Marten Transport (MRTN) 10-Q 8 Nov 13 2013 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Sep. 30, 2013	Oct. 29, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'MARTEN TRANSPORT LTD	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	33,247,969
Amendment Flag	'false	'
Entity Central Index Key	'0000799167	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Accelerated Filer	'
Entity Well-known Seasoned Issuer	'No	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'

Consolidated_Condensed_Balance

Consolidated Condensed Balance Sheets (Unaudited) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Current assets:	'	'
Cash and cash equivalents	$1,072	$3,473
Receivables:	'	'
Trade, net	72,659	66,239
Other	4,678	7,177
Prepaid expenses and other	12,748	15,490
Deferred income taxes	3,468	3,155
Total current assets	94,625	95,534
Property and equipment:	'	'
Revenue equipment, buildings and land, office equipment and other	583,445	551,136
Accumulated depreciation	-163,171	-156,660
Net property and equipment	420,274	394,476
Other assets	3,527	613
TOTAL ASSETS	518,426	490,623
Current liabilities:	'	'
Accounts payable and accrued liabilities	38,140	33,062
Insurance and claims accruals	13,824	13,838
Total current liabilities	51,964	46,900
Long-term debt, less current maturities	821	2,726
Deferred income taxes	114,082	109,074
Total liabilities	166,867	158,700
Marten Transport, Ltd. stockholders’ equity:	'	'
Preferred stock, $.01 par value per share; 2,000,000 shares authorized; no shares issued and outstanding	'	'
Common stock, $.01 par value per share; 48,000,000 shares authorized; 33,229,969 shares at September 30, 2013, and 33,164,428 shares at December 31, 2012, issued and outstanding	332	332
Additional paid-in capital	83,969	82,679
Retained earnings	267,258	246,349
Total Marten Transport, Ltd. stockholders’ equity	351,559	329,360
Noncontrolling interest	'	2,563
Total stockholders’ equity	351,559	331,923
STOCKHOLDERS’ EQUITY	$518,426	$490,623

Consolidated_Condensed_Balance1

Consolidated Condensed Balance Sheets (Unaudited) (Parentheticals) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Preferred stock, par value (in Dollars per share)	$0.01	$0.01
Preferred stock, shares authorized (in Shares)	2,000,000	2,000,000
Preferred stock, shares issued (in Shares)	0	0
Preferred stock, shares outstanding (in Shares)	0	0
Common stock, par value (in Dollars per share)	$0.01	$0.01
Common stock, shares authorized (in Shares)	48,000,000	48,000,000
Common stock, shares issued (in Shares)	33,229,969	33,164,428
Common stock, shares outstanding (in Shares)	33,229,969	33,164,428

Consolidated_Condensed_Stateme

Consolidated Condensed Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
OPERATING REVENUE	$167,103	$163,606	$492,990	$472,044
OPERATING EXPENSES (INCOME):	'	'	'	'
Salaries, wages and benefits	43,310	42,352	127,780	120,021
Purchased transportation	30,136	32,428	92,449	92,021
Fuel and fuel taxes	42,547	43,020	123,466	121,659
Supplies and maintenance	10,296	10,581	29,827	29,958
Depreciation	16,248	15,537	48,155	45,114
Operating taxes and licenses	1,811	1,694	5,406	4,893
Insurance and claims	5,741	4,809	17,360	15,816
Communications and utilities	1,305	1,265	3,850	3,637
Gain on disposition of revenue equipment	-1,472	-1,349	-5,124	-4,053
Other	3,528	3,429	10,509	10,336
Total operating expenses	153,450	153,766	453,678	439,402
OPERATING INCOME	13,653	9,840	39,312	32,642
OTHER	-130	-6	-298	-40
INCOME BEFORE INCOME TAXES	13,783	9,846	39,610	32,682
Less: Income before income taxes attributable to noncontrolling interest	'	61	84	467
INCOME BEFORE INCOME TAXES	'	'	'	'
ATTRIBUTABLE TO MARTEN TRANSPORT, LTD.	13,783	9,785	39,526	32,215
PROVISION FOR INCOME TAXES	5,806	3,267	16,680	12,667
NET INCOME	$7,977	$6,518	$22,846	$19,548
BASIC EARNINGS PER COMMON SHARE (in Dollars per share)	$0.24	$0.20	$0.69	$0.59
DILUTED EARNINGS PER COMMON SHARE (in Dollars per share)	$0.24	$0.20	$0.68	$0.59
DIVIDENDS PAID PER COMMON SHARE (in Dollars per share)	$0.03	$0.02	$0.06	$0.05

