P.A.M. Earnings Affected by Twister

Tontitown’s P.A.M. Transportation Services Inc. announced in July that net income for the second quarter ended June 30 was $4.04 million (36 cents per share) compared with its record 2002 second quarter net income of $5.03 million (45 cents per share).

“Revenue and earnings were good but not up to the desired expectations for the quarters compared,” Robert W. Weaver, the firm’s president & CEO said in a prepared statement.

Weaver said the tornado that struck Oklahoma City on May 8 destroyed a portion of the Oklahoma General Motors facility, a big client of P.A.M.’s, and shut down the plant for the remainder of the quarter. That caused a disruption to P.A.M.’s utilization, he said.