Pacer Swings to Fourth-Quarter Profit

Pacer International on Thursday reported a fourth-quarter profit, turning around a loss in the same quarter a year ago.

Net income was $1.1 million, or 3 cents a share, compared with a loss of $1.1 million, or 3 cents, in the prior year. Income from operations jumped to $4.2 million, from $1 million a year ago.

Revenue declined to $358 million, from $373.3 million a year ago, the transportation and third-party logistics firm said in a statement.

For the full year, Pacer earned $13.9 million, or 40 cents per share, compared to $900,000, or 3 cents, in 2010. Revenue slipped slightly to $1.48 billion.

The company said it expects 2012 revenues to range between $1.5 billion and $1.525 billion and earnings per share to range between 35 and 41 cents.