USA Truck (USAK) 10-Q 30 Apr 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2018	Apr. 20, 2018
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)		8,342,573
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Assets
Cash	$ 6	$ 71
Accounts receivable, net of allowance for doubtful accounts of $787 and $639, respectively	56,444	55,138
Other receivables	2,711	2,787
Inventories	428	458
Assets held for sale	151	112
Prepaid expenses and other current assets	6,655	6,025
Total current assets	66,395	64,591
Property and equipment:
Land and structures	31,679	31,452
Revenue equipment	249,132	252,484
Service, office and other equipment	26,363	26,209
Property and equipment, at cost	307,174	310,145
Accumulated depreciation and amortization	(127,471)	(122,329)
Property and equipment, net	179,703	187,816
Other assets	1,386	1,448
Total assets	247,484	253,855
Current liabilities:
Accounts payable	31,854	24,332
Current portion of insurance and claims accruals	14,922	13,552
Accrued expenses	10,619	9,108
Current maturities of capital leases	8,172	12,929
Insurance premium financing	1,330	4,115
Total current liabilities	66,897	64,036
Deferred gain	429	480
Long-term debt	53,750	61,225
Capital leases, less current maturities	27,600	29,216
Deferred income taxes	20,187	21,136
Insurance and claims accruals, less current portion	11,274	11,274
Total liabilities	180,137	187,367
Stockholders’ equity:
Preferred Stock, $0.01 par value; 1,000,000 shares authorized; none issued
Common Stock, $0.01 par value; 30,000,000 shares authorized; issued 12,090,812 shares, and 12,142,391 shares, respectively	121	121
Additional paid-in capital	66,397	68,667
Retained earnings	66,495	65,460
Less treasury stock, at cost (3,849,683 shares, and 3,853,064 shares, respectively)	(65,666)	(67,760)
Total stockholders’ equity	67,347	66,488
Total liabilities and stockholders’ equity	$ 247,484	$ 253,855

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Accounts receivable, allowance for doubtful accounts	$ 787	$ 639
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)	12,090,812	12,142,391
Treasury stock, shares (in shares)	3,849,683	3,853,064

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue
Operating revenue	$ 125,013	$ 101,670
Operating expenses
Salaries, wages and employee benefits	32,237	30,639
Fuel and fuel taxes	13,479	10,774
Depreciation and amortization	7,180	7,644
Insurance and claims	5,602	8,332
Equipment rent	2,718	2,114
Operations and maintenance	7,961	6,571
Purchased transportation	49,038	37,403
Operating taxes and licenses	502	950
Communications and utilities	713	666
Gain on disposal of assets, net	(169)	(260)
Reversal of restructuring, impairment and other costs	(639)
Other	3,999	3,236
Total operating expenses	122,621	108,069
Operating income (loss)	2,392	(6,399)
Other expenses
Interest expense, net	818	1,003
Other, net	120	98
Total other expenses, net	938	1,101
Income (loss) before income taxes	1,454	(7,500)
Income tax expense (benefit)	419	(2,610)
Net income (loss) and comprehensive income (loss)	$ 1,035	$ (4,890)
Net earnings (loss) per share
Average shares outstanding (basic) (in shares)	8,035	7,998
Basic earnings (loss) per share (in dollars per share)	$ 0.13	$ (0.61)
Average shares outstanding (diluted) (in shares)	8,040	7,998
Diluted earnings (loss) per share (in dollars per share)	$ 0.13	$ (0.61)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - 3 months ended Mar. 31, 2018 - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Balance (in shares) at Dec. 31, 2017	12,142
Balance at Dec. 31, 2017	$ 121	$ 68,667	$ 65,460	$ (67,760)	$ 66,488
Issuance of treasury stock		(2,094)		2,094
Stock-based compensation		(136)			(136)
Forfeited restricted stock (in shares)	(49)
Net share settlement related to restricted stock vesting (in shares)	(2)
Net share settlement related to restricted stock vesting		(40)			(40)
Net income (loss)			1,035		1,035
Balance (in shares) at Mar. 31, 2018	12,091
Balance at Mar. 31, 2018	$ 121	$ 66,397	$ 66,495	$ (65,666)	$ 67,347

