [Member]
Nonvested at Beginning of Period (in shares) | shares	48,109
Nonvested -Weighted Average Grant Date Fair Value (in dollars per share)	$ 6.10
Vested - Number of Options (in shares) | shares	(14,404)
Vested - Average Grant Date Fair Value (in dollars per share)	$ 6.07
Nonvested at End of Period (in shares) | shares	33,705
Nonvested - Weighted Average Grant Date Fair Value (in dollars per share)	$ 6.11
Restricted Stock [Member]
Nonvested at Beginning of Period (in shares) | shares	7,600
Nonvested -Weighted Average Grant Date Fair Value (in dollars per share)	$ 42.65
Vested - Number of Options (in shares) | shares	(1,225)
Vested - Average Grant Date Fair Value (in dollars per share)	$ 57.27
Nonvested at End of Period (in shares) | shares	7,600
Nonvested - Weighted Average Grant Date Fair Value (in dollars per share)	$ 42.65
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares	1,225
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 57.27

Note D - Stock Option Activit40

Note D - Stock Option Activity by Exercise Price (Details)	9 Months Ended
	Sep. 30, 2015$ / sharesshares
Exercise Price 1 [Member]
Exercise Price (in dollars per share) | $ / shares	$ 10.44
Shares Under Outstanding Options (in shares)	15,000
Weighted-Average Remaining Contractual Term	2 years 146 days
Shares Under Exercisable Options (in shares)	15,000
Exercise Price 2 [Member]
Exercise Price (in dollars per share) | $ / shares	$ 10.90
Shares Under Outstanding Options (in shares)	6,000
Weighted-Average Remaining Contractual Term	1 year 255 days
Shares Under Exercisable Options (in shares)	6,000
Exercise Price 3 [Member]
Exercise Price (in dollars per share) | $ / shares	$ 10.90
Shares Under Outstanding Options (in shares)	29,600
Weighted-Average Remaining Contractual Term	6 years 255 days
Shares Under Exercisable Options (in shares)	2,000
Exercise Price 4 [Member]
Exercise Price (in dollars per share) | $ / shares	$ 11.22
Shares Under Outstanding Options (in shares)	7,498
Weighted-Average Remaining Contractual Term	5 years 73 days
Shares Under Exercisable Options (in shares)	1,393
Exercise Price 5 [Member]
Exercise Price (in dollars per share) | $ / shares	$ 11.54
Shares Under Outstanding Options (in shares)	4,000
Weighted-Average Remaining Contractual Term	1 year 146 days
Shares Under Exercisable Options (in shares)	4,000
Exercise Price 6 [Member]
Exercise Price (in dollars per share) | $ / shares	$ 11.75
Shares Under Outstanding Options (in shares)	4,000
Weighted-Average Remaining Contractual Term	146 days
Shares Under Exercisable Options (in shares)	4,000
Exercise Price (in dollars per share) | $ / shares
Shares Under Outstanding Options (in shares)	66,098
Weighted-Average Remaining Contractual Term	4 years 146 days
Shares Under Exercisable Options (in shares)	32,393

Note E - Segment Information (D

Note E - Segment Information (Details Textual)	9 Months Ended
	Sep. 30, 2015
Number of Operating Segments	2

Note E - Segment Revenue Reconc

Note E - Segment Revenue Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Truckload Services [Member]
Revenue, before fuel surcharge	$ 80,220	$ 76,036	$ 232,261	$ 220,860
Percentage of revenue, before fuel surcharges	87.10%	92.50%	87.40%	92.90%
Brokerage and Logistics Services [Member]
Revenue, before fuel surcharge	$ 11,856	$ 6,122	$ 33,552	$ 16,800
Percentage of revenue, before fuel surcharges	12.90%	7.50%	12.60%	7.10%
Revenue, before fuel surcharge	$ 92,076	$ 82,158	$ 265,813	$ 237,660
Percentage of revenue, before fuel surcharges	100.00%	100.00%	100.00%	100.00%

Note F - Treasury Stock (Detail

Note F - Treasury Stock (Details Textual) - USD ($)	Jul. 09, 2015	Sep. 30, 2015	Jun. 23, 2015	May. 22, 2015	Dec. 31, 2014	May. 31, 2014
The 2011 Authorization [Member]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased						500,000
Treasury Stock, Shares, Acquired		31,263
Treasury Stock, Value, Acquired, Cost Method		$ 1,495,000
Maximum [Member]
Treasury Stock, Shares, Tender Offer			150,000	80,000
Treasury Stock Share Price, Tender Offer				$ 63
Treasury Stock, Shares, Acquired	298,566
Treasury Stock, Value, Acquired, Cost Method	$ 17,783,000	$ 19,278,000
Treasury Stock Acquired, Average Cost Per Share	$ 59
Treasury Stock, Oversubscribed Shares Tendered	148,566
Treasury Stock, Shares		4,380,810			4,050,981
Treasury Stock, Value		$ 101,779,000			$ 82,501,000

