USA Truck (USAK) 10-Q 3 Nov 17 2017 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2017	Oct. 25, 2017
Document Information [Line Items]
Entity Registrant Name	USA TRUCK INC
Entity Central Index Key	883,945
Trading Symbol	usak
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)		8,297,879
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Current assets:
Cash	$ 193	$ 122
Accounts receivable, net of allowance for doubtful accounts of $1,047 and $608, respectively	58,814	55,127
Other receivables	3,509	6,986
Inventories	427	413
Assets held for sale	622	4,661
Prepaid expenses and other current assets	3,451	6,187
Total current assets	67,016	73,496
Property and equipment:
Land and structures	32,493	31,500
Revenue equipment	254,462	269,953
Service, office and other equipment	25,256	25,295
Property and equipment, at cost	312,211	326,748
Accumulated depreciation and amortization	(117,206)	(106,465)
Property and equipment, net	195,005	220,283
Other assets	1,024	1,189
Total assets	263,045	294,968
Current liabilities:
Accounts payable	29,399	18,779
Current portion of insurance and claims accruals	11,736	10,665
Accrued expenses	7,665	7,533
Current maturities of capital leases	15,021	16,742
Insurance premium financing		3,943
Total current liabilities	63,821	57,662
Deferred gain	531	652
Long-term debt	77,500	96,600
Capital leases, less current maturities	28,382	35,133
Deferred income taxes	31,890	37,775
Insurance and claims accruals, less current portion	9,424	8,558
Total liabilities	211,548	236,380
Commitments and contingencies
Stockholders’ equity:
Preferred Stock, $.01 par value; 1,000,000 shares authorized; none issued
Common Stock, $.01 par value; 30,000,000 shares authorized; issued 12,149,376 shares, and 12,156,376 shares, respectively	121	122
Additional paid-in capital	68,498	68,375
Retained earnings	50,638	57,963
Less treasury stock, at cost (3,853,064 shares, and 3,849,815 shares, respectively)	(67,760)	(67,872)
Total stockholders’ equity	51,497	58,588
Total liabilities and stockholders’ equity	$ 263,045	$ 294,968

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Accounts receivable, allowance for doubtful accounts	$ 1,047	$ 608
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Peferred stock, shares authorized (in shares)	1,000,000	1,000,000
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)	30,000,000	30,000,000
Common stock, shares issued (in shares)	12,149,376	12,156,376
Treasury stock, shares (in shares)	3,853,064	3,849,815

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue
Operating revenue	$ 114,235	$ 105,458	$ 323,263	$ 325,964
Operating expenses
Salaries, wages and employee benefits	29,813	29,131	89,674	92,332
Fuel and fuel taxes	11,759	10,932	33,012	32,512
Depreciation and amortization	6,790	7,411	21,313	22,282
Insurance and claims	5,344	5,620	19,236	15,826
Equipment rent	2,703	1,861	7,449	5,582
Operations and maintenance	8,259	8,170	22,780	27,682
Purchased transportation	42,543	37,218	120,951	111,650
Operating taxes and licenses	972	1,003	2,946	3,384
Communications and utilities	679	673	1,943	2,404
Gain on disposal of assets, net	(215)	(181)	(551)	(759)
Restructuring, impairment and other costs				5,264
Other	3,784	3,578	12,071	10,683
Total operating expenses	112,431	105,416	330,824	328,842
Operating income (loss)	1,804	42	(7,561)	(2,878)
Other expenses
Interest expense, net	970	913	2,922	2,209
Other, net	86	87	311	423
Total other expenses, net	1,056	1,000	3,233	2,632
Income (loss) before income taxes	748	(958)	(10,794)	(5,510)
Income tax expense (benefit)	339	(224)	(3,469)	(1,623)
Consolidated net income (loss) and comprehensive income (loss)	$ 409	$ (734)	$ (7,325)	$ (3,887)
Net earnings (loss) per share
Average shares outstanding (basic) (in shares)	8,027	8,069	8,029	8,736
Basic income (loss) per share (in dollars per share)	$ 0.05	$ (0.09)	$ (0.91)	$ (0.44)
Average shares outstanding (diluted) (in shares)	8,039	8,069	8,029	8,736
Diluted loss per share (in dollars per share)	$ 0.05	$ (0.09)	$ (0.91)	$ (0.44)

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 9 months ended Sep. 30, 2017 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance (in shares) (Scenario, Previously Reported [Member]) at Dec. 31, 2016	12,156
Balance (in shares) at Dec. 31, 2016	12,156
Balance (Scenario, Previously Reported [Member]) at Dec. 31, 2016	$ 122	$ 68,041	$ 58,172	$ (67,872)	$ 58,463
Balance (Restatement Adjustment [Member], Accounting Standards Update 2016-09 [Member])		334	(209)		125
Balance at Dec. 31, 2016	122	68,375	57,963	(67,872)	58,588
Issuance of treasury stock		(170)		112	(58)
Stock-based compensation		289			289
Restricted stock award grant (in shares)	197
Restricted stock award grant	$ 1	(2)			(1)
Forfeited restricted stock (in shares)	(204)
Forfeited restricted stock	$ (2)	2
Net share settlement related to restricted stock vesting (in shares)
Net share settlement related to restricted stock vesting		4			4
Net loss			(7,325)		(7,325)
Balance (in shares) at Sep. 30, 2017	12,149
Balance at Sep. 30, 2017	$ 121	$ 68,498	$ 50,638	$ (67,760)	$ 51,497

