P.A.M. Transportation Services Inc. announced today, July 13, that Daniel H. Cushman has been appointed as the company’s new president and begins work today. PTSI says Cushman brings with him many years of successful experience in all facets of the transportation industry, and has held prestigious positions at companies such as Roadway Express, Triple Crown Services, Werner Enterprises and, most recently, CRST.
PTSI, a publically-traded truckload dry van carrier based in Tontitown, Ark., also expressed its thanks to outgoing president Robert Weaver for his many years of service, leadership and success. The company says that as Weaver’s contract concludes this month and his term as president ends, he has agreed to consult with PTSI and assist in an orderly transition as PTSI pursues its strategic growth plan.
PTSI reported a net loss of $3.35 million for the quarter ended March 31, compared to net loss of $2.83 million for the quarter ended March 31, 2008. Operating revenues were $65.8 million compared to $105.8 million. The company reduced its truck count by 276 year-to-year and reduced its total employee count from 2,744 in January to 2,478 by the end of March.