##### Table of Contents



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
 WASHINGTON, D.C. 20549
 FORM 10-Q
  þ
    
    QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the quarterly period ended July 2, 2005
 or
 o
    
    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
 For the transition period from ___to ___.
 Commission File Number: 0-120510
 UNIVERSAL TRUCKLOAD SERVICES, INC.
  Michigan
    
    38-3640097(State or other jurisdiction of
incorporation or organization)
    
    (I.R.S. Employer Identification No.)
 11355 Stephens Road
Warren, Michigan 48089
 (586) 920-0100
 N/A
  Yes þ
    
    No o
  Yes o
    
    No þ




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TABLE OF CONTENTS  PART I  FINANCIAL INFORMATIONITEM 1: FINANCIAL STATEMENTSITEM 2: MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONSITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKITEM 4: CONTROLS AND PROCEDURESPART II  OTHER INFORMATIONITEM 1: LEGAL PROCEEDINGSITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDSITEM 3: DEFAULTS UPON SENIOR SECURITIESITEM 4: SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERSITEM 5: OTHER INFORMATIONITEM 6: EXHIBITSSIGNATURESEXHIBIT INDEXChief Executive Officer certification, as adopted pursuant to section 302Chief Financial Officer certification, as adopted pursuant to section 302Chief Executive Officer and Chief Financial Officer certification pursuant to 18 U.S.C. Section 1350    Table of Contents  
 PART
I  FINANCIAL INFORMATION
 
 ITEM 1: FINANCIAL STATEMENTS
 UNIVERSAL TRUCKLOAD SERVICES, INC.
 
 December 31,July 2, 2005
    
    2004(Unaudited)AssetsCurrent assets:Cash and cash equivalents
    
    $
    32,891
    
    
    $
    904Marketable securities
    
    
    651
    
    
    
    Accounts receivable  net of allowance of $3,439 and $3,439
    
    
    59,746
    
    
    
    59,441Due from CenTra and affiliates
    
    
    285
    
    
    
    502Loan receivable from CenTra
    
    
    
    
    
    
    1,764Prepaid expenses and other
    
    
    4,116
    
    
    
    5,195Deferred income taxes
    
    
    1,055
    
    
    
    796Total current assets
    
    
    98,744
    
    
    
    68,602Property and equipment
    
    
    48,415
    
    
    
    41,219Less accumulated depreciation
    
    
    (18,838
    )
    
    
    (17,388
    )Property and equipment  net
    
    
    29,577
    
    
    
    23,831Deferred income taxes
    
    
    
    
    
    
    586Goodwill
    
    
    3,802
    
    
    
    3,192Intangible assets  net of accumulated amortization of $1,310 and $869
    
    
    8,215
    
    
    
    8,656Other assets
    
    
    331
    
    
    
    417Total
    
    $
    140,669
    
    
    $
    105,284Liabilities and Shareholders Equity (Deficit)Current liabilities:Dividend payable
    
    $
    
    
    
    $
    50,000Lines of credit
    
    
    
    
    
    
    31,598Current portion of long-term debt
    
    
    
    
    
    
    2,290Accounts payable
    
    
    22,710
    
    
    
    21,154Accrued expenses
    
    
    9,965
    
    
    
    10,879Income taxes payable
    
    
    1,431
    
    
    
    224Due to CenTra
    
    
    1,283
    
    
    
    1,375Total current liabilities
    
    
    35,389
    
    
    
    117,520Long-term liabilities:Long-term debt
    
    
    
    
    
    
    4,110Deferred income taxes
    
    
    718
    
    
    
    Other long-term liabilities
    
    
    731
    
    
    
    479Total long-term liabilities
    
    
    1,449
    
    
    
    4,589Shareholders equity (deficit):Common stock, no par value. Authorized 40,000,000 shares; issued
and outstanding 16,117,500 and 10,022,500 shares, respectively
    
    
    16,118
    
    
    
    10,023Paid-in capital
    
    
    79,799
    
    
    
    Retained earnings
    
    
    7,868
    
    
    
    Distributions in excess of CenTras contributed capital
    
    
    
    
    
    
    (26,848
    )Accumulated other comprehensive income
    
    
    46
    
    
    
    Total shareholders equity (deficit)
    
    
    103,831
    
    
    
    (16,825
    )Total
    
    $
    140,669
    
    
    $
    105,284
 See accompanying notes to unaudited consolidated financial statements.
 2




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UNIVERSAL TRUCKLOAD SERVICES, INC.
 
