P.A.M. Posts 1Q Net Loss

P.A.M. Transportation Services Inc. said Wednesday that higher worker’s compensation costs and diesel prices accounted for much of the first-quarter increase in operational expenses.

Reporting after market close, the Tontitown-based carrier said it had a net loss of $456,267, or 5 cents per share, for the quarter that ended March 31, compared to earnings of $674,193, or 8 cents per share, in the same period a year ago.

Revenue, including fuel surcharges, rose 3.97 percent to $99.98 million.

P.A.M. president and CEO Dan Cushman said in a news release that growth in expenses outpaced year-over-year revenue growth.

“While we have been successful in keeping our trucks manned, costs associated with attracting, training and qualifying enough drivers to outpace turnover are increasing,” Cushman said in the release.

Also, diesel prices averaged about 6 cents more per gallon than in the first quarter of 2012, he said.

“We continue to focus on fuel-saving strategies involving equipment specifications, driver performance bonuses, improving fuel surcharge coverage and fuel cost negotiation, among others,” Cushman said.

P.A.M.’s shares closed Wednesday at $10.87 on the Nasdaq, down 36 cents or 3.2 percent. Shares have traded between $8.81 and $11.75 in the past year.