Consolidated_Condensed_Stateme1

Consolidated Condensed Statements of Stockholders Equity (Unaudited) (USD $)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
In Thousands
Balance at Dec. 31, 2011	$330	$80,078	$237,762	$2,189	$320,359
Balance (in Shares) at Dec. 31, 2011	32,977	'	'	'	'
Net income	'	'	19,548	'	19,548
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	1	615	'	'	616
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards (in Shares)	130	'	'	'	'
Tax benefits from share-based payment arrangement exercises	'	350	'	'	350
Share-based payment arrangement compensation expense	'	1,047	'	'	1,047
Dividends on common stock	'	'	-1,545	'	-1,545
Income before income taxes attributable to noncontrolling interest	'	'	'	467	467
Noncontrolling interest distributions	'	'	'	-230	-230
Balance at Sep. 30, 2012	331	82,090	255,765	2,426	340,612
Balance (in Shares) at Sep. 30, 2012	33,107	'	'	'	'
Net income	'	'	7,719	'	7,719
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	1	352	-1	'	352
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards (in Shares)	57	'	'	'	'
Tax benefits from share-based payment arrangement exercises	'	59	'	'	59
Share-based payment arrangement compensation expense	'	178	'	'	178
Dividends on common stock	'	'	-17,134	'	-17,134
Income before income taxes attributable to noncontrolling interest	'	'	'	30	30
Noncontrolling interest distributions	'	'	'	107	107
Balance at Dec. 31, 2012	332	82,679	246,349	2,563	331,923
Balance (in Shares) at Dec. 31, 2012	33,164	'	'	'	'
Net income	'	'	22,846	'	22,846
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	'	282	'	'	282
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards (in Shares)	66	'	'	'	'
Tax benefits from share-based payment arrangement exercises	'	146	'	'	146
Share-based payment arrangement compensation expense	'	862	'	'	862
Dividends on common stock	'	'	-1,937	'	-1,937
Income before income taxes attributable to noncontrolling interest	'	'	'	84	84
Noncontrolling interest distributions	'	'	'	-84	-84
Change to equity method of accounting	'	'	'	-2,563	-2,563
Balance at Sep. 30, 2013	$332	$83,969	$267,258	'	$351,559
Balance (in Shares) at Sep. 30, 2013	33,230	'	'	'	'

Consolidated_Condensed_Stateme2

Consolidated Condensed Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Operations:	'	'
Net income	$22,846	$19,548
Adjustments to reconcile net income to net cash flows from operating activities:	'	'
Depreciation	48,155	45,114
Gain on disposition of revenue equipment	-5,124	-4,053
Deferred income taxes	4,695	3,723
Tax benefits from share-based payment arrangement exercises	146	350
Excess tax benefits from share-based payment arrangement exercises	-122	-282
Share-based payment arrangement compensation expense	862	1,047
Income before income taxes attributable to noncontrolling interest	84	467
Equity in earnings from affiliate	-203	'
Changes in other current operating items:	'	'
Receivables	-7,725	-10,764
Prepaid expenses and other	2,501	2,240
Accounts payable and accrued liabilities	-252	5,114
Insurance and claims accruals	-14	285
Net cash provided by operating activities	65,849	62,789
CASH FLOWS USED FOR INVESTING ACTIVITIES:	'	'
Decrease in cash and cash equivalents resulting from change to equity method of accounting	-1,924	'
Other	-27	-27
Net cash used for investing activities	-64,728	-77,606
CASH FLOWS USED FOR FINANCING ACTIVITIES:	'	'
Borrowings under credit facility and long-term debt	77,546	14,216
Repayment of borrowings under credit facility and long-term debt	-79,451	-14,216
Dividends on common stock	-1,937	-1,545
Issuance of common stock from share-based payment arrangement exercises	282	616
Excess tax benefits from share-based payment arrangement exercises	122	282
Noncontrolling interest distributions	-84	-230
Net cash used for financing activities	-3,522	-877
NET CHANGE IN CASH AND CASH EQUIVALENTS	-2,401	-15,694
CASH AND CASH EQUIVALENTS:	'	'
Beginning of period	3,473	20,821
End of period	1,072	5,127
SUPPLEMENTAL NON-CASH DISCLOSURE:	'	'
Change in property and equipment not yet paid for	6,422	2,325
Cash paid for:	'	'
Interest	69	6
Income taxes	13,015	6,723
Revenue Equipment [Member]	'	'
CASH FLOWS USED FOR INVESTING ACTIVITIES:	'	'
Proceeds from disposition of property, plant, and equipment	35,321	41,521
Buildings And Land, Office Equipment And Other [Member]	'	'
CASH FLOWS USED FOR INVESTING ACTIVITIES:	'	'
Proceeds from disposition of property, plant, and equipment	2	554
Revenue Equipment [Member]	'	'
CASH FLOWS USED FOR INVESTING ACTIVITIES:	'	'
Additions to property, plant, and equipment	-85,864	-107,904
Buildings And Land, Office Equipment And Other [Member]	'	'
CASH FLOWS USED FOR INVESTING ACTIVITIES:	'	'
Additions to property, plant, and equipment	($12,236)	($11,750)

