Transport Corporation Of America (TCAM) 8-K Results of Operations and Financial Condition

Exhibit 99.2

Transport Corporation of America, Inc.
1715 Yankee Doodle Road
Eagan, MN 55121
Traded: Nasdaq: TCAM

COMPANY CONTACTS:
Michael Paxton Chairman, President and CEO (651) 686-2500	Keith Klein Chief Financial Officer (651) 686-2500

FOR IMMEDIATE RELEASE
Tuesday, October 25, 2005

CORRECTION - TRANSPORT CORPORATION OF AMERICA
REPORTS THIRD QUARTER RESULTS

MINNEAPOLIS, MINNESOTA, October 25, 2005 – On October 25, 2005, Transport Corporation of America, Inc. (NASDAQ: TCAM) issued a press release regarding its operating and financial results for the three and nine months ended September 30, 2005. The Company has revised the statement of operations to correct an error whereby the revenue equipment leases amount was erroneously transposed with the depreciation and amortization expense for the nine-month period ended September 30, 2005. This error did not have any impact on overall expenses or earnings per share. A corrected statement of operations is attached.

About Transport America

Transport Corporation of America, Inc., based in the Minneapolis — St. Paul metropolitan area, provides a wide range of truckload freight carriage and logistics services to customers in the United States and Canada. Transport America focuses on providing time-definite and other responsive services through its team of dedicated and committed employees supported by state-of-the-art technology and information systems.

This news release contains forward-looking statements regarding the Company. The Company wishes to caution readers not to place undue reliance on any forward-looking statements which speak only as of the date made. The following important factors, among other things, in some cases have affected and in the future could affect the Company’s actual results and could cause the Company’s actual financial performance to differ materially from that expressed in any forward-looking statement: (1) the highly competitive conditions that currently exist in the Company’s market and the Company’s ability to compete, (2) the Company’s ability to recruit, train, and retain qualified drivers, (3) increases in fuel prices, and the Company’s ability to recover these costs from its customers, (4) the impact of environmental standards and regulations on new revenue equipment, (5) changes in governmental regulations applicable to the Company’s operations, (6) adverse weather conditions, (7) accidents, (8) the financing and resale market for used revenue equipment, (9) changes in interest rates, (10) cost of liability insurance coverage, (11) changes in safety rating by Regulatory authorities, and (12) downturns in general economic conditions affecting the Company and its customers. The foregoing list should not be construed as exhaustive and the Company disclaims any obligation subsequently to revise or update any previously made forward-looking statements. Unanticipated events are likely to occur.

Financial Table to Follow...

TRANSPORT CORPORATION OF AMERICA, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
Three and Nine Months ended September 30, 2005 and 2004
(In thousands, except share and per share amounts)

	Three Months (Unaudited)										Nine Months (Unaudited)
	2005						2004				2005						2004
	Amount			%			Amount		%		Amount			%			Amount			%
Operating revenues	$	64,357			100.0		$	65,730		100.0	$	188,621			100.0		$	193,105			100.0
Operating expenses:
Salaries, wages, and benefits		19,655			30.6			19,888		30.2		57,976			30.8			57,365			29.7
Fuel, maintenance, and other expense		13,092			20.3			11,354		17.3		36,425			19.3			31,005			16.1
Purchased transportation		18,436			28.7			19,496		29.7		54,390			28.9			60,321			31.2
Revenue equipment leases		403			0.6			347		0.5		1,195			0.6			892			0.5
Depreciation and amortization		5,599			8.7			5,988		9.1		16,805			8.9			17,693			9.2
Insurance, claims, and damage		2,003			3.1			3,931		6.0		6,233			3.3			9,824			5.1
Taxes and licenses		1,075			1.7			1,142		1.7		3,357			1.8			3,391			1.8
Communication		339			0.5			441		0.7		1,206			0.6			1,339			0.7
Other general and administrative expenses		2,819			4.4			2,343		3.6		7,780			4.1			7,226			3.7
Impairment of sublease office space		—			—			—		—		—			—			190			0.1
Gain on disposition of equipment		(314	)		(0.5	)		—		—		(332	)		(0.2	)		(22	)		(0.1	)
Total operating expenses		63,107			98.1			64,930		98.8		185,035			98.1			189,224			98.0
Operating income		1,250			1.9			800		1.2		3,586			1.9			3,881			2.0
Interest expense, net		602			0.9			756		1.1		1,928			1.0			2,406			1.2
Earnings before income taxes		648			1.0			44		0.1		1,658			0.9			1,475			0.8
Income tax provision		215			0.3			8		0.0		617			0.3			573			0.3
Net earnings		433			0.7			36		0.1		1,041			0.6			902			0.5
Earnings per common share - basic	$	0.07					$	0.01			$	0.16					$	0.13
Earnings per common share - diluted	$	0.07					$	0.01			$	0.16					$	0.13
Average common shares outstanding
Basic		6,563,440						6,523,417				6,554,142						6,788,123
Diluted		6,647,913						6,655,208				6,672,350						6,904,551