Transport Topics Online  
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
10/24/2013 4:25:00 PM Write a Letter to the Editor Write a letter to the Editor

Pacer Reports Doubled 3Q Profit


Sean Lamb/Wikimedia

Pacer International Inc. more than doubled third-quarter profits from a year ago, but its intermodal and logistics revenue declined, the company reported.

Net income was $2.9 million, or 8 cents a share, compared with $1.1 million, or 3 cents, a year ago.

Intermodal revenue dropped 33.6% to $193.3 million from $291 million in 2012, and logistics revenue fell 1.1% to $57 million from $58.1 million in 2012.

“We continue to see improved operating results in our intermodal segment from the efforts we have taken to further lower our network costs through better management of our empty miles, network flows, and box utilization,” CEO Daniel Avramovich said in a statement. “Our logistics segment, while not yet profitable, has improved significantly over the last four quarters.”

Revenue fell about 28.3% to $250 million from $ 348.9 million a year ago. Total revenues decreased primarily because of Pacer’s new cross-border agreement with Union Pacific railroad, according to the company.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2013, Transport Topics Publishing Group. All rights reserved.


  RELATED ARTICLES

 
LATEST NEWS



 
LATEST JOBS
Follow Us

Newsletters

TTExpress
This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.

Services

Advertising

EMU
iTech
© American Trucking Associations, Inc., All Rights Reserved TTNews.com Privacy Statement