USA Truck Comments On Schedule 13D Filing
VAN BUREN, Ark., May 8, 2014 /PRNewswire/ -- USA Truck, Inc. (NASDAQ: USAK), a leading North American transportation and logistics provider, commented today on the joint filing of a Schedule 13D by Baker Street Capital, LLC and Stone House Capital, LLC on May 6, 2014.
"USA Truck has a demonstrated practice of maintaining an open dialog with the Company's shareholders, including Baker Street and Stone House, and we welcome the input of all shareholders. Our board of directors and executive management regularly review USA Truck's strategic priorities and the full spectrum of available options and are always open to receiving constructive input toward our shared goal of increasing long-term value for all of the Company's stakeholders.
"Based on our confidence in the Company's strategic turnaround, in September 2013 the board rejected an unsolicited offer that substantially undervalued USA Truck. The Company's stock appreciation over the last eight months, combined with six consecutive quarters of improved year-over-year financial and operational performance, substantiate the board's decision and demonstrate the progress our expanded and reinvigorated management team has made in executing the turnaround plan.
"Through continued focus on operational execution, cost effectiveness and profitable revenue growth, the USA Truck board and management team remain committed to driving ongoing improved financial performance and shareholder value creation over the long term."
Safe Harbor Statement
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are usually identified by words such as 'anticipates', 'believes', 'estimates', 'plans', 'projects', 'expects', 'hopes', 'intends', 'will', 'could', 'may' or similar expressions. Forward-looking statements speak only as of the date the statement was made. Such forward-looking are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are inherently uncertain, are based upon the current beliefs, assumptions and expectations of our management and current market conditions, all of which are subject to significant risks and uncertainties, some of which cannot be predicted or quantified, particularly those identified in the Risk Factor section of our most recent annual report Form 10-K as those risk factors may be updated from time to time, and other factors identified from time to time in our other disclosures in press releases, stockholder reports, and other filings with the Securities and Exchange Commission. As a result of these and other factors, actual results may differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The Company makes no commitment and disclaims any obligation to update or revise any forward-looking statements to reflect actual results or changes in the factors affecting the forward-looking information.
All forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by this cautionary statement.
References to the "Company," "we," "us," "our" and words of similar import refer to USA Truck, Inc. and its subsidiary.
About USA Truck
USA Truck is a transportation and logistics provider headquartered in Van Buren, Arkansas, with terminals, offices and staging facilities located throughout the United States. We transport commodities throughout the continental U.S. 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 Strategic Capacity Solutions and Intermodal service offerings provide customized transportation solutions using the latest technological tools available and multiple modes of transportation.
For more information, please contact:
Cliff Beckham, EVP & CFO
Investor Relations Contact
Harriet Fried / Jody Burfening
SOURCE USA Truck, Inc.