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities:
Net income (loss)	$ 1,035	$ (4,890)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	7,180	7,644
Deferred income tax, net	(949)	(3,723)
Share-based compensation	(136)	21
Gain on disposal of assets, net	(169)	(260)
Reversal of restructuring, impairment and other costs	(639)
Other	(51)	(19)
Changes in operating assets and liabilities:
Accounts receivable	(1,230)	573
Inventories and prepaid expenses	(598)	(275)
Accounts payable and accrued liabilities	9,734	4,929
Insurance and claims accruals	1,369	3,737
Other long-term assets and liabilities	61	31
Net cash provided by operating activities	15,607	7,768
Investing activities:
Capital expenditures	(307)	(2,312)
Proceeds from sale of property and equipment	1,308	4,739
Proceeds from operating sale leaseback		10,980
Net cash provided by investing activities	1,001	13,407
Financing activities:
Borrowings under long-term debt	5,878	6,305
Payments on long-term debt	(16,138)	(24,044)
Payments on capitalized lease obligations	(6,373)	(2,771)
Net change in bank drafts payable		(667)
Net payments from stock based awards	(40)
Net cash used in financing activities	(16,673)	(21,177)
Decrease in cash	(65)	(2)
Cash:
Beginning of period	71	122
End of period	6	120
Supplemental disclosure of cash flow information:
Interest	834	993
Income taxes

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 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 March 31, 2018 not may December 31, 2018. 10 December 31, 2017. 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	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	NOTE 2 – NEW ACCOUNTING PRONOUNCEMENTS In May 2014, No. 2014 09, 2014 09” 2014 09 2014 09 five may 2014 09 not 2014 09 January 1, 2018 January 1, 2018 three March 31, 2018. In February 2016, No. 2016 02, not twelve first 2019, not 9

Note 3 - Revenue Recognition

Note 3 - Revenue Recognition	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE 3 – REVENUE RECOGNITION Revenue is measured based upon consideration specified in a contract with a customer. The Company recognizes revenue when contractual performance obligations are satisfied by transferring the benefit of the service to our customer. The benefit is transferred to the customer as the service is being provided and revenue is recognized accordingly via time based metrics. The Company is entitled to receive payment as it satisfies performance obligations with customers. Our business consists of two 4. Trucking Trucking is comprised of one USAT Logistics USAT Logistics’ service offerings consist of freight brokerage and rail intermodal services. The Company engages third third Disaggregation of revenue The Company’s revenue types are line haul, fuel surcharge and accessorial. Line haul revenue represents the majority of our revenue and consists of fees earned for freight transportation, excluding fuel surcharge. Fuel surcharge revenue consists of additional fees earned by the Company in connection with the performance of line haul services to partially or completely offset the cost of fuel. Accessorial revenue consists of ancillary services provided by the Company, including but not Three Months Ended March 31, 2018 Revenue type Trucking USAT Logistics Total Freight $ 66,804 $ 40,478 $ 107,282 Fuel surcharge 11,175 3,559 14,734 Accessorial 754 2,243 2,997 Total $ 78,733 $ 46,280 $ 125,013 Three Months Ended March 31, 2017 Revenue type Trucking USAT Logistics Total Freight $ 59,850 $ 28,101 $ 87,951 Fuel surcharge 9,187 2,655 11,842 Accessorial 1,243 634 1,877 Total $ 70,280 $ 31,390 $ 101,670

Note 4 - Equity Compensation an

Note 4 - Equity Compensation and Employee Benefit Plans	3 Months Ended
	Mar. 31, 2018
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. 2004 500,000 May 2017, 500,000 March 31, 2018, 546,697

