Pacer’s 1Q Loss Decreases

Transportation and third-party logistics firm Pacer International said it lost $500,000, or 1 cent per share, compared with a $177.4 million loss, or $5.1, a year earlier.

Income from operations grew to $600,000, from a $223.1 million loss a year ago. Revenue increased 1.4% to $363.7 million in the quarter ended March 31, Pacer said late Wednesday.

Pacer’s intermodal unit saw an operating income of $5.7 million, compared with a loss of $189.6 million last year. Excluding a goodwill impairment charge and severance expenses, income increased to $5.9 million from $13.9 million in 2009.

Logistics operations lost $300,000, compared with a loss of $34.7 million a year ago. Excluding a goodwill impairment charge, the loss was $2.8 million in 2009., Pacer said.

Pacer International, which runs rail intermodal, less-than-truckload and warehousing operations, is ranked No. 16 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.