Note_1_Basis_of_Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Sep. 30, 2013
Disclosure Text Block [Abstract]	'
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	'
	(1)     Basis of Presentation
	The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles for interim financial statements, and therefore do not include all information and disclosures required by U.S. generally accepted accounting principles for complete financial statements. In the opinion of management, such statements reflect all adjustments (consisting of normal recurring adjustments) considered necessary to fairly present our consolidated financial condition, results of operations and cash flows for the interim periods presented. The results of operations for any interim period do not necessarily indicate the results for the full year. The unaudited interim consolidated financial statements should be read with reference to the consolidated financial statements and notes to consolidated financial statements in our 2012 Annual Report on Form 10-K.
	The accompanying unaudited consolidated condensed financial statements include the accounts of Marten Transport, Ltd., its subsidiaries and, through March 27, 2013, its 45% owned affiliate, MW Logistics, LLC (MWL). As of March 28, 2013, Marten Transport deconsolidated MWL as we are no longer the primary beneficiary of MWL (See Note 8).

Note_2_Earnings_Per_Common_Sha

Note 2 - Earnings Per Common Share	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	(2)     Earnings per Common Share
	Basic and diluted earnings per common share were computed as follows:
		Three Months				Nine Months
		Ended September 30,				Ended September 30,
	(In thousands, except per share amounts)	2013		2012		2013		2012
	Numerator:
	Net income	$	7,977	$	6,518	$	22,846	$	19,548
	Denominator:
	Basic earnings per common share - weighted-average shares		33,226		33,107		33,206		33,085
	Effect of dilutive stock options		249		116		183		140
	Diluted earnings per common share - weighted-average shares and assumed conversions		33,475		33,223		33,389		33,225
	Basic earnings per common share	$	0.24	$	0.2	$	0.69	$	0.59
	Diluted earnings per common share	$	0.24	$	0.2	$	0.68	$	0.59
	Options totaling 67,500 and 355,350 shares for the three-month and nine-month periods ended September 30, 2013, respectively, and 683,775 and 662,325 shares for the three-month and nine-month periods ended September 30, 2012, respectively, were outstanding but were not included in the calculation of diluted earnings per share because including the options in the denominator would be antidilutive, or decrease the number of weighted-average shares, due to their exercise prices exceeding the average market price of the common shares or due to inclusion of average unrecognized compensation expense in the calculation.
	Unvested performance unit awards totaling 49,404 shares for each of the three-month and nine-month periods ended September 30, 2013, and 44,324 and 71,903 shares for the three-month and nine-month periods ended September 30, 2012, respectively, were considered outstanding but were not included in the calculation of diluted earnings per share because inclusion of average unrecognized compensation expense in the calculation would cause the performance units to be antidilutive.

Note_3_Stock_Split

Note 3 - Stock Split	9 Months Ended
	Sep. 30, 2013
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	(3)     Stock Split
	On June 14, 2013, we effected a three -for- two stock split of our common stock, $.01 par value, in the form of a 50% stock dividend. Our consolidated condensed financial statements, related notes, and other financial data contained in this report have been adjusted to give retroactive effect to the stock split for all periods presented.

