Marten Transport (MRTN) 10-Q 8 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Jul. 27, 2017
Document Information [Line Items]
Entity Registrant Name	MARTEN TRANSPORT LTD
Entity Central Index Key	799,167
Trading Symbol	mrtn
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)		54,512,774
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash and cash equivalents	$ 10,058	$ 488
Receivables:
Trade, net	67,174	69,199
Other	5,657	4,436
Prepaid expenses and other	17,635	19,307
Total current assets	100,524	93,430
Property and equipment:
Revenue equipment, buildings and land, office equipment and other	775,149	759,553
Accumulated depreciation	(206,943)	(201,728)
Net property and equipment	568,206	557,825
Other assets	1,854	2,493
Total assets	670,584	653,748
Current liabilities:
Accounts payable and accrued liabilities	46,103	41,230
Insurance and claims accruals	21,811	19,440
Total current liabilities	67,914	60,670
Long-term debt		7,886
Deferred income taxes	148,046	147,854
Total liabilities	215,960	216,410
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; 96,000,000 shares authorized; 54,514,421 shares at June 30, 2017, and 54,391,525 shares at December 31, 2016, issued and outstanding	545	544
Additional paid-in capital	75,740	74,175
Retained earnings	378,339	362,619
Total stockholders’ equity	454,624	437,338
Total liabilities and stockholders’ equity	$ 670,584	$ 653,748

Consolidated Condensed Balance3

Consolidated Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
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)	96,000,000	96,000,000
Common stock, shares issued (in shares)	54,514,421	54,391,525
Common stock, shares outstanding (in shares)	54,514,421	54,391,525

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Operating revenue	$ 171,511	$ 166,090	$ 344,670	$ 328,019
Operating expenses (income):
Salaries, wages and benefits	56,715	56,196	113,115	111,026
Purchased transportation	27,516	26,187	56,878	54,222
Fuel and fuel taxes	25,007	23,930	50,963	43,560
Supplies and maintenance	10,541	10,908	21,531	21,407
Depreciation	21,306	20,368	42,689	40,415
Operating taxes and licenses	2,252	2,250	4,499	4,435
Insurance and claims	8,848	7,696	17,762	15,051
Communications and utilities	1,487	1,497	3,068	3,117
Other	4,141	4,985	7,632	10,022
Total operating expenses	155,942	151,314	315,163	299,118
Operating income	15,569	14,776	29,507	28,901
Other	125	237	266	452
Income before income taxes	15,444	14,539	29,241	28,449
Provision for income taxes	6,303	6,008	11,886	11,725
Net income	$ 9,141	$ 8,531	$ 17,355	$ 16,724
Basic earnings per common share (in dollars per share)	$ 0.17	$ 0.16	$ 0.32	$ 0.31
Diluted earnings per common share (in dollars per share)	0.17	0.16	0.32	0.31
Dividends declared per common share (in dollars per share)	$ 0.015	$ 0.015	$ 0.03	$ 0.03
Revenue Equipment [Member]
Operating expenses (income):
Gain on disposition of assets	$ (1,871)	$ (2,703)	$ (2,974)	$ (4,137)