Note 5 - Segment Reporting

Note 5 - Segment Reporting	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 5 – SEGMENT REPORTING The Company’s two Trucking one USAT Logistics 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 assets are not third third A summary of operating revenue by segment is as follows (in thousands): Three Months Ended March 31, Operating revenue 201 8 2017 Trucking revenue (1) $ 78,846 $ 70,471 Trucking intersegment eliminations (113 ) (191 ) Trucking operating revenue 78,733 70,280 USAT Logistics revenue (2) 46,775 32,650 USAT Logistics intersegment eliminations (495 ) (1,260 ) USAT Logistics operating revenue 46,280 31,390 Total operating revenue $ 125,013 $ 101,670 ( 1 Includes foreign revenue of $9.9 $8.8 three March 31, 2018 2017, ( 2 USAT Logistics de Mexico was dissolved during the first 2018. A summary of operating income (loss) by segment is as follows (in thousands): Three Months Ended March 31, Operating income (loss) 201 8 2017 Trucking $ (464 ) $ (7,128 ) USAT Logistics 2,856 729 Total operating income (loss) $ 2,392 $ (6,399 ) A summary of depreciation and amortization by segment is as follows (in thousands): Three Months Ended March 31, Depreciation and amortization 201 8 2017 Trucking $ 7,026 $ 7,564 USAT Logistics 154 80 Total depreciation and amortization $ 7,180 $ 7,644

Note 6 - Accrued Expenses

Note 6 - Accrued Expenses	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	NOTE 6 – ACCRUED EXPENSES Accrued expenses consisted of the following (in thousands): March 31 , December 31, Accrued expenses 2018 2017 Salaries, wages and employee benefits $ 4,862 $ 3,604 Federal and state tax accruals 4,684 3,587 Restructuring, impairment and other costs (1) -- 770 Other (2) 1,073 1,147 Total accrued expenses $ 10,619 $ 9,108 ( 1 Refer to Note 13 ( 2 As of March 31, 2018 December 31, 2017, no 5.0%

Note 7 - Insurance Premium Fina

Note 7 - Insurance Premium Financing	3 Months Ended
	Mar. 31, 2018
Insurance Premiums Financing Note [Member]
Notes to Financial Statements
Short-term Debt [Text Block]	NOTE 7 – INSURANCE PREMIUM FINANCING In October 2017, $4.1 third $1.4 3.0% October 2018. March 31, 2018 $1.3

Note 8 - Long-term Debt

Note 8 - Long-term Debt	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Long-term Debt [Text Block]	NOTE 8 – LONG-TERM DEBT Long-term debt consisted of the following (in thousands): March 31 , December 31, 2018 2017 Revolving credit agreement $ 53,750 $ 61,225 In February 2015, The Credit Facility is structured as a $170.0 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% 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% 20% not 20%, $34.0 twelve The Company had no March 31, 2018. March 31, 2018, 3.33%. March 31, 2018, $5.4 $73.2

Note 9 - Leases and Commitments

Note 9 - Leases and Commitments	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Leases of Lessee Disclosure [Text Block]	Note 9 – LEASES AND Commitments As of March 31, 2018, one one 2018 2019 2020 2021 2022 Thereafter Capital leases $ 8,936 $ 11,836 $ 14,642 $ 326 $ 326 $ 1,497 Operating leases 10,658 7,803 3,405 523 290 411 CAPITAL LEASES The Company leases certain equipment under capital leases with terms ranging from 15 60 Capitalized Costs Accumulated Amortization Net Book Value March 31, 2018 $ 50,263 $ 14,576 $ 35,687 December 31, 2017 66,785 23,254 43,531 The Company has capitalized lease obligations relating to revenue equipment as of March 31, 2018 $35.8 $8.2 November 2024 nil 3.11% March 31, 2018. $1.4 $1.9 three March 31, 2018 2017, OPERATING LEASES Rent expense associated with operating leases was $3.0 $2.5 three March 31, 2018 2017, OTHER COMMITMENTS As of March 31, 2018, $58.1 none

Note 10 - Income Taxes

Note 10 - Income Taxes	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 10 – INCOME tAXES During the three March 31, 2018 2017, 28.8% 34.8%, 21%, may When the result of the expected annual effective tax rate is not

Note 11 - Earnings (Loss) Per S

Note 11 - Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Earnings Per Share [Text Block]	NOTE 1 1 – 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 March 31, Numerator: 201 8 2017 Net income (loss) $ 1,035 $ (4,890 ) Denominator: Denominator for basic earnings (loss) per share – weighted average shares 8,035 7,998 Effect of dilutive securities: Employee restricted stock 5 -- Denominator for diluted earnings (loss) per share – adjusted weighted average shares and assumed conversion 8,040 7,998 Basic earnings (loss) per share $ 0.13 $ (0.61 ) Diluted earnings (loss) per share $ 0.13 $ (0.61 ) Weighted average anti-dilutive restricted stock -- 4

