P.A.M. Enjoys Strong 1Q

P.A.M. Transportation Services Inc. of Tontitown had a 24 percent increase in net income for the first quarter of 2001 ($2.64 million) compared with the same three-month period of 2000 ($2.13 million).

First-quarter revenues for 2001 increased 7.9 percent to $58.41 million compared to $54.15 in the same quarter of 2000.

P.A.M. enjoyed a resurgence in the last month. After its stock hit its lowest since 1997 at $5.88 per share on April 4, it had risen to $9.73 by midday May 16.

P.A.M. President Robert W. Weaver said his company is doing as well as can be expected during such turbulent times in the trucking industry.

“Given the current environment of the industry we are very pleased with our first-quarter results and are optimistic about continuing success,” Weaver said.

P.A.M. is an irregular route, common and contract motor carrier authorized to transport general commodities throughout the continental United States and the Canadian provinces of Ontario and Quebec.

Shares of P.A.M. (Nasdaq: PTSI) were trading at $9.73 Wednesday after closing at $9.75 on Tuesday.