P.A.M. Transportation Services reported a 146 percent increase in fourth-quarter income, reaching $4.3 million. The Tontitown, Ark.-based trucking company reported net income of $1.8 million during the same quarter last year.
Earnings for the year also grew. For 2005, P.A.M. reported net income of $13.1 million, up from 2004 net income of $10.6 million.
“Additionally, we had success in raising our rates by 14 percent, from an average rate of $1.18 per mile during the fourth quarter ended Dec. 31, 2004, to an average rate of $1.35 during the quarter ended Dec. 31, 2005,” says Robert W. Weaver, P.A.M. president. “Although we are pleased with these results, we know we still have work to do to reduce our operating ratio and to continue to increase our revenues and bottom-line profitability. We believe that we have the mechanisms in place to achieve these initiatives.”
P.A.M. also said operating revenue, excluding fuel surcharges, rose 8.2 percent from the comparable quarter to $83.9 million.