FOR IMMEDIATE RELEASE
VAN BUREN, ARKANSAS December 5, 2007
USA Truck, Inc. (NASDAQ: USAK) today announced that on December 4, 2007, the U.S. District Court for the Eastern District of Arkansas entered its order addressing the parties’ post-trial motions in the lawsuit against us entitled All-Ways Logistics, Inc. v. USA Truck, Inc. As previously reported, in early August, the jury returned an unfavorable verdict in this lawsuit, finding that USA Truck breached a contract agreement and awarding the plaintiff damages of approximately $3.0 million, which was accrued during the quarter ended September 30, 2007. Any additional amounts owed in relation to pre-judgment interest, legal fees and costs were not determined at that time.
In its December 4, 2007 order, the court denied substantially all of USA Truck’s motions for post-trial relief and granted the plaintiff’s motions for pre-judgment interest, attorney’s fees and costs in an amount totaling approximately $1.6 million. The Company will accrue this additional amount during the fourth quarter.
We strongly disagree with the verdict and the court’s order and we are exploring our appeal options.
This press release contains forward-looking statements and information that are based on our current expectations and assumptions we have made based upon information currently available. Forward-looking statements include statements relating to our plans, strategies, objectives, expectations, intentions and adequacy of resources, and may be identified by words such as “could,” “should,” “may,” “believe,” “expect,” “intend,” “plan,” “schedule,” “estimate,” “project” and similar expressions. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we cannot assure you that such expectations will be realized. If one or more of the risks or uncertainties underlying such expectations materialize, or if underlying assumptions prove incorrect, actual results may vary materially from those expected. Additional risks associated with our operations are discussed in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31, 2006, and our subsequent quarterly reports on Form 10-Q.
All forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by this cautionary statement.
We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this press release might not occur.
References to the “Company,” “we,” “us,” “our” and words of similar import refer to USA Truck, Inc. and its subsidiary.
USA Truck is a dry van truckload carrier transporting general commodities via our General, Regional and Dedicated Freight divisions. We transport commodities throughout the continental United States and into and out of portions of Canada. We also transport general commodities into and out of Mexico by allowing through-trailer service from our terminal in Laredo, Texas. Our Third Party Logistics and Strategic Capacity Solutions (freight brokerage) divisions provide customized transportation solutions using our technology and multiple modes of transportation including our assets and the assets of our partner carriers.
This press release will be available to interested parties at our web site, http://www.usa-truck.com under the “Financial Data” tab of the “Investor Relations” page.
-- --
Contact: CLIFF BECKHAM, Chief Executive Officer - (479) 471-2633