 Thirteen Weeks Ended
    
    Twenty-Six Weeks Ended2005
    
    2004
    
    2005
    
    2004Operating revenues:Truckload
    
    $
    79,944
    
    
    $
    55,764
    
    
    $
    154,018
    
    
    $
    106,236Brokerage
    
    
    35,807
    
    
    
    14,275
    
    
    
    71,962
    
    
    
    27,981Intermodal
    
    
    11,765
    
    
    
    8,672
    
    
    
    22,481
    
    
    
    16,734Total operating revenues
    
    
    127,516
    
    
    
    78,711
    
    
    
    248,461
    
    
    
    150,951Operating expenses:Purchased transportation
    
    
    97,146
    
    
    
    58,380
    
    
    
    188,671
    
    
    
    111,895Commissions expense
    
    
    8,310
    
    
    
    6,331
    
    
    
    15,920
    
    
    
    12,120Other operating expense, net
    
    
    1,587
    
    
    
    1,033
    
    
    
    3,420
    
    
    
    2,097Selling, general, and administrative
    
    
    9,738
    
    
    
    5,660
    
    
    
    19,195
    
    
    
    11,576Insurance and claims
    
    
    2,789
    
    
    
    1,926
    
    
    
    6,490
    
    
    
    3,867Depreciation and amortization
    
    
    1,025
    
    
    
    759
    
    
    
    2,060
    
    
    
    1,604Total operating expenses
    
    
    120,595
    
    
    
    74,089
    
    
    
    235,756
    
    
    
    143,159Income from operations
    
    
    6,921
    
    
    
    4,622
    
    
    
    12,705
    
    
    
    7,792Interest income
    
    
    156
    
    
    
    34
    
    
    
    185
    
    
    
    45Interest expense
    
    
    (6
    )
    
    
    (128
    )
    
    
    (200
    )
    
    
    (255
    )Income before provision for income taxes
    
    
    7,071
    
    
    
    4,528
    
    
    
    12,690
    
    
    
    7,582Provision for income taxes
    
    
    2,687
    
    
    
    1,643
    
    
    
    4,822
    
    
    
    2,792Net income
    
    $
    4,384
    
    
    $
    2,885
    
    
    $
    7,868
    
    
    $
    4,790Earnings per common share:Basic
    
    $
    0.27
    
    
    $
    0.29
    
    
    $
    0.54
    
    
    $
    0.48Diluted
    
    $
    0.27
    
    
    $
    0.29
    
    
    $
    0.54
    
    
    $
    0.48Average common shares outstanding:Basic
    
    
    16,118
    
    
    
    10,023
    
    
    
    14,630
    
    
    
    10,023Diluted
    
    
    16,118
    
    
    
    10,023
    
    
    
    14,630
    
    
    
    10,023
 See accompanying notes to unaudited consolidated financial statements.
 3




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UNIVERSAL TRUCKLOAD SERVICES, INC.
 
 Distributionsin excess of
    
    AccumulatedCenTras
    
    OtherCommon
    
    Paid-in
    
    Retained
    
    Contributed
    
    Comprehensivestock
    
    capital
    
    earnings
    
    Capital
    
    Income
    
    TotalBalances  January 1, 2005
    
    $
    10,023
    
    
    $
    
    
    
    $
    
    
    
    $
    (26,848
    )
    
    $
    
    
    
    $
    (16,825
    )Net income
    
    
    
    
    
    
    
    
    
    
    7,868
    
    
    
    
    
    
    
    
    
    
    
    7,868Capital contribution (Note 2)
    
    
    
    
    
    
    1,835
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    1,835Proceeds from issuance of
common stock, net
of offering costs
    
    
    6,095
    
    
    
    77,964
    
    
    
    
    
    
    
    26,848
    
    
    
    
    
    
    
    110,907Unrealized gain on available
for sale
investments, net of
income taxes
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    46
    
    
    
    46Balances
 July 2, 2005
    
    $
    16,118
    
    
    $
    79,799
    
    
    $
    7,868
    
    
    $
    
    
    
    $
    46
    
    
    $
    103,831
 See accompanying notes to unaudited consolidated financial statements.
 4




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UNIVERSAL TRUCKLOAD SERVICES, INC.
 
