P.A.M. Reports Net Income Spike
by March 31, 2003 12:00 am 68 views
P.A.M. Transportation Services Inc. on March 13 reported net income of $16.59 million, or diluted earnings per share of $1.55, for the year that ended Dec. 31, 2002, a 64.8 percent increase from its 2001 net income.
Net income for 2001 was $10.07 million, or diluted and basic earnings per share of $1.18.
Revenues for the Tontitown truckload carrier were up 16.9 percent at $264.01 million in 2002, compared to 2001 revenues of $225.79 million.
P.A.M. had fourth quarter 2002 net income of $4 million compared to $2.55 million during the same period in 2001. Revenues for the fourth quarter of 2002 were $64.82 million compared to $56.26 million in the same quarter of 2001.
“We’ve enjoyed a number of successes this year as reflected by the results presented above,” said Robert Weaver, president and CEO of P.A.M. “While it’s been a difficult year for the industry, our top- and bottom-line growth is attributable to the dedication and hard work shown by our employees. We are fortunate to have that kind of staff to meet the opportunities and challenges in 2003.”