Note G - Accumulated Other Co44

Note G - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member]
Balance	$ 6,559,000	$ 6,402,000
Other comprehensive loss before reclassifications, net of tax benefit of $(940)	(1,537,000)	(1,380,000)
Amounts reclassified from accumulated other comprehensive income, net of tax benefit of $220	359,000
Net current-period other comprehensive loss	(1,178,000)	(1,021,000)
Balance	5,381,000	5,381,000
Amounts reclassified from accumulated other comprehensive income, net of tax benefit of $220		359,000
Balance		6,402,000
Net current-period other comprehensive loss		(1,021,000)
Balance	$ 5,381,000	$ 5,381,000

Note G - Accumulated Other Co45

Note G - Accumulated Other Comprehensive Income (Loss) (Details) (Parentheticals) - Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
AOCI beginning balance, tax	$ 3,294	$ 3,294	$ 4,014	$ 3,918
OCI before reclassifications, tax	940	844
Reclassification from AOCI, tax	$ 220	$ 220

Note G - Reclassification Out o

Note G - Reclassification Out of Accumulated Other Comprehensive Income (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Impairment expense	$ (579)	[1]
Total before tax	(579)	[1]
Tax benefit	220	[1]
Net Income	(359)	[1]
Impairment expense	385
Total before tax	29,647
Tax benefit	(11,444)
Net Income	$ 18,203
[1]	Amounts in parentheses indicate debits to profit/loss

Note H - Earnings Per Share (De

Note H - Earnings Per Share (Details Textual) - shares	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	0

Note H - Computations of Basic

Note H - Computations of Basic and Diluted Earnings Per Share (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Net income	$ 5,795	$ 5,057	$ 18,203	$ 11,359
Basic weighted average common shares outstanding (in shares)	7,186	7,993	7,346	7,990
Dilutive effect of common stock equivalents (in shares)	33	39	39	44
Diluted weighted average common shares outstanding (in shares)	7,219	8,032	7,385	8,034
Basic (in dollars per share)	$ 0.81	$ 0.63	$ 2.48	$ 1.42
Diluted (in dollars per share)	$ 0.80	$ 0.63	$ 2.46	$ 1.41

Note I - Income Taxes (Details

Note I - Income Taxes (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Canada Revenue Agency [Member] | Earliest Tax Year [Member] | Foreign Tax Authority [Member]
Open Tax Year	2,012
Income Tax Examination, Penalties and Interest Expense	$ 0	$ 0
Statute of Limitations	3 years

Note J - Securities Measured at

Note J - Securities Measured at Fair Value on a Recurring Basis (Details)	Sep. 30, 2015USD ($)
Fair Value, Inputs, Level 1 [Member]
Fair market value	$ 24,952,000
Fair Value, Inputs, Level 2 [Member]
Fair market value	0
Fair Value, Inputs, Level 3 [Member]
Fair market value	0
Fair market value	$ 24,952,000

Note J - Fair Value of Long-ter

Note J - Fair Value of Long-term Debt Other Than Lines of Credit (Details) - Equipment Financing [Member] $ in Thousands	Sep. 30, 2015USD ($)
Long-term debt	$ 118,230
Long-term debt	$ 118,373

Note K - Notes Payable and Lo52

Note K - Notes Payable and Long-term Debt (Details Textual) $ in Millions	9 Months Ended
	Sep. 30, 2015USD ($)
Minimum [Member]
Debt Instrument, Term	3 years
Maximum [Member]
Debt Instrument, Term	5 years
Notes Payable to Bank, Noncurrent	$ 64.8
Long-term Debt, Weighted Average Interest Rate	2.17%

Note L - Off-balance Sheet Ar53

Note L - Off-balance Sheet Arrangements (Details Textual) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Operating Leases, Rent Expense	$ 2.7	$ 7.7

Note L - Off-balance Sheet Ar54

Note L - Off-balance Sheet Arrangements (Details) $ in Thousands	Sep. 30, 2015USD ($)
2,015	$ 1,801
2,016	9,784
2,017	6,128
2,018	188
Total future minimum lease payments	$ 17,901

Note M - Litigation (Details Te

Note M - Litigation (Details Textual) - USD ($)	Mar. 31, 2015	Dec. 31, 2014
Estimated Litigation Liability	$ 3,450,000	$ 3,950,000