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Operating activities:
Net loss	$ (7,325)	$ (3,887)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	21,313	22,282
Provision for doubtful accounts		458
Deferred income tax (benefit) provision, net	(5,885)	2,139
Share-based compensation	289	695
Gain on disposal of assets, net	(551)	(759)
Impairment of property and equipment		1,070
Other	(121)	(49)
Changes in operating assets and liabilities:
Accounts receivable	(1,766)	(3,257)
Inventories and prepaid expenses	2,722	1,575
Accounts payable and accrued liabilities	9,471	3,418
Insurance and claims accruals	1,937	1,315
Other long-term assets and liabilities	164	162
Net cash provided by operating activities	20,248	25,162
Investing activities:
Capital expenditures	(7,645)	(62,435)
Proceeds from sale of property and equipment	9,306	22,564
Proceeds from operating sale leaseback	10,980
Net cash provided by (used in) investing activities	12,641	(39,871)
Financing activities:
Borrowings under long-term debt	20,755	62,341
Payments on long-term debt	(44,065)	(33,041)
Payments on capitalized lease obligations	(8,205)	(7,530)
Net change in bank drafts payable	(1,249)	1,595
Excess tax benefit from exercise of stock options		(75)
Purchase of common stock		(28,372)
Proceeds from capital sale leaseback		19,927
Net payments on stock-based awards	4	(81)
Proceeds from issuance of treasury stock	(58)
Net cash (used in) provided by financing activities	(32,818)	14,764
(Decrease) increase in cash	71	55
Cash:
Beginning of period	122	87
End of period	193	142
Supplemental disclosure of cash flow information:
Interest	2,908	2,199
Income taxes	$ 138	$ 158

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 – BASIS OF PRESENTATION In the opinion of the management of USA Truck, Inc., the accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information. Certain information and footnote disclosures normally included in financial statements required by GAAP have been condensed or omitted. All normal recurring adjustments considered necessary for a fair presentation have been included. Operating results for the three nine September 30, 2017 not may December 31, 2017. 10 December 31, 2016. References to the “Company,” “we,” “us,” “our” or similar terms refer to USA Truck, Inc. and its subsidiary.

Note 2 - New Accounting Pronoun

Note 2 - New Accounting Pronouncements	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE 2 – NEW ACCOUNTING PRONOUNCEMENTS In May 2014, FASB”) issued Accounting Standards Update (“ASU”) No. 2014 09, 2014 09” 2014 09 2014 09 five may 2014 09 August 2015, 2015 14, 2014 09 December 15, 2017, The Company does not 2014 09 In February 2016, No. 2016 02, Leases not twelve first 2019, In March 2016, 2016 09, Improvements to Employee Share-Based Payment Accounting 2016 09 January 1, 2017. $0.1 December 31, 2016. no three nine September 30, 2017.

Note 3 - Note Receivable

Note 3 - Note Receivable	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	NOTE 3 – NOTE RECEIVABLE During 2010, $0.2 $2.1 which was recorded in the line item “Other Receivables” in the accompanying condensed consolidated balance sheets at December 31, 2016. November 2015. $0.7 The purchaser -debtor defaulted on the note receivable in November 2015, April 26, 2017, third $1.6 $1.4 second 2017, $0.2

Note 4 - Equity Compensation an

Note 4 - Equity Compensation and Employee Benefit Plans	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE 4 – EQUITY COMPENSATION AND EMPLOYEE BENEFIT PLANS The Company adopted the 2014 May 2014. the 2004 500,000 May 2017, 500,000 September 30, 2017, 590,969

