P.A.M.’s Third-Quarter Income Drops; Revenue Rises

Click here to write a Letter to the Editor.

ruckload carrier P.A.M. Transportation Services reported late Thursday that its third-quarter net income dipped to $2.2 million or 20 cents a share, from $3.1 million or 28 cents for the same period last year.

img src="/sites/default/files/images/articles/pamlogo.gif" width=80 align=right>Operating revenue excluding fuel surcharges rose 5.1% to $79.1 million, the company said in a statement.

"The increased cost of fuel . . . reduced earnings per share [by] 14 cents and was the single largest factor that adversely affected earnings,” P.A.M. President Robert Weaver said.

He said he “was very encouraged by the results posted for both August and September. Unfortunately, these favorable months were not enough to completely overcome the typical July revenue reduction that results each year when certain of the company's largest customers schedule plant shutdowns.”

The company increased driver pay by 3 cents a mile last October, its statement said.

P.A.M., Tontitown, Ark., is ranked No. 67 on the Transport Topics 100 list of the largest U.S. and Canadian trucking companies.