 2005
    
    2004Cash flows from operating activities:Net income
    
    $
    7,868
    
    
    $
    4,790Adjustments to reconcile net income to net cash
provided by operating activities:Depreciation and amortization
    
    
    2,060
    
    
    
    1,604Loss on disposal of property and equipment
    
    
    40
    
    
    
    44Bad debt expense
    
    
    946
    
    
    
    524Deferred income taxes
    
    
    (216
    )
    
    
    76Change in assets and liabilities:Accounts receivable and due from CenTra and affiliates
    
    
    (3,632
    )
    
    
    (2,107
    )Prepaid expenses and other
    
    
    1,165
    
    
    
    (3,037
    )Accounts payable, accrued expenses and
income taxes payable
    
    
    4,699
    
    
    
    3,651Due to CenTra
    
    
    (92
    )
    
    
    (464
    )Net cash provided by operating activities
    
    
    12,838
    
    
    
    5,081Cash flows from investing activities:Capital expenditures
    
    
    (4,523
    )
    
    
    (470
    )Proceeds from the sale of property and equipment
    
    
    78
    
    
    
    3Purchases of marketable securities
    
    
    (577
    )
    
    
    Loans to CenTra
    
    
    
    
    
    
    (4,019
    )Repayment of loans to CenTra
    
    
    1,764
    
    
    
    Additions to goodwill
    
    
    (402
    )
    
    
    Acquisition of business
    
    
    (100
    )
    
    
    Net cash used in investing activities
    
    
    (3,760
    )
    
    
    (4,486
    )Cash flows from financing activities:Repayments of long-term debt
    
    
    (6,400
    )
    
    
    (1,077
    )Net (repayments) borrowings under lines of credit
    
    
    (31,598
    )
    
    
    473Payment of dividend
    
    
    (50,000
    )
    
    
    Proceeds from the issuance of common stock
    
    
    113,367
    
    
    
    Payment of offering costs
    
    
    (2,460
    )
    
    
    Net cash provided by (used in) financing activities
    
    
    22,909
    
    
    
    (604
    )Net increase (decrease) in cash and cash equivalents
    
    
    31,987
    
    
    
    (9
    )Cash and cash equivalents  beginning of period
    
    
    904
    
    
    
    423Cash and cash equivalents  end of period
    
    $
    32,891
    
    
    $
    414Supplemental cash flow information:Cash paid for interest
    
    $
    312
    
    
    $
    240Cash paid for taxes
    
    $
    3,803
    
    
    $
    347
 See accompanying notes to unaudited consolidated financial statements.
 5




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UNIVERSAL TRUCKLOAD SERVICES, INC.
   Non-Cash investing transactions:
  See accompanying notes to unaudited consolidated financial statements.
 6




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UNIVERSAL TRUCKLOAD SERVICES, INC.
  
 (1)
    
    Basis of Presentation
        7




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UNIVERSAL TRUCKLOAD SERVICES, INC.
  
 (2)
    
    Transactions with CenTra and Affiliates
   Thirteen weeks ended
    
    Twenty-six weeks endedJuly 2, 2005
    
    July 3, 2004
    
    July 2, 2005
    
    July 3, 2004Management services
    
    $
    76
    
    
    $
    76
    
    
    $
    153
    
    
    $
    153Building & terminal rents
    
    
    45
    
    
    
    52
    
    
    
    121
    
    
    
    47Maintenance services
    
    
    164
    
    
    
    149
    
    
    
    388
    
    
    
    392Trailer rents
    
    
    17
    
    
    
    3
    
    
    
    31
    
    
    
    23Health insurance
    
    
    274
    
    
    
    233
    
    
    
    545
    
    
    
    434Total
    
    $
    576
    
    
    $
    513
    
    
    $
    1,238
    
    
    $
    1,049
     8




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##### Table of Contents



UNIVERSAL TRUCKLOAD SERVICES, INC.
  