Consolidated Condensed Stateme5

Consolidated Condensed Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2015	54,600
Balance at Dec. 31, 2015	$ 546	$ 76,468	$ 332,407	$ 409,421
Net income			16,724	16,724
Repurchase and retirement of common stock (in shares)	(759)
Repurchase and retirement of common stock	$ (8)	(7,508)	3	(7,513)
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards (in shares)	269
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	$ 3	2,052	(1)	2,054
Tax deficiencies from share-based payment arrangement exercises		(148)		(148)
Employee taxes paid in exchange for shares withheld		(127)		(127)
Share-based payment arrangement compensation expense		668		668
Dividends on common stock			(1,622)	(1,622)
Balance (in shares) at Jun. 30, 2016	54,110
Balance at Jun. 30, 2016	$ 541	71,405	347,511	419,457
Net income			16,740	16,740
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards (in shares)	282
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	$ 3	2,361	(2)	2,362
Tax benefits from share-based payment arrangement exercises		194		194
Share-based payment arrangement compensation expense		215		215
Dividends on common stock			(1,630)	(1,630)
Balance (in shares) at Dec. 31, 2016	54,392
Balance at Dec. 31, 2016	$ 544	74,175	362,619	437,338
Net income			17,355	17,355
Repurchase and retirement of common stock				0
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards (in shares)	122
Issuance of common stock from share-based payment arrangement exercises and vesting of performance unit awards	$ 1	882		883
Employee taxes paid in exchange for shares withheld		(47)		(47)
Share-based payment arrangement compensation expense		730		730
Dividends on common stock			(1,635)	(1,635)
Balance (in shares) at Jun. 30, 2017	54,514
Balance at Jun. 30, 2017	$ 545	$ 75,740	$ 378,339	$ 454,624

Consolidated Condensed Stateme6

Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows provided by operating activities:
Net income	$ 17,355	$ 16,724
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	42,689	40,415
Deferred income taxes	192	6,830
Tax deficiencies from share-based payment arrangement exercises		(148)
Share-based payment arrangement compensation expense	730	668
Distribution from affiliate	400
Equity in loss from affiliate	264	325
Changes in other current operating items:
Receivables	3,191	12,256
Prepaid expenses and other	1,672	1,012
Accounts payable and accrued liabilities	(670)	5,041
Insurance and claims accruals	2,371	1,165
Net cash provided by operating activities	65,220	80,151
Cash flows used for investing activities:
Other	(25)	(24)
Net cash used for investing activities	(46,965)	(39,678)
Cash flows used for financing activities:
Borrowings under credit facility and long-term debt	30,816	76,044
Repayment of borrowings under credit facility and long-term debt	(38,702)	(109,535)
Repurchase and retirement of common stock		(7,513)
Dividends on common stock	(1,635)	(1,622)
Issuance of common stock from share-based payment arrangement exercises	883	2,054
Employee taxes paid in exchange for shares withheld	(47)	(127)
Net cash used for financing activities	(8,685)	(40,699)
Net change in cash and cash equivalents	9,570	(226)
Cash and cash equivalents:
Beginning of period	488	434
End of period	10,058	208
Supplemental non-cash disclosure:
Change in property and equipment not yet paid	3,156	6,532
Income taxes	7,892	(3,631)
Interest	29	127
Revenue Equipment [Member]
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on disposition of assets	(2,974)	(4,137)
Cash flows used for investing activities:
Proceeds from revenue equipment dispositions	31,304	29,112
Revenue equipment additions	(76,210)	(66,009)
Buildings And Land Office Equipment And Other [Member]
Cash flows used for investing activities:
Proceeds from revenue equipment dispositions		7
Revenue equipment additions	$ (2,034)	$ (2,764)

Note 1 - Consolidated Condensed

Note 1 - Consolidated Condensed Financial Statements	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	( 1 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 not 2016 10

Note 2 - Earnings Per Common Sh

Note 2 - Earnings Per Common Share	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	( 2 Basic and diluted earnings per common share were computed as follows: Three Months Six Months Ended June 30, Ended June 30, (In thousands, except per share amounts) 2017 2016 2017 2016 Numerator: Net income $ 9,141 $ 8,531 $ 17,355 $ 16,724 Denominator: Basic earnings per common share - weighted-average shares 54,493 54,069 54,459 54,079 Effect of dilutive stock options 309 320 313 312 Diluted earnings per common share - weighted-average shares and assumed conversions 54,802 54,389 54,772 54,391 Basic earnings per common share $ 0.17 $ 0.16 $ 0.32 $ 0.31 Diluted earnings per common share $ 0.17 $ 0.16 $ 0.32 $ 0.31 Options totaling 373,667 380,000 three six June 30, 2017, 535,333 562,333 three six June 30, 2016, not Unvested performance unit awards totaling 132,305 three six June 30, 2017, 97,278 three six June 30, 2016, not

