P.A.M. Transportation Services, Inc. shrunk its quarterly loss as conditions improved for the Tontitown-based trucking firm.
P.A.M. posted a net loss of $315,444 or diluted loss per share of $0.03 for the quarter ended March 31, 2010. One year ago, P.A.M. reported a $3.3 million loss, or $0.36 per share.
Revenues jumped nearly 25 percent to $81.8 million during the quarter.
"The first quarter of 2010 exceeded our expectations," said P.A.M. CEO Daniel Cushman. "While we are optimistic that we are doing the necessary things to regain profitability, we really hadn’t anticipated being as close to profitability as we were at the end the first quarter.
P.A.M. has been consolidating its operations in an effort to reduce costs. It says that more consolidation costs are anticipated in the second quarter.
Cushman cited cost controls, new business and better utilization of its truck force for the improvements.
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