 (2)
    
    Transactions with CenTra and Affiliates  continued
     (3)
    
    Cash and Cash Equivalents
  (4)
    
    Marketable Securities
  9




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UNIVERSAL TRUCKLOAD SERVICES, INC.
  
 (5)
    
    Debt
       10




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UNIVERSAL TRUCKLOAD SERVICES, INC.
  
 (5)
    
    Debt  continued
  (6)
    
    Initial Public Offering
   (7)
    
    Earnings Per Share
   (8)
    
    Stock Based Compensation
   11




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UNIVERSAL TRUCKLOAD SERVICES, INC.
  
 (8)
    
    Stock Based Compensation  continued
 Thirteen weeks ended
    
    Twenty-six weeks endedJuly 2, 2005
    
    July 3, 2004
    
    July 2, 2005
    
    July 3, 2004Net income, as reported
    
    $
    4,384
    
    
    $
    2,885
    
    
    $
    7,868
    
    
    $
    4,790Less: Total stock based compensation determined
using the fair value method, net of income tax
    
    
    
    
    
    
    
    
    
    
    1,753
    
    
    
    Pro forma net income
    
    $
    4,384
    
    
    $
    2,885
    
    
    $
    6,115
    
    
    $
    4,790Earnings per
common share  basicAs reported
    
    $
    0.27
    
    
    $
    0.29
    
    
    $
    0.54
    
    
    $
    0.48Pro forma
    
    $
    0.27
    
    
    $
    0.29
    
    
    $
    0.42
    
    
    $
    0.48Earnings per common share  dilutedAs reported
    
    $
    0.27
    
    
    $
    0.29
    
    
    $
    0.54
    
    
    $
    0.48Pro forma
    
    $
    0.27
    
    
    $
    0.29
    
    
    $
    0.42
    
    
    $
    0.48
  Underlying share price
    
    $
    22.50Exercise price of the option
    
    $
    22.50Expected dividend rate
    
    
    0.0
    %Expected volatility
    
    
    39.57
    %Expected term of the option (in years)
    
    
    7Risk-free interest rate
    
    
    4.02
    %
 (9)
    
    Acquisition
  12




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UNIVERSAL TRUCKLOAD SERVICES, INC.
  
 (10)
    
    Comprehensive Income
  Thirteen
    
    Twenty-sixWeeks
    
    WeeksEnded
    
    EndedJuly 2, 2005
    
    July 2, 2005Net income
    
    $
    4,384
    
    
    $
    7,868Unrealized holding gains on available for sale
investments, net of income tax
    
    
    46
    
    
    
    46Comprehensive income
    
    $
    4,430
    
    
    $
    7,914
 (11)
    
    Contingencies
  (12)
    
    Recent Accounting Pronouncements
  13




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UNIVERSAL TRUCKLOAD SERVICES, INC.
  
 (12)
    
    Recent Accounting Pronouncements  continued
  14




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ITEM 2: MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
 Some of the statements and assumptions in this Form 10-Q are forward-looking statements. These
statements identify prospective information. Important factors could cause actual results to
differ, possibly materially, from those in the forward-looking statements. In some cases you can
identify forward-looking statements by words such as anticipate, believe, could, estimate,
plan, intend, may, should, will and would or other similar words. You should read
statements that contain these words carefully because they discuss our future expectations, contain
projections of our future results of operations or of our financial position or state other
forward-looking information. Forward-looking statements should not be read as a guarantee of
future performance or results, and will not necessarily be accurate indications of the times at, or
by which, such performance or results will be achieved. Forward-looking information is based on
information available at the time and/or managements good faith belief with respect to future
events, and is subject to risks and uncertainties that could cause actual performance or results to
differ materially from those expressed in the statements. The factors listed in the section
captioned Factors That May Affect Future Results or Forward Looking Statements in Item 7 in our
Form 10-K for the year ended December 31, 2004, as well as any other cautionary language in Item 7
of that Form 10-K, provide examples of risks, uncertainties and events that may cause our actual
results to differ materially from the expectations we describe in our forward-looking statements.
 Forward-looking statements speak only as of the date the statements are made. We assume no
obligation to update forward-looking statements to reflect actual results, changes in assumptions
or changes in other factors affecting forward-looking information except to the extent required by
applicable securities laws. If we do update one or more forward-looking statements, no inference
should be drawn that we will make additional updates with respect thereto or with respect to other
forward-looking statements.
 Unless the context indicates otherwise, we, our and us refers to Universal Truckload
Services, Inc. and its subsidiaries.
 Overview
    15




