Contact:  Ray Harlin
             Chief Financial Officer
             423-510-3323
 
 
 
 
U.S. XPRESS ENTERPRISES, INC. REPORTS THIRD QUARTER RESULTS
33% Revenue Growth and Record Quarterly Earnings per Share



CHATTANOOGA, Tenn. (October 23, 2006) - U.S. Xpress Enterprises, Inc. (NASDAQ:XPRSA) today announced operating revenue and earnings for the third quarter and nine months ended September 30, 2006.

Financial Highlights
Revenue for the third quarter of 2006 increased 33.4% to $396.6 million compared with $297.2 million in the third quarter of 2005. Net income for the third quarter increased 81.9% to $7.3 million, or $0.47 per diluted share, compared with net income of $4.0 million, or $0.25 per diluted share in the prior-year period.

For the nine months ended September 30, 2006, revenue increased 28.3% to $1.09 billion from $846.3 million in the prior-year period. For the first nine months of 2006, the Company reported net income of $13.7 million, or $0.88 per diluted share, compared with net income, before a one-time pre-tax charge of $2.8 million related to the sale and exit of the Company’s airport-to-airport business, of $3.8 million, or $0.24 per diluted share, for the prior-year period. After the one-time charge, the Company reported net income of $2.4 million, or $0.14 per diluted share for the nine months ended September 30, 2005.

On February 28, 2006, the Company acquired additional equity in both Arnold Transportation and Total Transportation, increasing its ownership interest in each to 80% from 49%. Accordingly, the financial results of Arnold and Total from February 28, 2006, are included in the Company’s consolidated financial statements. Consolidated revenue, excluding fuel surcharges, and operating income for the third quarter of 2006 includes $76.8 million of revenue and $6.6 million in operating income of Arnold and Total. Results for the nine months ended September 30, 2006, include $184.2 million of revenue and $13.2 million in operating income of Arnold and Total.

Truckload Operations
During the third quarter, truckload revenue, excluding the effect of fuel surcharges, increased 29.4% to $312.0 million from $241.1 million a year ago while truckload operating income increased 51.6% to $17.7 million from $11.7 million in the third quarter of 2005. These increases were primarily driven by the contributions of Arnold and Total. Co-Chairman, Patrick Quinn, stated, “Despite weakness in the freight market and spot market pricing relative to last year, we achieved significant improvements in our truckload operating margins on both a year-over-year and sequential 2006 quarterly basis. We believe these results demonstrate the progress we have made in improving the performance of our base truckload business. The less than one percent increase in our rate per revenue mile reflects the soft spot market experienced in the third quarter of 2006 compared to the prior-year quarter, which was significantly impacted by tight truckload capacity after the hurricanes during the third quarter of 2005. All of our truckload operations have achieved meaningful year-over-year rate increases on their base contractual business.”

“The driver recruiting market remains very difficult. However, due in part to improvements in our driver turnover, our seated tractors grew sequentially from the end of the second quarter of 2006 by approximately 250 tractors. The average age of our tractor fleet continues to decline in advance of the introduction of the new higher cost and less efficient engines mandated by federal regulations beginning in 2007. Given our current delivery schedule of new tractors, we expect the average age of our tractor fleet equipped with pre-2007 emission engine to approach 1.5 years in the first quarter of 2007.”


The following information was filed by Us Xpress Enterprises Inc (USX) on Tuesday, October 24, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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