Note 5 - Segment Reporting

Note 5 - Segment Reporting	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 5 – SEGMENT REPORTING The Company ’s two Trucking . Trucking is comprised of one USAT Logistics. USAT Logistics’ service offerings consist of freight brokerage, logistics, and rail intermodal services. Each of these service offerings match customer shipments with available equipment of authorized third In determining its reportable segments, the Company ’s management focuses on financial information, such as operating revenue, operating expense categories, operating ratios and operating income, as well as on key operating statistics, to make operating decisions. Revenue equipment a ssets are not third third A summary of operating revenue by segment is as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, Operating revenue 201 7 201 6 201 7 201 6 Trucking revenue (1) $ 76,811 $ 73,644 $ 219,013 $ 225,430 Trucking intersegment eliminations (361 ) (277 ) (738 ) (857 ) Trucking operating revenue 76,450 73,367 218,275 224,573 USAT Logistics revenue (2) 41,907 33,476 111,435 106,473 USAT Logistics intersegment eliminations (4,122 ) (1,385 ) (6,447 ) (5,082 ) USAT Logistics operating revenue 37,785 32,091 104,988 101,391 Total operating revenue $ 114,235 $ 105,458 $ 323,263 $ 325,964 ( 1 Includes foreign revenue of $9.6 $27.2 three nine September 30, 2017, $9.4 $28.7 three nine September 30, 2016, ( 2 USAT Logistics de Mexico was established on March 4, 2017. three nine September 30, 2017 $0.7 $0.9 A summary of operating income (loss) by segment is as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, Operating income (loss) 201 7 201 6 201 7 201 6 Trucking $ (1,194 ) $ (1,505 ) $ (13,165 ) $ (8,607 ) USAT Logistics 2,998 1,547 5,604 5,729 Total operating income (loss) $ 1,804 $ 42 $ (7,561 ) $ (2,878 ) A summary of depreciation and amortization by segment is as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, Depreciation and amortization 201 7 201 6 201 7 201 6 Trucking $ 6,659 $ 7,298 $ 20,982 $ 21,918 USAT Logistics 131 113 331 364 Total depreciation and amortization $ 6,790 $ 7,411 $ 21,313 $ 22,282

Note 6 - Accrued Expenses

Note 6 - Accrued Expenses	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	NOTE 6 – ACCRUED EXPENSES Accrued expenses consisted of the following (in thousands): September 30 , December 31, Accrued expenses 2017 2016 Salaries, wages and employee benefits $ 4,127 $ 2,480 Federal and state tax accruals 1,539 1,579 Restructuring, impairment and other costs (1) 841 1,404 Other (2) 1,158 2,070 Total accrued expenses $ 7,665 $ 7,533 ( 1 Refer to Note 12 ( 2 As of September 30, 2017 December 31, 2016, no 5.0%

Note 7 - Long-term Debt

Note 7 - Long-term Debt	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Long-term Debt [Text Block]	NOTE 7 – LONG-TERM DEBT Long-term debt consisted of the following (in thousands): September 30 , December 31, 2017 2016 Revolving credit agreement $ 77,500 $ 96,600 In February 2015, The Credit Facility is structured as a $170.0 , so long as no $80.0 $20.0 five February 5, 2020. 0.25% 1.00% 1.25% 2.00% two 30 $170.0 $15.0 $20.0 0.25% Borrowings under the Credit Facility are subject to a borrowing base limited to the lesser of (A) $170.0 90% 85% 85% eligible non-investment grade accounts receivable, plus (iii) the lesser of (a) 85% $10.0 85% 85% not The Credit Facility contains a single financial covenant, which requires a consolidated fixed charge coverage ratio of at least 1.0 1.0, 10% ’ total commitments. Management believes the Company’s excess availability will not 10%, $17.0 twelve Company no below $34.0 20% 2017 . The Credit Facility includes usual and customary events of default for a facility of this nature and provides that, upon the occurrence and continuation of an event of default, payment of all am ounts payable under the Credit Facility may may The Company had no September 30, 2017. September 30, 2017, 3.05%. September 30, 2017, $5.4 million in letters of credit and had approximately $45.4 .

Note 8 - Leases and Commitments

Note 8 - Leases and Commitments	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	Note 8 – LEASES AND Commitments A s of September 30, 2017, one one . 2017 2018 2019 2020 2021 Thereafter Capital leases $ 16,125 $ 8,073 $ 14,859 $ 6,158 $ -- $ -- Operating leases 11,178 8,845 6,299 852 256 499 CAPITAL LEASES The Company leases certain equipment under capital leases with terms ranging from 15 60 Capitalized Costs Accumulated Amortization Net Book Value September 30 , 2017 $ 69,367 $ 23,824 $ 45,543 December 31, 201 6 69,748 17,428 52,320 The Company has capitalized lease obligations relating to revenue equipment as of September 30, 2017 $43.4 $15.0 October 2020 nil 3.11% September 30, 2017. $1.6 $5.2 three nine September 30, 2017, $1.8 $4.3 three nine September 30, 2016, OPERATING LEASES Rent expense associated with operating leases was $3.2 $8.7 three nine September 30, 2017, $2.3 $7.2 three nine September 30, 2016, During the first 2017, $11.0 41 $0.03 OTHER COMMITMENTS As of September 30, 2017, $3.3 none

Note 9 - Income Taxes

Note 9 - Income Taxes	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 9 – INCOME tAXES During the three September 30, 2017 2016, 45.3% 23.4%, nine September 30, 2017 2016, 32.1% 29.5%, may When the result of the expected annual effective tax rate is not and distorts the income tax provision for an interim period, the Company calculates the income tax provision or benefit using the cut-off method, which results in an income tax provision or benefit based solely on the year-to-date pretax income or loss as adjusted for permanent differences on a pro rata basis.