Note_4_LongTerm_Debt

Note 4 - Long-Term Debt	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	(4)     Long-Term Debt
	We maintain a credit agreement that provides for an unsecured committed credit facility which matures in May 2016. The aggregate principal amount of the credit facility of $50 million may be increased at our option, subject to completion of signed amendments with the lender, up to a maximum aggregate principal amount of $75 million. At September 30, 2013, there was an outstanding principal balance of $821,000 on the credit facility. As of that date, we had outstanding standby letters of credit of $8.3 million and remaining borrowing availability of $40.9 million. This facility bears interest at a variable rate based on the London Interbank Offered Rate or the lender’s Prime Rate, in each case plus/minus applicable margins. The weighted average interest rate for the facility was 0.99% at September 30, 2013.

Note_5_Related_Party_Transacti

Note 5 - Related Party Transactions	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	(5)     Related Party Transactions
	We purchase fuel and obtain tires and related services from Bauer Built, Inc., or BBI. Jerry M. Bauer, one of our directors, is the chairman of the board and chief executive officer and the principal stockholder of BBI. We paid BBI $449,000 in the first nine months of 2013 and $813,000 in the first nine months of 2012 for fuel and tire services. In addition, we paid $1.3 million in the first nine months of 2013 and $1.4 million in the first nine months of 2012 to tire manufacturers for tires that we purchased from the tire manufacturers but were provided by BBI. BBI received commissions from the tire manufacturers related to these purchases.
	We paid Durand Builders Service, Inc. $398,000 in the first nine months of 2012 for various construction projects. Larry B. Hagness, one of our directors, is the president and owner of Durand Builders Service, Inc.
	We provide transportation services to MWL as described in Note 8.

Note_6_Dividends

Note 6 - Dividends	9 Months Ended
	Sep. 30, 2013
Dividends [Abstract]	'
Dividends [Text Block]	'
	(6)     Dividends
	In August 2010, we announced that our Board of Directors approved a regular cash dividend program to our stockholders, subject to approval each quarter. Quarterly cash dividends of $0.017 per share of common stock were paid in each of March and May 2013, and of $0.025 per share of common stock was paid in September 2013.

Note_7_Accounting_for_Sharebas

Note 7 - Accounting for Share-based Payment Arrangement Compensation	9 Months Ended
	Sep. 30, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	(7)     Accounting for Share-based Payment Arrangement Compensation
	We account for share-based payment arrangements in accordance with Financial Accounting Standards Board Accounting Standards Codification, or FASB ASC, 718, Compensation – Stock Compensation. During the first nine months of 2013, there were no significant changes to the structure of our stock-based award plans. Pre-tax compensation expense related to stock options and performance unit awards recorded in the first nine months of 2013 and 2012 was $862,000 and $1.0 million, respectively. See Note 9 to our consolidated financial statements in our 2012 Annual Report on Form 10-K for a detailed description of stock-based awards under our 2005 Stock Incentive Plan and 1995 Stock Incentive Plan.