Note 3 - Stock Split

Note 3 - Stock Split	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	( 3 On July 7, 2017, five three $.01 66

Note 4 - Long-term Debt

Note 4 - Long-term Debt	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Debt Disclosure [Text Block]	( 4 We maintain a credit agreement that provides for an unsecured committed credit facility which matures in December 2019. April 2016, $75.0 $30.0 December 2016, $40.0 June 30, 2017, no $12.6 $27.4 December 31, 2016, $7.9 $11.2 1.46% December 31, 2016. Our credit facility prohibits us from paying, in any fiscal year, stock redemptions and dividends in excess of 25% 25% 2016 June 30, 2017 December 31, 2016.

Note 5 - Related Party Transact

Note 5 - Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	( 5 We purchase fuel and tires and obtain related services from Bauer Built, Inc., or BBI. Jerry M. Bauer, one $ 182,000 first six 2017 2016 $1.5 first six 2017 $928,000 first six 2016 We provide transportation services to MW Logistics, LLC (MWL) as described in Note 9.

Note 6 - Share Repurchase Progr

Note 6 - Share Repurchase Program	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Treasury Stock [Text Block]	( 6 In December 2007, one million 10b 18 November 2015, $40 2 not We repurchased and retired 759,302 $7.5 first 2016 not three 2016 first two 2017. fourth 2015 1.6 $16.2 five three July 7, 2017.

Note 7 - Dividends

Note 7 - Dividends	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Dividends [Text Block]	( 7 In 2010, $0.015 first two 2017 2016 $1.6 six 25% 25% 2016

Note 8 - Accounting for Share-b

Note 8 - Accounting for Share-based Payment Arrangement Compensation	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	( 8 We account for share-based payment arrangements in accordance with Financial Accounting Standards Board Accounting Standards Codification, or FASB ASC, 718, Compensation – Stock Compensation first six 2017, no first six 2017 2016 $730,000 $668,000, 11 2016 10 Effective January 1, 2017, No. 2016 09, $132,000 first six 2017, 2016. $30,000 first six 2016 2017

Note 9 - Equity Investment

Note 9 - Equity Investment	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Business Combination Disclosure [Text Block]	9 We own a 45% third 55% $384,000 $966,000 first six 2017 2016, June 30, 2017, $69,000 $665,000

Note 10 - Fair Value of Financi

Note 10 - Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Fair Value Disclosures [Text Block]	( 10 The carrying amounts of cash equivalents, accounts receivable and accounts payable approximate fair value because of the short maturity of these instruments.

Note 11 - Commitments and Conti

Note 11 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	( 11 We are committed to purchase $60.8 2017, $266,000 2020. 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 12 - Business Segments