Note 10 - Earnings (Loss) Per S

Note 10 - Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 10 – EARNINGS ( LOSS ) PER SHARE Basic earnings (loss) per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings (loss) per share is computed by adjusting the weighted average number of shares of common stock outstanding by common stock equivalents attributable to dilutive restricted stock. The computation of diluted earnings (loss) per share does not The following table sets forth the computation of basic and diluted earnings (loss) per share (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, Numerator: 2017 201 6 2017 201 6 Net income (loss) $ 409 $ (734 ) $ (7,325 ) $ (3,887 ) Denominator: Denominator for basic earnings (loss) per share – weighted average shares 8,027 8,069 8,029 8,736 Effect of dilutive securities: Employee restricted stock 12 -- -- -- Denominator for diluted earnings (loss) per share – adjusted weighted average shares and assumed conversion 8,039 8,069 8,029 8,736 Basic income (loss) per share $ 0.05 $ (0.09 ) $ (0.91 ) $ (0.44 ) Diluted income (loss) per share $ 0.05 $ (0.09 ) $ (0.91 ) $ (0.44 ) Weighted average anti-dilutive employee restricted stock -- 17 2 12

Note 11 - Legal Proceedings

Note 11 - Legal Proceedings	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	NOTE 11 – LEGAL PROCEEDINGS The Company is party to routine litigation incidental to its business, primarily involving claims for personal injury and property damage incurred in the transportation of freight. The Company maintains insurance to cover liabilities in excess of certain self-insured retention levels. Though management believes these claims to be immaterial to the Company ’s long-term financial position, adverse results of one

Note 12 - Restructuring, Impair

Note 12 - Restructuring, Impairment and Other Costs	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	NOTE 1 2 – RESTRUCTURING, IMPAIRMENT AND OTHER COSTS During 2016, The Company closed a total of four The following table s summarize the Company’s liabilities, charges, and cash payments related to the restructuring plan made during the nine September 30, 2017 ( Accrued Balance December 31, 2016 Costs Incurred Payments Expenses/ Charges Accrued Balance September 30, 2017 Compensation and benefits $ 81 $ -- $ (81 ) $ -- $ -- Facility closing expenses 1,323 -- (482 ) -- 841 Total $ 1,404 $ -- $ (563 ) $ -- $ 841 Three Months Ended September 30, Nine Months Ended September 30, Costs i ncurred 2017 2016 2017 2016 Trucking $ -- $ -- $ -- $ 4,848 USAT Logistics -- -- -- 416 Total $ -- $ -- $ -- $ 5,264 The following tables summarize the Company ’s liabilities, charges, and cash payments related to executive severance agreements made during the nine September 30, 2017 ( Accrued Balance December 31, 201 6 Costs Incurred Payments Expenses/ Charges Accrued Balance September 30, 2017 Severance costs in cluded in salaries, wages and employee benefits $ 277 $ 930 $ (1,022 ) $ -- $ 185 Three Months Ended September 30, Nine Months Ended September 30, Costs i ncurred 2017 2016 2017 2016 Trucking $ 23 $ -- $ 665 $ 697 USAT Logistics 8 -- 265 -- Total $ 31 $ -- $ 930 $ 697 In May 2016, ’s board of directors unanimously approved a separation agreement between Michael K. Borrows and the Company and accepted Mr. Borrows’ resignation as Executive Vice President and Chief Financial Officer. The Company recognized severance costs associated with Mr. Borrows’ departure of approximately $0.7 10 September 30, 2016. September 30, 2017, $43,000 In January 2017, ’s board of directors unanimously approved separation agreements between John R. Rogers (the “Rogers Separation Agreement”), the Company’s former President and Chief Executive Officer, and Christian C. Rhodes (the “Rhodes Separation Agreement”), the Company’s former Chief Information Officer. Per the material terms of the Rogers Separation Agreement, Mr. Rogers received (i) severance pay in the form of salary continuation payments equal to his base salary at the time his employment ended ( $425,000 twelve $120,000 $30,000 $171,125. $0.6 $0.2 September 30, 2017, $142,000 nil

Note 13 - Change in Estimate

Note 13 - Change in Estimate	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Accounting Changes and Error Corrections [Text Block]	NOTE 13 – CHANGE IN ESTIMATE The Company reviews the estimated useful lives and salvage values of its fixed assets on an ongoing basis, based upon, among other things, our experience with similar assets, conditions in the used revenue equipment market, and prevailing industry practic e. During the third 2017, 10 14 September 30, 2017, $0.2 $0.1 $0.01 September 30, 2017, $1.0 $0.08 September 30, 2017.

Note 14 - Subsequent Event

Note 14 - Subsequent Event	9 Months Ended
	Sep. 30, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 14 – SUBSEQUENT EVENT On October 1, 2017, $4.2 third ’s annual insurance premiums. The note, which is payable in quarterly installments of principal and interest of approximately $1.4 3.0%, October 2018.

