P.A.M. Transportation Posts 4Q Gain, Annual Loss
by February 10, 2012 10:19 am 97 views
P.A.M. Transportation Services Inc.’s fourth-quarter profit of $133,037, or 2 cents per share, wasn’t enough to prevent a widening annual loss as the company continues trying to build a “sustainable profit model.”
The Tontitown-based transportation and logistics company reported financial results Thursday for the quarter that ended Dec. 31 and the fiscal year.
In the fourth quarter of 2010, P.A.M. had a net loss of $1.1 million, or 12 cents per share.
The company’s fourth-quarter results beat Wall Street’s estimated loss of 12 cents per share.
Revenue rose 14 percent to $89.39 million from $78.2 million in the quarter.
For the year, P.A.M. lost $2.86 million, or 32 cents per share, compared with a loss of $654,728, or 7 cents per share, in 2010.
Revenue rose 8 percent to $359.24 million from $331.99 million.
In a news release, president and CEO Daniel Cushman said the company’s focus since he took the post in 2009 “has been to build a sustainable profit model.”
“While this sounds basic and fundamental,” he said, “the execution of the concept requires discipline and perseverance, and often means forgoing short-term profit opportunities in favor of investing in the long-term sustainable profit plan.”
Since Cushman’s arrival, the company’s losses haven’t been as severe as in 2008, when the company lost $18.7 million. In 2009, the company lost $10.8 million.
P.A.M.’s shares were trading at $10.85 on the Nasdaq at mid-morning Friday, up 9 cents, or 0.84 percent, from Thursday’s close. Shares have traded between $9.03 and $13.14 in the past year.