Note 12 - Business Segments	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	( 12 We aggregate our five four The primary source of our operating revenue is provided by our Truckload segment through a combination of regional short-haul and medium-to-long-haul full-load transportation services. We transport food and other consumer packaged goods that require a temperature-controlled or insulated environment, along with dry freight, across the United States and into and out of Mexico and Canada. Our Dedicated segment provides customized transportation solutions tailored to meet individual customers’ requirements, utilizing temperature-controlled trailers, dry vans and other specialized equipment within the United States. Our customer contracts range from three five Our Intermodal segment transports our customers’ freight within the United States utilizing our temperature-controlled trailers on railroad flatcars for portions of trips, with the balance of the trips using our tractors or, to a lesser extent, contracted carriers. Our Brokerage segment develops contractual relationships with and arranges for third 2007 The following table sets forth for the periods indicated our operating revenue and operating income by segment. We do not not Three Months Six Months Ended June 30, Ended June 30, (Dollars in thousands) 2017 2016 2017 2016 Operating revenue: Truckload revenue, net of fuel surcharge revenue $ 84,480 $ 85,103 $ 169,291 $ 168,045 Truckload fuel surcharge revenue 10,434 8,933 21,281 16,045 Total Truckload revenue 94,914 94,036 190,572 184,090 Dedicated revenue, net of fuel surcharge revenue 38,601 36,654 75,500 72,164 Dedicated fuel surcharge revenue 2,901 2,621 6,279 4,208 Total Dedicated revenue 41,502 39,275 81,779 76,372 Intermodal revenue, net of fuel surcharge revenue 16,877 16,118 33,688 31,972 Intermodal fuel surcharge revenue 2,238 1,664 4,613 3,011 Total Intermodal revenue 19,115 17,782 38,301 34,983 Brokerage revenue 15,980 14,997 34,018 32,574 Total operating revenue $ 171,511 $ 166,090 $ 344,670 $ 328,019 Operating income: Truckload $ 7,511 $ 6,951 $ 13,485 $ 13,891 Dedicated 5,074 5,134 9,561 9,458 Intermodal 2,040 1,822 4,189 3,751 Brokerage 944 869 2,272 1,801 Total operating income $ 15,569 $ 14,776 $ 29,507 $ 28,901 Truckload segment depreciation expense was $14.4 $13.9 $5.4 $5.1 $1.1 $987,000, $344,000 $376,000, three June 30, 2017 2016, $29.0 $27.6 $10.8 $10.0 $2.2 $1.9 $678,000 $857,000, six June 30, 2017 2016,

Note 13 - Use of Estimates

Note 13 - Use of Estimates	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
Significant Accounting Policies [Text Block]	( 13 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 14 - Recent Accounting Pro

Note 14 - Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	( 14 In May 2014, No. 2014 09, No. 2016 08, 606 first 2018, January 1, 2018 In February 2016, No. 2016 02, first 2019. not

Note 2 - Earnings Per Common 21

Note 2 - Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Six Months Ended June 30, Ended June 30, (In thousands, except per share amounts) 2017 2016 2017 2016 Numerator: Net income $ 9,141 $ 8,531 $ 17,355 $ 16,724 Denominator: Basic earnings per common share - weighted-average shares 54,493 54,069 54,459 54,079 Effect of dilutive stock options 309 320 313 312 Diluted earnings per common share - weighted-average shares and assumed conversions 54,802 54,389 54,772 54,391 Basic earnings per common share $ 0.17 $ 0.16 $ 0.32 $ 0.31 Diluted earnings per common share $ 0.17 $ 0.16 $ 0.32 $ 0.31

Note 12 - Business Segments (Ta

Note 12 - Business Segments (Tables)	6 Months Ended
	Jun. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Six Months Ended June 30, Ended June 30, (Dollars in thousands) 2017 2016 2017 2016 Operating revenue: Truckload revenue, net of fuel surcharge revenue $ 84,480 $ 85,103 $ 169,291 $ 168,045 Truckload fuel surcharge revenue 10,434 8,933 21,281 16,045 Total Truckload revenue 94,914 94,036 190,572 184,090 Dedicated revenue, net of fuel surcharge revenue 38,601 36,654 75,500 72,164 Dedicated fuel surcharge revenue 2,901 2,621 6,279 4,208 Total Dedicated revenue 41,502 39,275 81,779 76,372 Intermodal revenue, net of fuel surcharge revenue 16,877 16,118 33,688 31,972 Intermodal fuel surcharge revenue 2,238 1,664 4,613 3,011 Total Intermodal revenue 19,115 17,782 38,301 34,983 Brokerage revenue 15,980 14,997 34,018 32,574 Total operating revenue $ 171,511 $ 166,090 $ 344,670 $ 328,019 Operating income: Truckload $ 7,511 $ 6,951 $ 13,485 $ 13,891 Dedicated 5,074 5,134 9,561 9,458 Intermodal 2,040 1,822 4,189 3,751 Brokerage 944 869 2,272 1,801 Total operating income $ 15,569 $ 14,776 $ 29,507 $ 28,901