Note 5 - Segment Reporting (Tab

Note 5 - Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, Operating revenue 201 7 201 6 201 7 201 6 Trucking revenue (1) $ 76,811 $ 73,644 $ 219,013 $ 225,430 Trucking intersegment eliminations (361 ) (277 ) (738 ) (857 ) Trucking operating revenue 76,450 73,367 218,275 224,573 USAT Logistics revenue (2) 41,907 33,476 111,435 106,473 USAT Logistics intersegment eliminations (4,122 ) (1,385 ) (6,447 ) (5,082 ) USAT Logistics operating revenue 37,785 32,091 104,988 101,391 Total operating revenue $ 114,235 $ 105,458 $ 323,263 $ 325,964 Three Months Ended Nine Months Ended September 30, September 30, Operating income (loss) 201 7 201 6 201 7 201 6 Trucking $ (1,194 ) $ (1,505 ) $ (13,165 ) $ (8,607 ) USAT Logistics 2,998 1,547 5,604 5,729 Total operating income (loss) $ 1,804 $ 42 $ (7,561 ) $ (2,878 ) Three Months Ended Nine Months Ended September 30, September 30, Depreciation and amortization 201 7 201 6 201 7 201 6 Trucking $ 6,659 $ 7,298 $ 20,982 $ 21,918 USAT Logistics 131 113 331 364 Total depreciation and amortization $ 6,790 $ 7,411 $ 21,313 $ 22,282

Note 6 - Accrued Expenses (Tabl

Note 6 - Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30 , December 31, Accrued expenses 2017 2016 Salaries, wages and employee benefits $ 4,127 $ 2,480 Federal and state tax accruals 1,539 1,579 Restructuring, impairment and other costs (1) 841 1,404 Other (2) 1,158 2,070 Total accrued expenses $ 7,665 $ 7,533

Note 7 - Long-term Debt (Tables

Note 7 - Long-term Debt (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	September 30 , December 31, 2017 2016 Revolving credit agreement $ 77,500 $ 96,600

Note 8 - Leases and Commitmen24

Note 8 - Leases and Commitments (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Lessee, Operating Lease, Disclosure [Table Text Block]	2017 2018 2019 2020 2021 Thereafter Capital leases $ 16,125 $ 8,073 $ 14,859 $ 6,158 $ -- $ -- Operating leases 11,178 8,845 6,299 852 256 499
Schedule of Capital Leased Assets [Table Text Block]	Capitalized Costs Accumulated Amortization Net Book Value September 30 , 2017 $ 69,367 $ 23,824 $ 45,543 December 31, 201 6 69,748 17,428 52,320

Note 10 - Earnings (Loss) Per25

Note 10 - Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, Numerator: 2017 201 6 2017 201 6 Net income (loss) $ 409 $ (734 ) $ (7,325 ) $ (3,887 ) Denominator: Denominator for basic earnings (loss) per share – weighted average shares 8,027 8,069 8,029 8,736 Effect of dilutive securities: Employee restricted stock 12 -- -- -- Denominator for diluted earnings (loss) per share – adjusted weighted average shares and assumed conversion 8,039 8,069 8,029 8,736 Basic income (loss) per share $ 0.05 $ (0.09 ) $ (0.91 ) $ (0.44 ) Diluted income (loss) per share $ 0.05 $ (0.09 ) $ (0.91 ) $ (0.44 ) Weighted average anti-dilutive employee restricted stock -- 17 2 12

Note 12 - Restructuring, Impa26

Note 12 - Restructuring, Impairment and Other Costs (Tables)	9 Months Ended
	Sep. 30, 2017
Notes Tables
Restructuring and Related Costs [Table Text Block]	Accrued Balance December 31, 2016 Costs Incurred Payments Expenses/ Charges Accrued Balance September 30, 2017 Compensation and benefits $ 81 $ -- $ (81 ) $ -- $ -- Facility closing expenses 1,323 -- (482 ) -- 841 Total $ 1,404 $ -- $ (563 ) $ -- $ 841 Accrued Balance December 31, 201 6 Costs Incurred Payments Expenses/ Charges Accrued Balance September 30, 2017 Severance costs in cluded in salaries, wages and employee benefits $ 277 $ 930 $ (1,022 ) $ -- $ 185
Restructuring and Related Costs By Segment [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, Costs i ncurred 2017 2016 2017 2016 Trucking $ -- $ -- $ -- $ 4,848 USAT Logistics -- -- -- 416 Total $ -- $ -- $ -- $ 5,264 Three Months Ended September 30, Nine Months Ended September 30, Costs i ncurred 2017 2016 2017 2016 Trucking $ 23 $ -- $ 665 $ 697 USAT Logistics 8 -- 265 -- Total $ 31 $ -- $ 930 $ 697

Note 2 - New Accounting Prono27

Note 2 - New Accounting Pronouncements (Details Textual) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Stockholders' Equity Attributable to Parent	$ 51,497	$ 58,588
Accounting Standards Update 2016-09 [Member] | Restatement Adjustment [Member]
Stockholders' Equity Attributable to Parent		$ 125