Note_8_Equity_Investment

Note 8 - Equity Investment	9 Months Ended
	Sep. 30, 2013
Business Combinations [Abstract]	'
Business Combination Disclosure [Text Block]	'
	(8)     Equity Investment
	We own a 45% equity interest in MWL, a third-party provider of logistics services to the transportation industry. A non-related party owns the other 55% equity interest in MWL. Pursuant to the guidance in the Variable Interest Entities (VIE) Subsections of FASB ASC 810, Consolidation, we included the accounts of MWL in our consolidated financial statements from April 1, 2004 to March 27, 2013, as we were deemed to be the entity’s primary beneficiary. On March 28, 2013, the other member of MWL made a capital contribution to MWL which triggered a VIE reconsideration event, and it was determined that MWL is no longer considered a VIE as of that date. Accordingly, we deconsolidated MWL and have accounted for our ownership interest in MWL under the equity method of accounting, effective as of March 28, 2013.
	Under the deconsolidation accounting guidelines, the investor’s opening investment is recorded at fair value as of the date of deconsolidation. The difference between this initial fair value of the investment and the net carrying value is recognized as a gain or loss in earnings. We completed a valuation analysis and have determined that the net carrying value of our equity interest in MWL as of March 28, 2013 of $2.6 million is equal to its fair value and, as such, no gain or loss was recognized upon deconsolidation of MWL. In determining the fair value, we utilized a combination of the income and market approaches, and equally weighed the business enterprise value of MWL provided by each approach. The income approach included the following inputs and assumptions: (a) an expectation regarding the growth of MWL’s revenue at a compounded average growth rate; (b) a perpetual long-term growth rate; and (c) a discount rate that was based on MWL’s estimated weighted average cost of capital. The market approach included a range of multiples of selected comparable companies applied to MWL’s financial metrics for the trailing twelve months in order to obtain an indication of MWL’s business enterprise value on a minority, marketable basis.
	Due to the significance of inputs used in determining the fair value of our equity interest in MWL that are unobservable, the investment is classified within Level 3 of the fair value hierarchy that prioritizes from Level 1 to Level 3 the inputs to fair value valuation techniques under the provisions of the accounting guidance for fair value measurements. Fair value measurements using Level 1 inputs provide the most reliable measure of fair value, while Level 3 inputs generally require significant management judgment.
	Following the deconsolidation, as an equity method investment, MWL is considered a related party. We received $6.3 million and $7.2 million of our revenue for loads transported by our tractors and arranged by MWL in the nine-month periods ended September 30, 2013 and September 30, 2012, respectively. Prior to deconsolidation effective March 28, 2013, these inter-segment revenues were eliminated in consolidation.  Inter-segment revenue eliminated in consolidation was $2.1 million and $7.2 million for the nine-month periods ended September 30, 2013 and September 30, 2012, respectively. As of September 30, 2013, we also had a trade receivable in the amount of $881,000 from MWL and an accrued liability of $2.3 million to MWL for the excess of payments by MWL’s customers into our lockbox account over the amounts drawn on the account by MWL.

Note_9_Fair_Value_of_Financial

Note 9 - Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	(9)     Fair Value of Financial Instruments
	The carrying amounts of accounts receivable and accounts payable approximate fair value because of the short maturity of these instruments. The carrying amount of our long-term debt approximates fair value as its interest rate is based upon prevailing market rates.

Note_10_Commitments_and_Contin

Note 10 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	(10)   Commitments and Contingencies
	We are committed to building construction and acquisition expenditures of $6.3 million in the remainder of 2013 and $1.5 million in 2014, along with operating lease obligation expenditures totaling $549,000 through 2016.
	We self-insure, in part, for losses relating to workers’ compensation, auto liability, general liability, cargo and property damage claims, along with employees’ health insurance with varying risk retention levels. We maintain insurance coverage for per-incident and total losses in excess of these risk retention levels in amounts we consider adequate based upon historical experience and our ongoing review, and reserve currently for the estimated cost of the uninsured portion of pending claims.
	We are also involved in other legal actions that arise in the ordinary course of business. In the opinion of management, based upon present knowledge of the facts, it is remote that the ultimate outcome of any such legal actions will have a material adverse effect upon our long-term financial position or results of operations.