Note 2 - Earnings Per Common 23

Note 2 - Earnings Per Common Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	373,667	535,333	380,000	562,333
Unvested Performance Unit Awards [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	132,305	97,278	132,305	97,278

Note 2 - Earnings Per Common 24

Note 2 - Earnings Per Common Share - Basic and Diluted Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Net income	$ 9,141	$ 8,531	$ 17,355	$ 16,740	$ 16,724
Basic earnings per common share - weighted-average shares (in shares)	54,493	54,069	54,459		54,079
Effect of dilutive stock options (in shares)	309	320	313		312
Diluted earnings per common share - weighted-average shares and assumed conversions (in shares)	54,802	54,389	54,772		54,391
Basic earnings per common share (in dollars per share)	$ 0.17	$ 0.16	$ 0.32		$ 0.31
Diluted earnings per common share (in dollars per share)	$ 0.17	$ 0.16	$ 0.32		$ 0.31

Note 3 - Stock Split (Details T

Note 3 - Stock Split (Details Textual) - $ / shares	Jul. 07, 2017	Jun. 30, 2017	Dec. 31, 2016
Common Stock, Par or Stated Value Per Share		$ 0.01	$ 0.01
Subsequent Event [Member]
Common Stock, Par or Stated Value Per Share	$ 0.01
Stock Issued During Period, Percentage of Shares, Stock Split	66.67%
Stock Split from [Member] | Subsequent Event [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	5
Stock Split To [Member] | Subsequent Event [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	3

Note 4 - Long-term Debt (Detail

Note 4 - Long-term Debt (Details Textual) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016	Apr. 25, 2016	Nov. 30, 2015
Line of Credit Facility, Maximum Borrowing Capacity		$ 40,000	$ 30,000	$ 75,000
Line of Credit Facility, Remaining Borrowing Capacity	$ 27,400
Long-term Line of Credit	0	7,900
Letters of Credit Outstanding, Amount	$ 12,600	$ 11,200
Line Of Credit Facility Dividend Restrictions Percentage Of Net Income Limit	25.00%
Credit Facility [Member]
Long-term Debt, Weighted Average Interest Rate, at Point in Time		1.46%

Note 5 - Related Party Transa27

Note 5 - Related Party Transactions (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Purchase Of Fuel Tires And Related Services [Member]
Related Party Transaction, Amounts of Transaction	$ 182,000	$ 182,000
Tire Purchases [Member]
Related Party Transaction, Amounts of Transaction	$ 1,500,000	$ 928,000

Note 6 - Share Repurchase Pro28

Note 6 - Share Repurchase Program (Details Textual) $ in Thousands	Jul. 07, 2017	Mar. 31, 2016USD ($)shares	Dec. 31, 2015USD ($)shares	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Dec. 31, 2016USD ($)	Nov. 04, 2015USD ($)shares	Dec. 31, 2007shares
Stock Repurchase Program, Authorized Amount | $							$ 40,000
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | shares							2,000,000	1,000,000
Stock Repurchased and Retired During Period, Value | $		$ 7,500	$ 16,200	$ 0	$ 7,513	$ 0
Stock Repurchased and Retired During Period, Shares | shares		759,302	1,600,000
Stock Split from [Member] | Subsequent Event [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	5
Stock Split To [Member] | Subsequent Event [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	3

Note 7 - Dividends (Details Tex

Note 7 - Dividends (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Payments of Ordinary Dividends, Common Stock	$ 1,635	$ 1,622
Line Of Credit Facility Dividend Restrictions Percentage Of Net Income Limit	25.00%
Paid Quarterly [Member]
Common Stock, Dividends, Per Share, Declared	$ 0.015	$ 0.015