Note 12 - Legal Proceedings

Note 12 - Legal Proceedings	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	NOTE 1 2 – 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 13 - Restructuring, Impair

Note 13 - Restructuring, Impairment and Other Costs	3 Months Ended
	Mar. 31, 2018
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	NOTE 1 3 – RESTRUCTURING, IM PAIRMENT AND OTHER COSTS During the three March 31, 2018, first 2016. $0.6 three March 31, 2018. The following tables summarize the Company’s liabilities, charges, and cash payments related to the restructuring plan made during the three March 31, 2018 ( Accrued Balance December 31, 2017 Costs Incurred Payments Expenses/ Charges Accrued Balance March 31, 2018 Compensation and benefits $ -- $ -- $ -- $ -- $ -- Facility closing expenses 770 (639 ) (131 ) -- -- Total $ 770 $ (639 ) $ (131 ) $ -- $ -- Three Months Ended March 31, Costs i ncurred 201 8 2017 Trucking $ (587 ) $ 4,848 USAT Logistics (52 ) 416 Total $ (639 ) $ 5,264 On March 26, 2018, March 23, 2018. May 31, 2018, ( twelve 2018, 5,488 July 30, 2018 5,488 July 30, 2018 March 31, 2018, $0.7 The following tables summarize the Company’s liabilities, charges, and cash payments related to executive severance agreements made during the three March 31, 2018 ( Accrued Balance December 31, 2017 Costs Incurred Payments Expenses/ Charges Accrued Balance March 31, 2018 Severance costs included in salaries, wages and employee benefits $ 35 $ 711 $ 35 $ -- $ 711 Three Months Ended March 31, Costs incurred 201 8 2017 Trucking $ 484 $ 586 USAT Logistics 227 231 Total $ 711 $ 817

Note 3 - Revenue Recognition (T

Note 3 - Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended March 31, 2018 Revenue type Trucking USAT Logistics Total Freight $ 66,804 $ 40,478 $ 107,282 Fuel surcharge 11,175 3,559 14,734 Accessorial 754 2,243 2,997 Total $ 78,733 $ 46,280 $ 125,013 Three Months Ended March 31, 2017 Revenue type Trucking USAT Logistics Total Freight $ 59,850 $ 28,101 $ 87,951 Fuel surcharge 9,187 2,655 11,842 Accessorial 1,243 634 1,877 Total $ 70,280 $ 31,390 $ 101,670

Note 5 - Segment Reporting (Tab

Note 5 - Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended March 31, Operating revenue 201 8 2017 Trucking revenue (1) $ 78,846 $ 70,471 Trucking intersegment eliminations (113 ) (191 ) Trucking operating revenue 78,733 70,280 USAT Logistics revenue (2) 46,775 32,650 USAT Logistics intersegment eliminations (495 ) (1,260 ) USAT Logistics operating revenue 46,280 31,390 Total operating revenue $ 125,013 $ 101,670 Three Months Ended March 31, Operating income (loss) 201 8 2017 Trucking $ (464 ) $ (7,128 ) USAT Logistics 2,856 729 Total operating income (loss) $ 2,392 $ (6,399 ) Three Months Ended March 31, Depreciation and amortization 201 8 2017 Trucking $ 7,026 $ 7,564 USAT Logistics 154 80 Total depreciation and amortization $ 7,180 $ 7,644

Note 6 - Accrued Expenses (Tabl

Note 6 - Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31 , December 31, Accrued expenses 2018 2017 Salaries, wages and employee benefits $ 4,862 $ 3,604 Federal and state tax accruals 4,684 3,587 Restructuring, impairment and other costs (1) -- 770 Other (2) 1,073 1,147 Total accrued expenses $ 10,619 $ 9,108

Note 8 - Long-term Debt (Tables

Note 8 - Long-term Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Long-term Debt Instruments [Table Text Block]	March 31 , December 31, 2018 2017 Revolving credit agreement $ 53,750 $ 61,225

Note 9 - Leases and Commitmen24

Note 9 - Leases and Commitments (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Lessee, Operating Lease, Disclosure [Table Text Block]	2018 2019 2020 2021 2022 Thereafter Capital leases $ 8,936 $ 11,836 $ 14,642 $ 326 $ 326 $ 1,497 Operating leases 10,658 7,803 3,405 523 290 411
Schedule of Capital Leased Assets [Table Text Block]	Capitalized Costs Accumulated Amortization Net Book Value March 31, 2018 $ 50,263 $ 14,576 $ 35,687 December 31, 2017 66,785 23,254 43,531