Note_11_Business_Segments

Note 11 - Business Segments	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	(11)   Business Segments
	We have seven operating segments that have been aggregated into two reporting segments (Truckload and Logistics) for financial reporting purposes. The primary source of our operating revenue is truckload revenue, which we generate by transporting freight for our customers and report within our Truckload segment. Generally, we are paid by the mile for our services. We also derive truckload revenue from fuel surcharges, loading and unloading activities, equipment detention and other ancillary services.
	Our operating revenue also includes revenue reported within our Logistics segment, which consists of revenue from our internal brokerage and intermodal operations, and through our 45% interest in MWL, a third-party provider of logistics services to the transportation industry, until we deconsolidated MWL effective March 28, 2013. Brokerage services involve arranging for another company to transport freight for our customers while we retain the billing, collection and customer management responsibilities. Intermodal services involve the transport of our trailers on railroad flatcars for a portion of a trip, with the balance of the trip using our tractors or, to a lesser extent, contracted carriers.
	The following table sets forth for the periods indicated our operating revenue and operating income by segment. We do not prepare separate balance sheets by segment and, as a result, assets are not separately identifiable by segment.
			Three Months				Nine Months
			Ended September 30,				Ended September 30,
	(Dollars in thousands)		2013		2012		2013		2012
	Operating revenue:
	Truckload revenue, net of fuel surcharge revenue		$	103,145	$	96,938	$	298,106	$	280,284
	Truckload fuel surcharge revenue			27,135		25,931		80,760		77,305
	Total Truckload revenue			130,280		122,869		378,866		357,589
	Logistics revenue, net of intermodal fuel surcharge revenue(1)			31,397		36,408		98,878		102,889
	Intermodal fuel surcharge revenue			5,426		4,329		15,246		11,566
	Total Logistics revenue			36,823		40,737		114,124		114,455
	Total operating revenue		$	167,103	$	163,606	$	492,990	$	472,044
	Operating income:
	Truckload		$	12,267	$	7,938	$	33,643	$	26,039
	Logistics			1,386		1,902		5,669		6,603
	Total operating income		$	13,653	$	9,840	$	39,312	$	32,642
		-1	Logistics revenue is net of $2.1 million of inter-segment revenue in the nine-month period ended September 30, 2013 for loads transported by our tractors and arranged by MWL prior to the deconsolidation of MWL effective March 28, 2013. Such revenue has been eliminated in consolidation. Inter-segment revenue was $2.3 million and $7.2 million for the three-month and nine-month periods ended September 30, 2012.
	Truckload segment depreciation expense was $15.0 million and $14.3 million, and Logistics segment depreciation expense was $1.3 million and $1.2 million, in the three-month periods ended September 30, 2013 and September 30, 2012, respectively. Truckload segment depreciation expense was $44.5 million and $42.0 million, and Logistics segment depreciation expense was $3.7 million and $3.1 million, in the first nine months of 2013 and 2012, respectively.

Note_12_Use_of_Estimates

Note 12 - Use of Estimates	9 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	(12)   Use of Estimates
	We must make estimates and assumptions to prepare the consolidated condensed financial statements in conformity with U.S. generally accepted accounting principles. These estimates and assumptions affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities in the consolidated condensed financial statements and the reported amount of revenue and expenses during the reporting period. These estimates are primarily related to insurance and claims accruals and depreciation. Ultimate results could differ from these estimates.

Note_2_Earnings_Per_Common_Sha1

Note 2 - Earnings Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
		Three Months				Nine Months
		Ended September 30,				Ended September 30,
	(In thousands, except per share amounts)	2013		2012		2013		2012
	Numerator:
	Net income	$	7,977	$	6,518	$	22,846	$	19,548
	Denominator:
	Basic earnings per common share - weighted-average shares		33,226		33,107		33,206		33,085
	Effect of dilutive stock options		249		116		183		140
	Diluted earnings per common share - weighted-average shares and assumed conversions		33,475		33,223		33,389		33,225
	Basic earnings per common share	$	0.24	$	0.2	$	0.69	$	0.59
	Diluted earnings per common share	$	0.24	$	0.2	$	0.68	$	0.59

Note_11_Business_Segments_Tabl

Note 11 - Business Segments (Tables)	9 Months Ended
	Sep. 30, 2013
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
		Three Months				Nine Months
		Ended September 30,				Ended September 30,
	(Dollars in thousands)	2013		2012		2013		2012
	Operating revenue:
	Truckload revenue, net of fuel surcharge revenue	$	103,145	$	96,938	$	298,106	$	280,284
	Truckload fuel surcharge revenue		27,135		25,931		80,760		77,305
	Total Truckload revenue		130,280		122,869		378,866		357,589
	Logistics revenue, net of intermodal fuel surcharge revenue(1)		31,397		36,408		98,878		102,889
	Intermodal fuel surcharge revenue		5,426		4,329		15,246		11,566
	Total Logistics revenue		36,823		40,737		114,124		114,455
	Total operating revenue	$	167,103	$	163,606	$	492,990	$	472,044
	Operating income:
	Truckload	$	12,267	$	7,938	$	33,643	$	26,039
	Logistics		1,386		1,902		5,669		6,603
	Total operating income	$	13,653	$	9,840	$	39,312	$	32,642

Note_1_Basis_of_Presentation_D

Note 1 - Basis of Presentation (Details) (MWL [Member])	Sep. 30, 2013	Mar. 28, 2013
MWL [Member]	'	'
Note 1 - Basis of Presentation (Details) [Line Items]	'	'
Equity Method Investment, Ownership Percentage	45.00%	45.00%