Note 8 - Accounting for Share30

Note 8 - Accounting for Share-based Payment Arrangement Compensation (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Stock or Unit Option Plan Expense			$ 730,000	$ 668,000
Income Tax Expense (Benefit)	$ (6,303,000)	$ (6,008,000)	(11,886,000)	(11,725,000)
Net Cash Provided by (Used in) Operating Activities			65,220,000	80,151,000
Net Cash Provided by (Used in) Financing Activities			8,685,000	40,699,000
Accounting Standards Update 2016-09 [Member]
Income Tax Expense (Benefit)			$ (132,000)
Net Cash Provided by (Used in) Operating Activities				30,000
Net Cash Provided by (Used in) Financing Activities				$ (30,000)

Note 9 - Equity Investment (Det

Note 9 - Equity Investment (Details Textual) - M W L [Member] - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Equity Method Investment, Ownership Percentage	45.00%
Revenue from Related Parties	$ 384,000	$ 966,000
Due to Affiliate	665,000
Trade Accounts Receivable [Member]
Due from Affiliates	$ 69,000
Percentage Owned by Non-related Party [Member]
Equity Method Investment, Ownership Percentage	55.00%

Note 11 - Commitments and Con32

Note 11 - Commitments and Contingencies (Details Textual)	Jun. 30, 2017USD ($)
Operating Leases, Future Minimum Payments Due	$ 266,000
Revenue Equipment Expenditure [Member]
Contractual Obligation, Due in Next Fiscal Year	$ 60,800,000

Note 12 - Business Segments (De

Note 12 - Business Segments (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)
Number of Operating Segments			5
Number of Reportable Segments			4
Dedicated [Member]
Depreciation, Depletion and Amortization	$ 5,400,000	$ 5,100,000	$ 10,800,000	$ 10,000,000
Dedicated [Member] | Minimum [Member]
Customer Contract Term			3 years
Dedicated [Member] | Maximum [Member]
Customer Contract Term			5 years
Truckload [Member]
Depreciation, Depletion and Amortization	14,400,000	13,900,000	$ 29,000,000	27,600,000
Intermodal [Member]
Depreciation, Depletion and Amortization	1,100,000	987,000	2,200,000	1,900,000
Brokerage [Member]
Depreciation, Depletion and Amortization	$ 344,000	$ 376,000	$ 678,000	$ 857,000

Note 12 - Business Segments - O

Note 12 - Business Segments - Operating Revenue and Operating Income by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Operating revenue	$ 171,511	$ 166,090	$ 344,670	$ 328,019
Operating Income	15,569	14,776	29,507	28,901
Truckload [Member]
Operating revenue	94,914	94,036	190,572	184,090
Operating Income	7,511	6,951	13,485	13,891
Truckload [Member] | Revenue, Net of Fuel Surcharge [Member]
Operating revenue	84,480	85,103	169,291	168,045
Truckload [Member] | Fuel Surcharge Revenue [Member]
Operating revenue	10,434	8,933	21,281	16,045
Dedicated [Member]
Operating revenue	41,502	39,275	81,779	76,372
Operating Income	5,074	5,134	9,561	9,458
Dedicated [Member] | Revenue, Net of Fuel Surcharge [Member]
Operating revenue	38,601	36,654	75,500	72,164
Dedicated [Member] | Fuel Surcharge Revenue [Member]
Operating revenue	2,901	2,621	6,279	4,208
Intermodal [Member]
Operating revenue	19,115	17,782	38,301	34,983
Operating Income	2,040	1,822	4,189	3,751
Intermodal [Member] | Revenue, Net of Fuel Surcharge [Member]
Operating revenue	16,877	16,118	33,688	31,972
Intermodal [Member] | Fuel Surcharge Revenue [Member]
Operating revenue	2,238	1,664	4,613	3,011
Brokerage [Member]
Operating revenue	15,980	14,997	34,018	32,574
Operating Income	$ 944	$ 869	$ 2,272	$ 1,801