P.A.M. Transportation Services on Tuesday, Oct. 28, reported net loss of $3,180,856 for the quarter ended Sept. 30, and net loss of $7,340,901 for the nine-month period then ended. These results compare to net income of $36,178 and $3,493,402, respectively, for the three and nine months ended Sept. 30, 2007.
Operating revenues were $105,958,070 for the third quarter, a 4.7 percent increase compared to $101,170,999. Operating revenues were $322,708,237 for the nine-month period, a 5.2 percent increase compared to $306,679,071.
“Although both August and September posted a positive operating income, it was not enough to overcome the operating loss sustained in July,” said Robert Weaver, president of Tontitown, Ark.-based P.A.M. Transportation Services. “Current commodity prices have resulted in a downward trend in fuel prices that allowed an improvement in our ability to recover excessive fuel costs during the quarter. … While quarter-over-quarter and year-over-year improvements in various areas have been made from our initiatives, the greatest current factors impacting results continue to be demand for our services and fuel prices.”