Acquisition (Tables)

12 Months Ended

Dec. 31, 2012

Business Combinations [Abstract]

Business Acquisition, Pro Forma Information

The following pro forma consolidated statement of income for the year ended December 31, 2011 gives effect to the acquisition as of January 1, 2011: 

	As previously reported		Pro Forma adjustments				Pro Forma
Gross revenues
Transportation services	$	318,080,000	$	(65,042,000	)	(g)	$	253,038,000
Agent support services		1,890,000		(986,000	)	(a)		904,000
Total revenues		319,970,000		(66,028,000	)			253,942,000
Purchased transportation		259,493,000		(56,451,000	)	(g)		203,042,000
Purchased equipment for resale		566,000						566,000
Commissions		41,371,000		(1,545,000	)	(b)
				(8,225,000	)	(g)		31,601,000
Operating expenses		12,108,000		532,000		(c) (d) (e)
				(366,000	)	(g)		12,274,000
		313,538,000		(66,055,000	)			247,483,000
Income from operations		6,432,000		27,000				6,459,000
Interest expense		520,000						520,000
Income before income taxes		5,912,000		27,000				5,939,000
Income taxes		2,274,000		10,000		(f)		2,284,000
Net income	$	3,638,000		17,000			$	3,655,000
Net income per share:
Basic	$	.11					$	.11
Diluted	$	.10					$	.10
Weighted average number of common shares:
Basic		33,908,000						33,908,000
Diluted		35,396,000						35,396,000

Footnotes to Pro Forma Statement of Income:

(a) Interest income on debt component of consideration discharged to acquire Truck Agent Business Unit.

(b) Commissions paid to the Significant Agent pursuant to Agent Agreement.

(c) $512,000 represents direct operating expenses, primarily payroll and related expenses, of Truck Agent Business Unit acquired.

(d) $5,000 represents an increase in management compensation based upon an increase in income from operations.

(e) $15,000 represents amortization of acquired identifiable intangible assets.

(f) Represent an increase in federal and state taxes on income.

(g) Represents the impact of the loss of the Significant Agent’s brokerage division business

Business Acquisitions Proforma Revenue Impact Of Loss

Represents the impact of the loss of the Significant Agent’s brokerage division business, as follows:

Revenues	$	65,042,000
Cost of transportation		56,451,000
Commissions		8,225,000
Operating expenses		366,000