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Results of Operations
  Thirteen
    
    
    Twenty-sixWeeks Ended
    
    
    Weeks EndedJuly 2,
    
    
    July 3,
    
    
    July 2,
    
    
    July 3,2005
    
    
    2004
    
    
    2005
    
    
    2004Operating revenues
    
    
    100
    %
    
    
    100
    %
    
    
    100
    %
    
    
    100
    %Operating expenses:Purchased transportation
    
    
    76.2
    
    
    
    74.2
    
    
    
    75.9
    
    
    
    74.1Commissions expense
    
    
    6.5
    
    
    
    8.0
    
    
    
    6.4
    
    
    
    8.0Other operating expenses
    
    
    1.2
    
    
    
    1.3
    
    
    
    1.4
    
    
    
    1.4Selling, general and administrative
    
    
    7.6
    
    
    
    7.2
    
    
    
    7.7
    
    
    
    7.7Insurance and claims
    
    
    2.2
    
    
    
    2.4
    
    
    
    2.6
    
    
    
    2.6Depreciation and amortization
    
    
    0.8
    
    
    
    1.0
    
    
    
    0.8
    
    
    
    1.1Total operating expenses
    
    
    94.6
    
    
    
    94.1
    
    
    
    94.9
    
    
    
    94.8Operating income
    
    
    5.4
    
    
    
    5.9
    
    
    
    5.1
    
    
    
    5.2Interest income (expense), net
    
    
    0.1
    
    
    
    (0.1
    )
    
    
    0.0
    
    
    
    (0.1
    )Income before provision for income taxes
    
    
    5.5
    
    
    
    5.8
    
    
    
    5.1
    
    
    
    5.0Provision for income taxes
    
    
    2.1
    
    
    
    2.1
    
    
    
    1.9
    
    
    
    1.8Net income
    
    
    3.4
    %
    
    
    3.7
    %
    
    
    3.2
    %
    
    
    3.2
    %
 Twenty-six Weeks Ended July 2, 2005 Compared to Twenty-six Weeks ended July 3, 2004
 Operating revenues.
 Purchased transportation.
 16




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Commissions expense.
 Other operating expense.
 Selling, general and administrative.
 Insurance and claims.
 Depreciation and amortization.
 17




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Interest expense (income), net.
 Provision for income taxes.
 Thirteen Weeks Ended July 2, 2005 Compared to Thirteen Weeks ended July 3, 2004
 Operating revenues.
 Purchased transportation.
 Commissions expense.
 18




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Other operating expense.
 Selling, general and administrative.
 Insurance and claims.
 Depreciation and amortization.
 Interest expense (income), net.
 Provision for income taxes.
 19




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Liquidity and Capital Resources
       Secured Lines of Credit
  20




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##### Table of Contents



Secured Equipment Loans and Capital Lease Obligations
    21




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Discussion of Cash Flows
     Off Balance Sheet Arrangements
   Critical Accounting Policies
  Effect of Recent Accounting Pronouncements
  22




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Effects of Inflation
  Seasonality
  
 ITEM 3: QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
 Interest Rate Risk
    23




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Commodity Price Risk
  
 ITEM 4: CONTROLS AND PROCEDURES
 Disclosure Controls and Procedures
  Internal Controls
  
 PART II  OTHER INFORMATION
 
 ITEM 1: LEGAL PROCEEDINGS
  
 ITEM 2: UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
  
 ITEM 3: DEFAULTS UPON SENIOR SECURITIES
  
 ITEM 4: SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
  24




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ITEM 5: OTHER INFORMATION
  
 ITEM 6: EXHIBITS
   25




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SIGNATURES
  Universal Truckload Services, Inc.
   (Registrant)Date: August 10, 2005
    By:
    /S/ Robert E. SiglerRobert E. Sigler, Vice President, ChiefFinancial Officer, Secretary and
Treasurer Date: August 10, 2005
    By:
    /S/ Donald B. CochranDonald B. Cochran, President and ChiefExecutive Officer 26




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EXHIBIT INDEX
 ExhibitNo.
    
