Contact: Ray Harlin
Chief Financial Officer
423-510-3323


U.S. XPRESS ENTERPRISES, INC. REPORTS FIRST QUARTER RESULTS

CHATTANOOGA, Tenn. (April 19, 2007) - U.S. Xpress Enterprises, Inc. (NASDAQ:XPRSA) today announced operating revenue and earnings for the first quarter ended
March 31, 2007.

Financial Highlights
Revenue for the first quarter of 2007 increased 20% to $360.9 million compared with $299.7 million in the first quarter of 2006. The Company reported a net loss of $2.6 million for the first quarter, or $0.17 per share, compared with net income of $734,000, or $0.05 per diluted share, in the prior-year period.

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 for the first quarter of 2007 and 2006 includes $86.7 million and $33.0 million, respectively, in revenues of Arnold and Total.

Truckload Operations
During the first quarter, truckload revenue, excluding the effect of fuel surcharges, increased 22% to $295.1 million from $241.3 million a year ago while truckload operations reported an operating loss of $1.2 million, compared with operating income of $4.4 million in the first quarter of 2006.

Xpress Global Systems
Revenue of Xpress Global Systems increased 0.5% to $22.6 million in the quarter compared with $22.4 million for the prior-year quarter. Xpress Global Systems’ operating income for the first quarter was $1.5 million compared with $369,000 in the prior-year quarter.

Patrick Quinn, Co-Chairman, stated, “Consistent with the early first quarter trends we cited in our February conference call and our announcement last week, the truckload operating environment proved to be much more difficult than a year ago. Profitable operating results in both our truckload and Xpress Global Systems operating segments in March were not sufficient to overcome the operating losses of our truckload segment in January and February, as the quarter was adversely impacted by lower than expected freight demand, severe winter weather in key high-traffic markets that hampered tractor utilization, and rising fuel prices in the second half of the quarter. As we have demonstrated the last couple of years, the operating leverage in our business model is substantial. Unfortunately, the leverage did not work in our favor this quarter due in part to the difficult truckload environment, as well as the normal seasonality we experience in our business in the first quarter.

“On a positive note, Xpress Global achieved its fifth consecutive quarter of improved year-over-year quarterly operating income. Additionally, we have completed most of our pre-buy of new tractors with 2006 engines. Upon completion of the pre-buy, the average age of the Company’s over-the-road tractor fleet will be approximately 17 months. As a result, over the next twelve months we expect to reduce capital expenditures on revenue equipment and utilize our cash flow to reduce our outstanding debt.”

Conference Call and Webcast
U.S. Xpress Enterprises will host a conference call to discuss first quarter results on Friday, April 20, 2007, at 11:00 a.m. ET. The number to call for this interactive teleconference is (913) 981-4910. A replay of the conference call will be available through April 27, 2007, by dialing (719) 457-0820 and entering the passcode 4697350.
 
 
-MORE-

The following information was filed by Us Xpress Enterprises Inc (USX) on Friday, April 20, 2007 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.

View differences made from one quarter to another to evaluate Us Xpress Enterprises Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Us Xpress Enterprises Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account