P.A.M. Increased 4Q Net Income 13 Percent

P.A.M. Transportation Services Inc. of Tontitown on Feb. 8 announced a 13 percent net income increase for its fourth quarter from the same period last year.

P.A.M. — an irregular route, common and contract motor carrier — said fourth-quarter 2001 net income was $2.5 million, or 30 cents per share, compared to fourth-quarter 2000 net income of $2.4 million, 28 cents per share.

Revenues for the fourth quarter of 2001 were $56.3 million compared to $50.9 million in the same quarter of 2000. P.A.M. also said that net income for the year was about $10 million, or $1.18 per share, an increase from $8.7 million, or $1.02 per share.

Revenues were $225.8 million in 2001 compared to 2000 revenues of $205.2 million, the company said.

Robert W. Weaver, president of the company, said fourth-quarter earnings were affected by a one time write-down in equipment values of $523,000 — the equivalent of 4 cents per share. The write-down was related to equipment acquired as part of P.A.M.’s $49.8 million buyout of Decker Transport Inc. during January 1999, Weaver said.