    Description2.1
    
    Purchase Agreement, dated as of August 12, 2004, between Angelo A. Fonzi and Universal
Truckload Services, Inc. (Incorporated by reference to Exhibit 2.1 to the Registrants
Registration Statement on Form S-1 filed on November 15, 2004 (Commission File No.
333-120510))3.1
    
    Amended and Restated Articles of Incorporation (Incorporated by reference to Exhibit 3.1 to
the Registrants Registration Statement on Form S-1 filed on November 15, 2004 (Commission
File No. 333-120510))3.2
    
    Amended and Restated Bylaws, as amended on December 10, 2004 (Incorporated by reference to
Exhibit 3.2 to the Registrants Registration Statement on Form S-1 filed on January 7, 2005
(Commission File No. 333-120510))4.1
    
    Registration Rights Agreement, dated as of December 31, 2004, among the Registrant, Matthew
T. Moroun and The Manuel J. Moroun Trust (Incorporated by reference to Exhibit 4.1 to the
Registrants Registration Statement on Form S-1 filed on January 7, 2005 (Commission File
No. 333-120510))4.2
    
    Specimen Common Share Certificate (Incorporated by reference to Exhibit 4.2 to the
Registrants Registration Statement on Form S-1 filed on November 15, 2004 (Commission File
No. 333-120510))10.1+
    
    Form of indemnification agreement entered into by the Registrant with each of its directors
and officers (Incorporated by reference to Exhibit 10.1 to the Registrants Registration
Statement on Form S-1 filed on January 7, 2005 (Commission File No. 333-120510))10.2+
    
    Universal Truckload Services, Inc. Stock Incentive Plan (Incorporated by reference to
Exhibit 10.2 to the Registrants Registration Statement on Form S-1 filed on January 7,
2005 (Commission File No. 333-120510))10.3+
    
    Employment Agreement, dated as of September 13, 2004, by and between Universal Truckload
Services, Inc. and Don Cochran (Incorporated by reference to Exhibit 10.3 to the
Registrants Registration Statement on Form S-1 filed on November 15, 2004 (Commission File
No. 333-120510))10.4+
    
    Employment Agreement, dated as of September 13, 2004, by and between Universal Truckload
Services, Inc. and Bob Sigler (Incorporated by reference to Exhibit 10.4 to the
Registrants Registration Statement on Form S-1 filed on November 15, 2004 (Commission File
No. 333-120510))10.5+
    
    Employment Agreement, dated as of September 13, 2004, by and between Universal Truckload
Services, Inc. and Leo Blumenauer (Incorporated by reference to Exhibit 10.5 to the
Registrants Registration Statement on Form S-1 filed on November 15, 2004 (Commission File
No. 333-120510))10.6+
    
    Consulting Agreement, dated as of August 12, 2004, between Universal Am-Can, Ltd. And
Angelo A. Fonzi (Incorporated by reference to Exhibit 10.6 to the Registrants Registration
Statement on Form S-1 filed on November 15, 2004 (Commission File No. 333-120510))10.7+
    
    Covenant Not to Compete, dated as of August 12, 2004, between Angelo A. Fonzi, Universal
Am-Can, Ltd. and Universal Truckload Services, Inc. (Incorporated by reference to Exhibit
10.7 to the Registrants Registration Statement on Form S-1 filed on November 15, 2004
(Commission File No. 333-120510))10.8
    
    Second Amendment to Loan Agreement, dated as of June 29, 2004, by and among Universal
Truckload Services, Inc., Universal Am-Can, Ltd., The Mason and Dixon Lines, Inc.,
Mason-Dixon Intermodal, Inc., Economy Transport, Inc., Louisiana Transportation, Inc. and
First Tennessee Bank National Association (Incorporated by reference to Exhibit 10.8 to the
Registrants Registration Statement on Form S-1 filed on November 15, 2004 (Commission File
No. 333-120510))10.9
    