Note 3 - Note Receivable (Detai

Note 3 - Note Receivable (Details Textual) - USD ($) $ in Thousands	Apr. 26, 2017	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2010	Dec. 31, 2016
Proceeds from Sale of Real Estate					$ 200
Deferred Gain Sale Of Property					$ 700
Proceeds from Sale of Property, Plant, and Equipment			$ 9,306	$ 22,564
Gain (Loss) on Disposition of Property Plant Equipment		$ 200
Terminal Facility [Member]
Proceeds from Sale of Property, Plant, and Equipment	$ 1,600
Other Receivables [Member]
Financing Receivable, Net	$ 1,400					$ 2,100

Note 4 - Equity Compensation 29

Note 4 - Equity Compensation and Employee Benefit Plans (Details Textual) - Incentive Plan [Member] - shares	May 10, 2017	Sep. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	500,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant		590,969

Note 5 - Segment Reporting (Det

Note 5 - Segment Reporting (Details Textual) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)
Number of Reportable Segments				2
Revenues		$ 114,235	$ 105,458	$ 323,263	$ 325,964
Trucking [Member]
Revenues		76,450	73,367	218,275	224,573
Trucking [Member] | Operating Segments [Member]
Revenues	[1]	76,811	73,644	219,013	225,430
Trucking [Member] | Foreign Countries [Member] | Operating Segments [Member]
Revenues		9,600	9,400	27,200	28,700
USAT Logistics [Member]
Revenues		37,785	32,091	104,988	101,391
USAT Logistics [Member] | Operating Segments [Member]
Revenues	[2]	41,907	$ 33,476	111,435	$ 106,473
USAT Logistics [Member] | Foreign Countries [Member] | Operating Segments [Member]
Revenues		$ 700		$ 900
[1]	Includes foreign revenue of $9.6 million and $27.2 million for the three and nine months ended September 30, 2017, respectively, and $9.4 million and $28.7 million for the three and nine months ended September 30, 2016, respectively. All foreign revenue is collected in U.S. dollars.
[2]	USAT Logistics de Mexico was established on March 4, 2017. Foreign revenue for the three and nine months ended September 30, 2017 was $0.7 million and $0.9 million, respectively. All foreign revenue is collected in U.S. dollars.

Note 5 - Segment Reporting - Se

Note 5 - Segment Reporting - Segment Reporting Information by Segment (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues		$ 114,235	$ 105,458	$ 323,263	$ 325,964
Operating loss		1,804	42	(7,561)	(2,878)
Depreciation and amortization		6,790	7,411	21,313	22,282
Trucking [Member]
Revenues		76,450	73,367	218,275	224,573
USAT Logistics [Member]
Revenues		37,785	32,091	104,988	101,391
Operating Segments [Member] | Trucking [Member]
Revenues	[1]	76,811	73,644	219,013	225,430
Operating loss		(1,194)	(1,505)	(13,165)	(8,607)
Depreciation and amortization		6,659	7,298	20,982	21,918
Operating Segments [Member] | USAT Logistics [Member]
Revenues	[2]	41,907	33,476	111,435	106,473
Operating loss		2,998	1,547	5,604	5,729
Depreciation and amortization		131	113	331	364
Intersegment Eliminations [Member] | Trucking [Member]
Revenues		(361)	(277)	(738)	(857)
Intersegment Eliminations [Member] | USAT Logistics [Member]
Revenues		$ (4,122)	$ (1,385)	$ (6,447)	$ (5,082)
[1]	Includes foreign revenue of $9.6 million and $27.2 million for the three and nine months ended September 30, 2017, respectively, and $9.4 million and $28.7 million for the three and nine months ended September 30, 2016, respectively. All foreign revenue is collected in U.S. dollars.
[2]	USAT Logistics de Mexico was established on March 4, 2017. Foreign revenue for the three and nine months ended September 30, 2017 was $0.7 million and $0.9 million, respectively. All foreign revenue is collected in U.S. dollars.

Note 6 - Accrued Expenses - Sum

Note 6 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands		Sep. 30, 2017	Dec. 31, 2016
Salaries, wages and employee benefits		$ 4,127	$ 2,480
Federal and state tax accruals		1,539	1,579
Restructuring, impairment and other costs	[1]	841	1,404
Other	[2]	1,158	2,070
Total accrued expenses		$ 7,665	$ 7,533
[1]	Refer to Note 12 for additional information regarding the restructuring, impairment and other costs.
[2]	As of September 30, 2017 and December 31, 2016, no single item included within other accrued expenses exceeded 5.0% of our total current liabilities.