Note 11 - Earnings (Loss) Per25

Note 11 - Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, Numerator: 201 8 2017 Net income (loss) $ 1,035 $ (4,890 ) Denominator: Denominator for basic earnings (loss) per share – weighted average shares 8,035 7,998 Effect of dilutive securities: Employee restricted stock 5 -- Denominator for diluted earnings (loss) per share – adjusted weighted average shares and assumed conversion 8,040 7,998 Basic earnings (loss) per share $ 0.13 $ (0.61 ) Diluted earnings (loss) per share $ 0.13 $ (0.61 ) Weighted average anti-dilutive restricted stock -- 4

Note 13 - Restructuring, Impa26

Note 13 - Restructuring, Impairment and Other Costs (Tables)	3 Months Ended
	Mar. 31, 2018
Notes Tables
Restructuring and Related Costs [Table Text Block]	Accrued Balance December 31, 2017 Costs Incurred Payments Expenses/ Charges Accrued Balance March 31, 2018 Compensation and benefits $ -- $ -- $ -- $ -- $ -- Facility closing expenses 770 (639 ) (131 ) -- -- Total $ 770 $ (639 ) $ (131 ) $ -- $ -- Accrued Balance December 31, 2017 Costs Incurred Payments Expenses/ Charges Accrued Balance March 31, 2018 Severance costs included in salaries, wages and employee benefits $ 35 $ 711 $ 35 $ -- $ 711
Restructuring and Related Costs By Segment [Table Text Block]	Three Months Ended March 31, Costs i ncurred 201 8 2017 Trucking $ (587 ) $ 4,848 USAT Logistics (52 ) 416 Total $ (639 ) $ 5,264 Three Months Ended March 31, Costs incurred 201 8 2017 Trucking $ 484 $ 586 USAT Logistics 227 231 Total $ 711 $ 817

Note 3 - Revenue Recognition (D

Note 3 - Revenue Recognition (Details Textual)	3 Months Ended
	Mar. 31, 2018
Number of Reportable Segments	2

Note 3 - Revenue Recognition -

Note 3 - Revenue Recognition - Disaggregation of Revenue by Type (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues	$ 125,013	$ 101,670
Trucking [Member]
Revenues	78,733	70,280
USAT Logistics [Member]
Revenues	46,280	31,390
Freight [Member]
Revenues	107,282	87,951
Freight [Member] | Trucking [Member]
Revenues	66,804	59,850
Freight [Member] | USAT Logistics [Member]
Revenues	40,478	28,101
Fuel Surcharge [Member]
Revenues	14,734	11,842
Fuel Surcharge [Member] | Trucking [Member]
Revenues	11,175	9,187
Fuel Surcharge [Member] | USAT Logistics [Member]
Revenues	3,559	2,655
Accessorial [Member]
Revenues	2,997	1,877
Accessorial [Member] | Trucking [Member]
Revenues	754	1,243
Accessorial [Member] | USAT Logistics [Member]
Revenues	$ 2,243	$ 634

Note 4 - Equity Compensation 29

Note 4 - Equity Compensation and Employee Benefit Plans (Details Textual) - Incentive Plan [Member] - shares	May 10, 2017	Mar. 31, 2018
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		546,697

