Revenue up, income down at P.A.M. Transportation
Oct 29, 2003 12:00 PM
P.A.M. Transportation Services Inc. said its operating revenues for the third quarter rose, though its net income for the same period shrunk. "In light of the current economic climate, I was generally pleased with our revenue increase for the quarter but not so with the net income," said president Robert W. Weaver. P.A.M. reported net income of $2,964,507 for the quarter compared to net income of $3,957,465 during the same period in 2002. Operating revenues of $74,215,880 were reported for the quarter, a 14.1% increase compared to the third quarter of 2002. Operating revenues for the nine months ended September 30 were $219,311,194, a 10.1% increase compared to the first nine months of 2002. Weaver stated the carrier's driver recruiting results continue to improve, saying the company has successfully staffed about half of the units that were unmanned at the end of the second quarter.
