- \n
- \nTotal revenues of $155.3 million, down 14.9% YoY\n<\/li>\n
- \nOperating loss of $9.2 million\n<\/li>\n
- \nOperating ratio of 105.9%\n<\/li>\n
- \nDiluted loss per share of $0.37\n<\/li>\n<\/ul>\n
TONTITOWN, Ark.–(BUSINESS WIRE<\/a>)–
\nPAMT CORP (NASDAQ: PAMT) (the \u201cCompany\u201d) today reported a net loss of $8.1 million, or diluted and basic loss per share of $0.37, for the quarter ended March 31, 2025. These results compare to net income of $0.3 million, or diluted and basic earnings per share of $0.01, for the quarter ended March 31, 2024.\n<\/p>\n\nOperating revenues decreased 14.9% to $155.3 million for the first quarter of 2025 when compared to $182.6 million for the first quarter of 2024.\n<\/p>\n
Liquidity, Capitalization, and Cash Flow<\/span><\/b><\/p>\n
\nAs of March 31, 2025, we had an aggregate of $162.5 million of cash, marketable equity securities, and available liquidity under our line of credit and $269.6 million of stockholders\u2019 equity. Outstanding debt was $309.2 million as of March 31, 2025, which represents a $16.3 million decrease from December 31, 2024.\n<\/p>\n
\nDuring the first quarter of 2025, we used $1.4 million in operating cash flow.\n<\/p>\n
About PAMT CORP<\/span><\/b><\/p>\n
\nPAMT CORP is a holding company that owns subsidiaries engaged in providing truckload dry van carrier services transporting general commodities throughout the continental United States, as well as in the Canadian provinces of Ontario and Quebec. The Company\u2019s consolidated operating subsidiaries also provide transportation services in Mexico through its gateways in Laredo and El Paso, Texas, under agreements with Mexican carriers.\n<\/p>\n
Forward-Looking Statements<\/span><\/b><\/p>\n
\nCertain information included in this document contains or may contain \u201cforward-looking statements\u201d within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may relate to expected future financial and operating results, prospects, plans or events, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, excess capacity in the trucking industry; surplus inventories; general inflation, recessionary economic cycles and downturns in customers’ business cycles; a significant reduction in or termination of the Company’s trucking service by a key customer, including as a result of recent or future labor or international trade disruptions; increases or rapid fluctuations in fuel prices, interest rates, fuel taxes, tolls, and license and registration fees; potential economic, business or operational disruptions or uncertainties that may result from any future public health crises; the resale value of the Company’s used equipment; the price and availability of new equipment consistent with anticipated acquisitions and replacement plans; increases in compensation for and difficulty in attracting and retaining qualified drivers and owner-operators; increases in insurance premiums and deductible amounts relating to accident, cargo, workers’ compensation, health, and other claims; increases in the number or amount of claims for which the Company is self-insured; inability of the Company to continue to secure acceptable financing arrangements; seasonal factors such as harsh weather conditions that increase operating costs; competition from trucking, rail, and intermodal competitors including reductions in rates resulting from competitive bidding; the ability to identify acceptable acquisition candidates, consummate acquisitions, and integrate acquired operations; our ability to develop and implement suitable information technology systems and prevent failures in or breaches of such systems; the impact of pending or future litigation; general risks associated with doing business in Mexico, including, without limitation, exchange rate fluctuations, inflation, import duties, tariffs, quotas, political and economic instability and terrorism; the potential impact of new laws, regulations or policy, including, without limitation, rules regarding the classification of independent contractors as employees, tariffs, import\/export, trade and immigration regulations or policies; and other factors, including risk factors, included from time to time in filings made by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise forward-looking statements, whether due to new information, future events or otherwise. Considering these risks and uncertainties, the forward-looking events and circumstances discussed above and in company filings might not transpire.\n<\/p>\n
\n
\n \n \nPAMT CORP\n<\/p>\n
\nKey Financial and Operating Statistics\n<\/p>\n
\n(unaudited)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \nQuarter ended March 31,\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2025\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2024\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(in thousands, except per share amounts)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRevenue, before fuel surcharge\n<\/p>\n<\/td>\n
\n \n$ 136,701\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$ 160,969\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFuel surcharge\n<\/p>\n<\/td>\n
\n \n18,641\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n21,623\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating revenue\n<\/p>\n<\/td>\n
\n \n155,342\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n182,592\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating expenses and costs:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSalaries, wages and benefits\n<\/p>\n<\/td>\n
\n \n40,814\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n44,063\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating supplies and expenses\n<\/p>\n<\/td>\n
\n \n31,385\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n34,712\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRent and purchased transportation\n<\/p>\n<\/td>\n
\n \n62,973\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n73,279\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDepreciation\n<\/p>\n<\/td>\n
\n \n22,595\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n18,935\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInsurance and claims\n<\/p>\n<\/td>\n
\n \n4,781\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,861\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther\n<\/p>\n<\/td>\n
\n \n4,999\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n7,179\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(Gain)\/loss on disposition of equipment\n<\/p>\n<\/td>\n
\n \n(3,014)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n240\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal operating expenses and costs\n<\/p>\n<\/td>\n
\n \n164,533\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n183,269\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating loss\n<\/p>\n<\/td>\n
\n \n(9,191)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(677)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest expense\n<\/p>\n<\/td>\n
\n \n(4,042)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(2,883)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNon-operating income\n<\/p>\n<\/td>\n
\n \n2,486\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n3,938\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n(Loss)\/income before income taxes\n<\/p>\n<\/td>\n
\n \n(10,747)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n378\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome tax (benefit)\/expense\n<\/p>\n<\/td>\n
\n \n(2,605)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n97\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNet (loss)\/income\n<\/p>\n<\/td>\n
\n \n$(8,142)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$281\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDiluted (loss)\/earnings per share\n<\/p>\n<\/td>\n
\n \n$(0.37)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$0.01\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAverage shares outstanding \u2013 Diluted\n<\/p>\n<\/td>\n
\n \n21,787\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n22,127\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \nQuarter ended March 31,\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Truckload Operations<\/span><\/p>\n<\/td>\n