Note 5 - Segment Reporting (Det

Note 5 - Segment Reporting (Details Textual) $ in Thousands		3 Months Ended
		Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Number of Reportable Segments		2
Revenues, Total		$ 125,013	$ 101,670
Trucking [Member]
Revenues, Total		78,733	70,280
Trucking [Member] | Operating Segments [Member]
Revenues, Total	[1]	78,846	70,471
Trucking [Member] | Foreign Countries [Member] | Operating Segments [Member]
Revenues, Total		$ 9,900	$ 8,800
[1]	Includes foreign revenue of $9.9 million and $8.8 million for the three months ended March 31, 2018 and 2017, 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
		Mar. 31, 2018	Mar. 31, 2017
Revenues		$ 125,013	$ 101,670
Operating loss		2,392	(6,399)
Depreciation and amortization		7,180	7,644
Trucking [Member]
Revenues		78,733	70,280
USAT Logistics [Member]
Revenues		46,280	31,390
Operating Segments [Member] | Trucking [Member]
Revenues	[1]	78,846	70,471
Operating loss		(464)	(7,128)
Depreciation and amortization		7,026	7,564
Operating Segments [Member] | USAT Logistics [Member]
Revenues	[2]	46,775	32,650
Operating loss		2,856	729
Depreciation and amortization		154	80
Intersegment Eliminations [Member] | Trucking [Member]
Revenues		(113)	(191)
Intersegment Eliminations [Member] | USAT Logistics [Member]
Revenues		$ (495)	$ (1,260)
[1]	Includes foreign revenue of $9.9 million and $8.8 million for the three months ended March 31, 2018 and 2017, respectively. All foreign revenue is collected in U.S. dollars.
[2]	USAT Logistics de Mexico was dissolved during the first quarter of 2018.

Note 6 - Accrued Expenses - Sum

Note 6 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands		Mar. 31, 2018	Dec. 31, 2017
Salaries, wages and employee benefits		$ 4,862	$ 3,604
Federal and state tax accruals		4,684	3,587
Restructuring, impairment and other costs	[1]		770
Other	[2]	1,073	1,147
Total accrued expenses		$ 10,619	$ 9,108
[1]	Refer to Note 13 for additional information regarding the restructuring, impairment and other costs.
[2]	As of March 31, 2018 and December 31, 2017, no single item included within other accrued expenses exceeded 5.0% of our total current liabilities.

Note 7 - Insurance Premium Fi33

Note 7 - Insurance Premium Financing (Details Textual) - USD ($) $ in Thousands	Oct. 01, 2017	Mar. 31, 2018	Dec. 31, 2017
Short-term Debt, Total		$ 1,330	$ 4,115
Insurance Premiums Financing Note [Member]
Short-term Debt, Total	$ 4,100
Debt Instrument, Periodic Payment, Total	$ 1,400
Debt Instrument, Interest Rate, Stated Percentage	3.00%

Note 8 - Long-term Debt (Detail

Note 8 - Long-term Debt (Details Textual) - USD ($) $ in Thousands	1 Months Ended
	Feb. 28, 2015	Mar. 31, 2018	Dec. 31, 2017
Line of Credit Facility, Remaining Borrowing Capacity		$ 73,200
Debt, Weighted Average Interest Rate		3.33%
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%
Borrowing Based Threshold, Eligible Non-Investment Grade Accounts Receivable, Percentage	85.00%
Borrowing Based Threshold, Eligible Unbilled Accounts Receivable, Percentage	85.00%
Borrowing Base Before Additions of Eligible Revenue Equipment	$ 10,000
Borrowing Based Threshold, Eligible Revenue Equipment, Percentage	85.00%
Borrowing Based Threshold, Newly Acquired Revenue Equipment, Percentage	85.00%
Debt Instrument, Covenant, Fixed Charge Coverage Ratio	1
Minimum Excess Availability Percentage of Maximum Revolver Amount	10.00%
Availability Percentage of Maximum Revolver Amount		20.00%
Line of Credit Facility, Remaining Borrowing Capacity		$ 34,000
Long-term Line of Credit, Total		53,750	$ 61,225
Letters of Credit Outstanding, Amount		5,400
Revolving Credit Facility [Member] | Overnight Borrowings [Member]
Long-term Line of Credit, Total		$ 0
Revolving Credit Facility [Member] | Minimum [Member]
Borrowing Based Threshold, Eligible Investment Grade Accounts Receivable, Percentage	85.00%
Revolving Credit Facility [Member] | Maximum [Member]
Borrowing Based Threshold, Eligible Investment Grade Accounts Receivable, Percentage	90.00%
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%
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 8 - Long-term Debt - Summa

Note 8 - Long-term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Revolving Credit Facility [Member]
Revolving credit agreement	$ 53,750	$ 61,225