Note_2_Earnings_Per_Common_Sha2

Note 2 - Earnings Per Common Share (Details)	8 Months Ended	3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2012
		Equity Option [Member]	Equity Option [Member]	Equity Option [Member]	Equity Option [Member]	Unvested Performance Unit Awards [Member]	Unvested Performance Unit Awards [Member]	Unvested Performance Unit Awards [Member]
Note 2 - Earnings Per Common Share (Details) [Line Items]	'	'	'	'	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	49,404	67,500	683,775	355,350	662,325	49,404	44,324	71,903

Note_2_Earnings_Per_Common_Sha3

Note 2 - Earnings Per Common Share (Details) - Earnings Per Common Share (USD $)	3 Months Ended			9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Numerator:	'	'	'	'	'
Net income (in Dollars)	$7,977	$7,719	$6,518	$22,846	$19,548
Denominator:	'	'	'	'	'
Basic earnings per common share - weighted-average shares	33,226	'	33,107	33,206	33,085
Effect of dilutive stock options	249	'	116	183	140
Diluted earnings per common share - weighted-average shares and assumed conversions	33,475	'	33,223	33,389	33,225
Basic earnings per common share (in Dollars per share)	$0.24	'	$0.20	$0.69	$0.59
Diluted earnings per common share (in Dollars per share)	$0.24	'	$0.20	$0.68	$0.59

Note_3_Stock_Split_Details

Note 3 - Stock Split (Details) (USD $)	0 Months Ended
	Jun. 14, 2013	Sep. 30, 2013	Dec. 31, 2012
Note 3 - Stock Split (Details) [Line Items]	'	'	'
Stockholders' Equity Note, Stock Split	'On June 14, 2013, we effected a three -for- two stock split of our common stock, $.01 par value, in the form of a 50% stock dividend.	'	'
Common Stock, Par or Stated Value Per Share (in Dollars per share)	'	$0.01	$0.01
Stockholders' Equity Note, Stock Split, Stock Dividend Percentage	50.00%	'	'
Conversion Ratio Numerator [Member]	'	'	'
Note 3 - Stock Split (Details) [Line Items]	'	'	'
Stockholders' Equity Note, Stock Split, Conversion Ratio	3	'	'
Conversion Ratio Denominator [Member]	'	'	'
Note 3 - Stock Split (Details) [Line Items]	'	'	'
Stockholders' Equity Note, Stock Split, Conversion Ratio	2	'	'

Note_4_LongTerm_Debt_Details

Note 4 - Long-Term Debt (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Debt Disclosure [Abstract]	'
Line of Credit Facility, Expiration Date	31-May-16
Line of Credit Facility, Current Borrowing Capacity	$50,000,000
Line of Credit Facility, Maximum Borrowing Capacity	75,000,000
Line of Credit Facility, Amount Outstanding	821,000
Letters of Credit Outstanding, Amount	8,300,000
Line of Credit Facility, Remaining Borrowing Capacity	$40,900,000
Debt, Weighted Average Interest Rate	0.99%

Note_5_Related_Party_Transacti1

Note 5 - Related Party Transactions (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Bauer Built Inc Direct Related Party [Member]	'	'
Note 5 - Related Party Transactions (Details) [Line Items]	'	'
Related Party Transaction, Amounts of Transaction	$449,000	$813,000
Indirect Related Party [Member]	'	'
Note 5 - Related Party Transactions (Details) [Line Items]	'	'
Related Party Transaction, Amounts of Transaction	1,300,000	1,400,000
Durand Builders Service Inc [Member]	'	'
Note 5 - Related Party Transactions (Details) [Line Items]	'	'
Related Party Transaction, Amounts of Transaction	'	$398,000

Note_6_Dividends_Details

Note 6 - Dividends (Details) (USD $)	1 Months Ended			3 Months Ended		9 Months Ended
	Sep. 30, 2013	31-May-13	Mar. 31, 2013	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Dividends [Abstract]	'	'	'	'	'	'	'
Common Stock, Dividends, Per Share, Cash Paid	$0.03	$0.02	$0.02	$0.03	$0.02	$0.06	$0.05

Note_7_Accounting_for_Sharebas1

Note 7 - Accounting for Share-based Payment Arrangement Compensation (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'	'
Stock or Unit Option Plan Expense	$862,000	$1,000,000