\n \n2025\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2024\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal miles (in thousands) (1)\n<\/p>\n<\/td>\n
\n \n41,217\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n44,065\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating ratio (2)\n<\/p>\n<\/td>\n
\n \n110.9%\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n104.2%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEmpty miles factor (1)\n<\/p>\n<\/td>\n
\n \n9.0%\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n9.0%\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRevenue per total mile, before fuel surcharge(1)\n<\/p>\n<\/td>\n
\n \n$2.04\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$2.11\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal loads\n<\/p>\n<\/td>\n
\n \n94,644\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n102,200\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRevenue per truck per work day\n<\/p>\n<\/td>\n
\n \n$673\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$706\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRevenue per truck per week\n<\/p>\n<\/td>\n
\n \n$3,363\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$3,533\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAverage company-driver trucks\n<\/p>\n<\/td>\n
\n \n1,667\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n1,895\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAverage owner operator trucks\n<\/p>\n<\/td>\n
\n \n514\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n365\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n Logistics Operations<\/span><\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal revenue (in thousands)\n<\/p>\n<\/td>\n
\n \n$44,272\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$58,769\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating ratio\n<\/p>\n<\/td>\n
\n \n98.0%\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n93.9%\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n \nPAMT CORP\n<\/p>\n
\nCondensed Consolidated Balance Sheets\n<\/p>\n
\n(unaudited)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \nMarch 31,\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \nDecember 31,\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2025\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2024\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(in thousands)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nASSETS\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent Assets:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash and cash equivalents\n<\/p>\n<\/td>\n
\n \n$57,072\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$68,060\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTrade accounts receivable, net\n<\/p>\n<\/td>\n
\n \n82,749\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n79,967\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther receivables\n<\/p>\n<\/td>\n
\n \n6,281\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n4,854\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInventories\n<\/p>\n<\/td>\n
\n \n2,329\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,433\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses and deposits\n<\/p>\n<\/td>\n
\n \n10,456\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n11,555\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nMarketable equity securities\n<\/p>\n<\/td>\n
\n \n45,584\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n42,620\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome taxes refundable\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,281\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current assets\n<\/p>\n<\/td>\n
\n \n204,471\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n211,770\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProperty and equipment\n<\/p>\n<\/td>\n
\n \n800,383\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n836,490\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLess: accumulated depreciation\n<\/p>\n<\/td>\n
\n \n294,879\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n309,272\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal property and equipment, net\n<\/p>\n<\/td>\n
\n \n505,504\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n527,218\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther non-current assets\n<\/p>\n<\/td>\n
\n \n2,666\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n2,666\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal Assets\n<\/p>\n<\/td>\n
\n \n$712,641\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$741,654\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLIABILITIES AND STOCKHOLDERS\u2019 EQUITY\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent liabilities:\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable\n<\/p>\n<\/td>\n
\n \n$31,081\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$31,198\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccrued expenses and other liabilities\n<\/p>\n<\/td>\n
\n \n15,067\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n14,569\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome taxes payable\n<\/p>\n<\/td>\n
\n \n6,417\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of long-term debt\n<\/p>\n<\/td>\n
\n \n74,049\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n73,017\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current liabilities\n<\/p>\n<\/td>\n
\n \n126,614\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n118,784\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term debt, net of current portion\n<\/p>\n<\/td>\n
\n \n235,189\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n252,565\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred income taxes\n<\/p>\n<\/td>\n
\n \n81,243\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n92,547\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther long-term liabilities\n<\/p>\n<\/td>\n
\n \n–\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n250\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities\n<\/p>\n<\/td>\n
\n \n443,046\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n464,146\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nSTOCKHOLDERS\u2019 EQUITY\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCommon stock\n<\/p>\n<\/td>\n
\n \n224\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n224\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAdditional paid-in capital\n<\/p>\n<\/td>\n
\n \n41,400\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n41,171\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTreasury stock, at cost\n<\/p>\n<\/td>\n
\n \n(13,996)\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n(13,996)\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRetained earnings\n<\/p>\n<\/td>\n
\n \n241,967\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n250,109\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal stockholders\u2019 equity\n<\/p>\n<\/td>\n
\n \n269,595\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n277,508\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal liabilities and stockholders\u2019 equity\n<\/p>\n<\/td>\n
\n \n$712,641\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n$741,654\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n
\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n ____________________________________<\/td>\n<\/tr>\n \n \n \n1)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \nExcludes miles driven by third party power only carriers.\n<\/p>\n<\/td>\n<\/tr>\n
\n \n \n2)\n<\/p>\n<\/td>\n
\u00a0<\/td>\n \n \nThe Truckload Operations operating ratio has been calculated based upon total operating expenses, net of fuel surcharge, as a percentage of revenue, before fuel surcharge. We used revenue, before fuel surcharge, and operating expenses, net of fuel surcharge, because we believe that eliminating this sometimes volatile source of revenue affords a more consistent basis for comparing our results of operations from period to period.\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n\u00a0\n<\/p>\n
<\/p>\n