Note 7 - Long-term Debt (Detail

Note 7 - Long-term Debt (Details Textual) - USD ($) $ in Thousands	1 Months Ended
	Feb. 28, 2015	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Dec. 31, 2016
Line of Credit Facility, Remaining Borrowing Capacity				$ 45,400
Debt, Weighted Average Interest Rate				3.05%
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 170,000
Line Of Credit Facility Additional Borrowing Capacity	80,000
Line of Credit Facility, Additional Borrowing Capacity, Incremental Amount	$ 20,000
Debt Instrument, Term	5 years
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Debt Instrument, Covenant, Fixed Charge Coverage Ratio	1
Minimum Excess Availability Percentage of Maximum Revolver Amount	10.00%
Line of Credit Facility, Remaining Borrowing Capacity				$ 5,400
Long-term Line of Credit				77,500	$ 96,600
Revolving Credit Facility [Member] | Overnight Borrowings [Member]
Long-term Line of Credit				$ 0
Revolving Credit Facility [Member] | Through May 31, 2016 [Member] | Minimum [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.25%
Revolving Credit Facility [Member] | Through May 31, 2016 [Member] | Maximum [Member] | Base Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	1.00%
Revolving Credit Facility [Member] | After May 31, 2016 [Member] | Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.25%
Revolving Credit Facility [Member] | After May 31, 2016 [Member] | Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate	2.00%
Revolving Credit Facility [Member] | Eligible Investment Grade Accounts Receivable [Member]
Borrowing Based Treshhold, Percentage	85.00%
Revolving Credit Facility [Member] | Eligible Investment Grade Accounts Receivable [Member] | Minimum [Member]
Borrowing Based Treshhold, Percentage	85.00%
Revolving Credit Facility [Member] | Eligible Investment Grade Accounts Receivable [Member] | Maximum [Member]
Borrowing Based Treshhold, Percentage	90.00%
Revolving Credit Facility [Member] | Eligible Unbilled Accounts Receivable [Member]
Borrowing Based Treshhold, Percentage	85.00%
Revolving Credit Facility [Member] | Eligible Revenue Equipment [Member]
Borrowing Based Treshhold, Percentage	85.00%
Borrowing Base Before Additions	$ 10,000
Revolving Credit Facility [Member] | Newly Acquired Revenue Equipment [Member]
Borrowing Based Treshhold, Percentage	85.00%
Revolving Credit Facility [Member] | Scenario, Forecast [Member]
Minimum Excess Availability Percentage of Maximum Revolver Amount		10.00%
Line of Credit Facility, Remaining Borrowing Capacity		$ 17,000	$ 34,000
Availability Percentage of Maximum Revolver Amount			20.00%
Letter of Credit Sub Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 15,000
Swing Line Sub Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 20,000

Note 7 - Long-term Debt - Summa

Note 7 - Long-term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Revolving Credit Facility [Member]
Revolving credit agreement	$ 77.5	$ 96.6

Note 8 - Leases and Commitmen35

Note 8 - Leases and Commitments (Details Textual) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Capital Lease Obligations	$ 43,400			$ 43,400
Capital Lease Obligations, Current	15,021			15,021		$ 16,742
Capital Leases, Income Statement, Amortization Expense	1,600		$ 1,800	5,200	$ 4,300
Operating Leases, Rent Expense	3,200		$ 2,300	8,700	7,200
Sale Leaseback Transaction, Net Proceeds, Investing Activities				10,980
Revenue and Non-revenue Equipment [Member]
Purchase Obligation	$ 3,300			$ 3,300
Sale-leaseback of Tractors to an Unrelated Party [Member]
Sale Leaseback Transaction, Net Proceeds, Investing Activities		$ 11,000
Lessee, Operating Lease, Term of Contract		3 years 150 days
Sale Leaseback Transaction, Deferred Gain, Net		$ 30
Minimum [Member]
Capital Lease Term				1 year 90 days
Minimum [Member] | Capital Lease Obligations [Member]
Debt Instrument, Interest Rate, Effective Percentage	0.00%			0.00%
Maximum [Member]
Capital Lease Term				5 years
Maximum [Member] | Capital Lease Obligations [Member]
Debt Instrument, Interest Rate, Effective Percentage	3.11%			3.11%

Note 8 - Leases and Commitmen36

Note 8 - Leases and Commitments - Future Minimum Lease Payments (Details) $ in Thousands	Sep. 30, 2017USD ($)
2,017	$ 16,125
2,018	8,073
2,019	14,859
2,020	6,158
2,021
Thereafter
2,017	11,178
2,018	8,845
2,019	6,299
2,020	852
2,021	256
Thereafter	$ 499

Note 8 - Leases and Commitmen37

Note 8 - Leases and Commitments - Capital Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Capitalized Costs	$ 69,367	$ 69,748
Accumulated Amortization	23,824	17,428
Net Book Value	$ 45,543	$ 52,320

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	45.30%	23.40%	32.10%	29.50%

Note 10 - Loss Per Share - Comp

Note 10 - Loss Per Share - Computation of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net loss	$ 409	$ (734)	$ (7,325)	$ (3,887)
Denominator:
Denominator for basic earnings (loss) per share – weighted average shares (in shares)	8,027	8,069	8,029	8,736
Effect of dilutive securities:
Employee restricted stock (in shares)	12
Denominator for diluted earnings (loss) per share – adjusted weighted average shares and assumed conversion (in shares)	8,039	8,069	8,029	8,736
Basic income (loss) per share (in dollars per share)	$ 0.05	$ (0.09)	$ (0.91)	$ (0.44)
Diluted income (loss) per share (in dollars per share)	$ 0.05	$ (0.09)	$ (0.91)	$ (0.44)
Weighted average anti-dilutive employee restricted stock (in shares)		17	2	12