Note 9 - Leases and Commitmen36

Note 9 - Leases and Commitments (Details Textual) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Capital Lease Obligations, Total	$ 35,800
Capital Lease Obligations, Current	8,172		$ 12,929
Capital Leases, Income Statement, Amortization Expense	1,400	$ 1,900
Operating Leases, Rent Expense, Total	3,000	$ 2,500
Revenue and Non-revenue Equipment [Member]
Purchase Obligation, Total	$ 58,100
Minimum [Member]
Capital Lease Term	1 year 90 days
Minimum [Member] | Capital Lease Obligations [Member]
Debt Instrument, Interest Rate, Effective Percentage	0.00%
Maximum [Member]
Capital Lease Term	5 years
Maximum [Member] | Capital Lease Obligations [Member]
Debt Instrument, Interest Rate, Effective Percentage	3.11%

Note 9 - Leases and Commitmen37

Note 9 - Leases and Commitments - Future Minimum Lease Payments (Details) $ in Thousands	Mar. 31, 2018USD ($)
2,017	$ 8,936
2,018	11,836
2,019	14,642
2,020	326
2,021	326
Thereafter	1,497
2,017	10,658
2,018	7,803
2,019	3,405
2,020	523
2,021	290
Thereafter	$ 411

Note 9 - Leases and Commitmen38

Note 9 - Leases and Commitments - Capital Leases (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Dec. 31, 2017
Capitalized Costs	$ 50,263	$ 66,785
Accumulated Amortization	14,576	23,254
Net Book Value	$ 35,687	$ 43,531

Note 10 - Income Taxes (Details

Note 10 - Income Taxes (Details Textual)	Mar. 31, 2018	Mar. 31, 2017
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	28.80%	34.80%

Note 11 - Earnings (Loss) Per40

Note 11 - Earnings (Loss) Per Share - Computation of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net income (loss)	$ 1,035	$ (4,890)
Denominator:
Denominator for basic earnings (loss) per share – weighted average shares (in shares)	8,035	7,998
Effect of dilutive securities:
Employee restricted stock (in shares)	5
Denominator for diluted earnings (loss) per share – adjusted weighted average shares and assumed conversion (in shares)	8,040	7,998
Basic earnings (loss) per share (in dollars per share)	$ 0.13	$ (0.61)
Diluted earnings (loss) per share (in dollars per share)	$ 0.13	$ (0.61)
Weighted average anti-dilutive restricted stock (in shares)		4

Note 13 - Restructuring, Impa41

Note 13 - Restructuring, Impairment and Other Costs (Details Textual) - USD ($) $ in Thousands	Mar. 26, 2018	Mar. 31, 2018	Mar. 31, 2017
Restructuring, Impairment and Other Costs, Reversal		$ 639
Restructuring Charges, Total		(639)	$ 5,264
Employee Severance [Member]
Restructuring Charges, Total
Employee Severance [Member] | Rogers Separation Agreement [Member] | Salaries, Wages and Employee Benefits [Member]
Restructuring Charges, Total		$ 700
Time-Vested Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number	5,488
Performance-Vested Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Accelerated Vesting, Number	5,488

Note 13 - Restructuring, Impa42

Note 13 - Restructuring, Impairment and Other Costs - Restructuring and Related Charges (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Accrued balance, beginning	[1]	$ 770
Costs incurred		(639)	$ 5,264
Payments		(131)
Expenses/charges
Accrued balance, ending	[1]
Payments		131
Employee Severance [Member]
Accrued balance, beginning
Costs incurred
Payments
Expenses/charges
Accrued balance, ending
Payments
Executive Severance [Member]
Accrued balance, beginning		35
Costs incurred		711	$ 817
Payments		(35)
Expenses/charges
Accrued balance, ending		711
Payments		35
Facility Closing [Member]
Accrued balance, beginning		770
Costs incurred		(639)
Payments		(131)
Expenses/charges
Accrued balance, ending
Payments		$ 131
[1]	Refer to Note 13 for additional information regarding the restructuring, impairment and other costs.

Note 13 - Restructuring, Impa43

Note 13 - Restructuring, Impairment and Other Costs - Restructuring Costs by Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Costs incurred	$ (639)	$ 5,264
Executive Severance [Member]
Costs incurred	711	817
Trucking [Member]
Costs incurred	(587)	4,848
Trucking [Member] | Executive Severance [Member]
Costs incurred	484	586
USAT Logistics [Member]
Costs incurred	(52)	416
USAT Logistics [Member] | Executive Severance [Member]
Costs incurred	$ 227	$ 231