P.A.M.?s Revenue Is up; Net is Down

P.A.M. Transportation Services Inc. released its third quarter earnings on Oct. 27. While operating revenues increased 14 percent to $74.2 million compared with 2002’s third quarter tally of $65.1 million, net income decreased from 2002.r

“In light of the current economic climate, I was generally pleased with our revenue increase for the quarter but not so with the net income,” Robert W. Weaver, the company’s president, said in a released statement.r

Weaver said that driver-recruiting results continue to improve although the gains were offset by a reduced rate per mile that came as, a result of a bid process involving some “local” dedicated-contract service.r

The Tontitown truckload carrier reported a net income of $2.96 million and earnings of 26 cents per share for the third quarter. Net income was down 25 percent from 2002’s comparable period from $3.95 million to $2.96 million.r