Pacer Reports Adjusted Earnings Increase for 2Q

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ransportation and third-party logistics firm Pacer International reported late Tuesday net income for its fiscal second quarter ended July 1 of $4.6 million or 12 cents a share, compared with $6.7 million or 18 cents a year earlier.

Including adjustments for software development writeoffs, the company’s earnings were $11.3 million or 30 cents a share, compared with $9.5 million or 25 cents a year earlier, Pacer said in a statement.

Revenue rose 7.8% to $454.6 million.

“We are pleased with the fundamental progress . . . notwithstanding the impact of the non-cash writeoff of computer software and the costs of legal settlements,” said Pacer’s Chairman and Chief Executive Officer Don Orris.

Adjusted income from operations for the company’s wholesale segment rose almost 23%, Orris said in a statement.

Pacer is ranked No. 16 the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.