    Second Amendment to Security Agreement, dated as of June 29, 2004, by and between Universal
Am-Can, Ltd. and First Tennessee Bank National Association (Incorporated by reference to
Exhibit 10.9 to the Registrants Registration Statement on Form S-1 filed on November 15,
2004 (Commission File No. 333-120510))10.10
    
    Second Amendment to Security Agreement, dated as of June 29, 2004, by and between The Mason
and Dixon Lines, Inc. and First Tennessee Bank National Association (Incorporated by
reference to Exhibit 10.10 to the Registrants Registration Statement on Form S-1 filed on
November 15, 2004 (Commission File No. 333-120510))10.11
    
    First Amendment to Security Agreement, dated as of June 29, 2004, by and between Mason
Dixon Intermodal, Inc. and First Tennessee Bank National Association (Incorporated by
reference to Exhibit 10.11 to the Registrants Registration Statement on Form S-1 filed on
November 15, 2004 (Commission File No. 333-120510))10.12
    
    Security Agreement, dated as of June 29, 2004, by and between Economy Transport, Inc. and
First
 27




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##### Table of Contents



ExhibitNo.
    
    DescriptionTennessee Bank National Association (Incorporated by reference to Exhibit 10.12 to
the Registrants Registration Statement on Form S-1 filed on January 7, 2005 (Commission
File No. 333-120510))10.13
    
    Security Agreement, dated as of June 29, 2004, by and between Louisiana Transportation, Inc.
and First Tennessee Bank National Association (Incorporated by reference to Exhibit 10.13
to the Registrants Registration Statement on Form S-1 filed on November 15, 2004
(Commission File No. 333-120510))10.14
    
    Tax Separation Agreement, dated as of December 31, 2004, between CenTra, Inc. and the
Registrant (Incorporated by reference to Exhibit 10.14 to the Registrants Registration
Statement on Form S-1 filed on January 7, 2005 (Commission File No. 333-120510))10.15
    
    Transitional Services Agreement, dated as of December 31, 2004, between the Registrant and
CenTra, Inc. (Incorporated by reference to Exhibit 10.15 to the Registrants Registration
Statement on Form S-1 filed on January 7, 2005 (Commission File No. 333-120510))10.16
    
    Fourth Amendment to Loan Agreement, dated as of December 27, 2004, by and among Universal
Truckload Services, Inc., Universal Am-Can, Ltd., The Mason and Dixon Lines, Inc., Mason
Dixon Intermodal, Inc., Economy Transport, Inc., Louisiana Transportation, Inc., Great
American Logistics, Inc. and First Tennessee Bank National Association (Incorporated by
reference to Exhibit 10.16 to the Registrants Registration Statement on Form S-1 filed on
January 7, 2005 (Commission File No. 333-120510))10.17
    
    Debt Subordination Agreement, dated as of December 27, 2004, by and among CenTra, Inc.,
Universal Truckload Services, Inc., and First Tennessee Bank National Association
(Incorporated by reference to Exhibit 10.17 to the Registrants Registration Statement on
Form S-1 filed on January 7, 2005 (Commission File No. 333-120510))10.18+
    
    Universal Truckload Services, Inc. Incentive Compensation Plan C, Calendar Years 2004 
2006 (Incorporated by reference to Exhibit 10.18 to the Registrants Annual Report on Form
10-K filed on March 30, 2005 (Commission File No. 000-51142))31.1*
    
    Chief Executive Officer certification, as adopted pursuant to section 302 of the
Sarbanes-Oxley Act of 200231.2*
    
    Chief Financial Officer certification, as adopted pursuant to section 302 of the
Sarbanes-Oxley Act of 200232.1**
    
    Chief Executive Officer and Chief Financial Officer certification pursuant to 18 U.S.C.
Section 1350, as adopted pursuant to section 906 of the Sarbanes-Oxley Act of 2002
 
 *
    
    Filed herewith.**
    
    Furnished herewith+
    
    Indicates a management contract, compensatory plan or arrangement. 28