Note_8_Equity_Investment_Detai

Note 8 - Equity Investment (Details) (MWL [Member], USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Mar. 28, 2013
Note 8 - Equity Investment (Details) [Line Items]	'	'	'
Equity Method Investment, Ownership Percentage	45.00%	'	45.00%
Equity Method Investments	'	'	$2,600,000
Revenue from Related Parties	6,300,000	7,200,000	'
Due from Affiliates	881,000	'	'
Due to Affiliate	2,300,000	'	'
Intersegment Eliminations [Member]	'	'	'
Note 8 - Equity Investment (Details) [Line Items]	'	'	'
Revenue, Net	$2,100,000	$7,200,000	'
Percentage Owned By Non-Related Party [Member]	'	'	'
Note 8 - Equity Investment (Details) [Line Items]	'	'	'
Equity Method Investment, Ownership Percentage	55.00%	'	'

Note_10_Commitments_and_Contin1

Note 10 - Commitments and Contingencies (Details) (USD $)	9 Months Ended
	Sep. 30, 2013
Note 10 - Commitments and Contingencies (Details) [Line Items]	'
Operating Leases, Future Minimum Payments Due	$549,000
Building Construction And Acquisition [Member]	'
Note 10 - Commitments and Contingencies (Details) [Line Items]	'
Purchase Commitment, Remaining Minimum Amount Committed	6,300,000
Building Construction And Acquisition [Member]	'
Note 10 - Commitments and Contingencies (Details) [Line Items]	'
Long-term Purchase Commitment, Amount	$1,500,000

Note_11_Business_Segments_Deta

Note 11 - Business Segments (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Jun. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Mar. 28, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Truckload [Member]

Truckload [Member]

Truckload [Member]

Truckload [Member]

Logistics [Member]

Logistics [Member]

Logistics [Member]

Logistics [Member]

MWL [Member]

MWL [Member]

Intersubsegment Eliminations [Member]

Intersubsegment Eliminations [Member]

Intersubsegment Eliminations [Member]

Note 11 - Business Segments (Details) [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Operating Segments

'

'

7

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of Reportable Segments

'

'

2

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Equity Method Investment, Ownership Percentage

'

'

'

'

'

'

'

'

'

'

'

'

45.00%

45.00%

'

'

'

Revenues

$167,103,000

$163,606,000

$492,990,000

$472,044,000

'

'

'

'

'

'

'

'

'

'

$2,300,000

$2,100,000

$7,200,000

Depreciation, Depletion and Amortization

'

'

'

'

$15,000,000

$14,300,000

$44,500,000

$42,000,000

$1,300,000

$1,200,000

$3,700,000

$3,100,000

'

'

'

'

'

Note_11_Business_Segments_Deta1

Note 11 - Business Segments (Details) - Operating Revenue and Operating Income by Segment (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012
Segment Reporting Information [Line Items]	'		'		'		'
Operating Revenue	$167,103		$163,606		$492,990		$472,044
Operating Income	13,653		9,840		39,312		32,642
Truckload Revenue, Net of Fuel Surcharge [Member]	'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'
Operating Revenue	103,145		96,938		298,106		280,284
Truckload Fuel Surcharge Revenue [Member]	'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'
Operating Revenue	27,135		25,931		80,760		77,305
Total Truckload Revenue [Member]	'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'
Operating Revenue	130,280		122,869		378,866		357,589
Logistics Revenue, Net of Intermodal Fuel Surcharge [Member]	'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'
Operating Revenue	31,397	[1]	36,408	[1]	98,878	[1]	102,889	[1]
Intermodal Fuel Surcharge Revenue [Member]	'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'
Operating Revenue	5,426		4,329		15,246		11,566
Total Logistics Revenue [Member]	'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'
Operating Revenue	36,823		40,737		114,124		114,455
Truckload [Member]	'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'
Operating Income	12,267		7,938		33,643		26,039
Logistics [Member]	'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'
Operating Income	$1,386		$1,902		$5,669		$6,603
[1]	Logistics revenue is net of $2.1 million of inter-segment revenue in the nine-month period ended September 30, 2013 for loads transported by our tractors and arranged by MWL prior to the deconsolidation of MWL effective March 28, 2013. Such revenue has been eliminated in consolidation. Inter-segment revenue was $2.3 million and $7.2 million for the three-month and nine-month periods ended September 30, 2012.