Note 12 - Restructuring, Impa40

Note 12 - Restructuring, Impairment and Other Costs (Details Textual)		1 Months Ended		3 Months Ended		9 Months Ended		12 Months Ended
		Jan. 31, 2017USD ($)	May 31, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Dec. 31, 2016USD ($)
Restructuring and Related Cost, Number of Facilities Closed								4
Restructuring Charges							$ 5,264,000
Restructuring Reserve	[1]			841,000		841,000		$ 1,404,000
Employee Severance [Member]
Restructuring Charges
Restructuring Reserve								$ 81,000
Employee Severance [Member] | Separation Agreement [Member]
Restructuring Reserve				43,000		43,000
Employee Severance [Member] | Separation Agreement [Member] | Salaries, Wages and Employee Benefits [Member]
Restructuring Charges			$ 700,000
Employee Severance [Member] | Rogers Separation Agreement [Member]
Restructuring Reserve				142,000		142,000
Deferred Compensation Arrangement with Individual, Term for Base Salary Continuation		1 year
Employee Severance [Member] | Rogers Separation Agreement [Member] | Base Salary Continuation [Member]
Deferred Compensation Arrangement with Individual, Distribution Paid		$ 425,000
Employee Severance [Member] | Rogers Separation Agreement [Member] | Separation Payment [Member]
Deferred Compensation Arrangement with Individual, Distribution Paid		120,000
Employee Severance [Member] | Rogers Separation Agreement [Member] | Moving and Transition Expenses [Member]
Deferred Compensation Arrangement with Individual, Distribution Paid		30,000
Employee Severance [Member] | Rogers Separation Agreement [Member] | Salaries, Wages and Employee Benefits [Member]
Restructuring Charges		600,000
Employee Severance [Member] | Rhodes Separation Agreement [Member]
Restructuring Reserve				$ 0		$ 0
Deferred Compensation Arrangement with Individual, Distribution Paid		171,125
Employee Severance [Member] | Rhodes Separation Agreement [Member] | Salaries, Wages and Employee Benefits [Member]
Restructuring Charges		$ 200,000
[1]	Refer to Note 12 for additional information regarding the restructuring, impairment and other costs.

Note 12 - Restructuring, Impa41

Note 12 - Restructuring, Impairment and Other Costs - Restructuring and Related Charges (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Accrued balance	[1]			$ 1,404
Costs incurred					$ 5,264
Payments				(563)
Expenses/charges
Accrued balance	[1]	841		841
Employee Severance [Member]
Accrued balance				81
Costs incurred
Payments				(81)
Expenses/charges
Accrued balance
Executive Severance [Member]
Accrued balance				277
Costs incurred		31		930	$ 697
Payments				(1,022)
Expenses/charges
Accrued balance		185		185
Facility Closing [Member]
Accrued balance				1,323
Costs incurred
Payments				(482)
Expenses/charges
Accrued balance		$ 841		$ 841
[1]	Refer to Note 12 for additional information regarding the restructuring, impairment and other costs.

Note 12 - Restructuring, Impa42

Note 12 - Restructuring, Impairment and Other Costs - Restructuring Costs by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Costs incurred				$ 5,264
Executive Severance [Member]
Costs incurred	31		930	697
Trucking [Member]
Costs incurred				4,848
Trucking [Member] | Executive Severance [Member]
Costs incurred	23		665	697
USAT Logistics [Member]
Costs incurred				$ 416
USAT Logistics [Member] | Executive Severance [Member]
Costs incurred	$ 8		$ 265

Note 13 - Change in Estimate (D

Note 13 - Change in Estimate (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2017
Service Life [Member]
Change in Accounting Estimate, Reduction in Depreciation Expense, Before Tax	$ 0.2
Change in Accounting Estimate, Reduction in Depreciation Expense, Net of Tax	$ 0.1
Impact of Change in Accounting Estimate on Earnings Per Share, Diluted	$ 0.01
Change In Accounting Estimate, Annual Reduction in Depreciation Expense, Before Tax			$ 1
Impact of Change in Accounting Estimate from Annual Reduction in Depreciation on Earnings Per Share, Diluted			$ 0.08
Transportation Equipment [Member]
Property, Plant and Equipment, Useful Life	14 years	10 years

Note 14 - Subsequent Event (Det

Note 14 - Subsequent Event (Details Textual) - Subsequent Event [Member] - Notes Payable, Other Payables [Member] $ in Millions	Oct. 01, 2017USD ($)
Debt Instrument, Face Amount	$ 4.2
Debt Instrument, Periodic Payment	$ 1.4
Debt Instrument, Interest Rate, Stated Percentage	3.00%