Pacer swings to $2M 1Q profit

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Pacer International, an asset-light North American freight transportation and logistics services provider, on Thursday, April 28, reported net income of $2 million for the three-month period ended March 31 compared to a $500,000 loss for the year-ago period, while income from operations increased by $3.3 million. Revenues were $358.4 million compared to $363.7 million; excluding the impact of the transition of the east-west big box business, intermodal revenues improved by $25.5 million or 10.0 percent.

“During the first quarter, we continued to make progress in achieving our strategic objectives on our journey toward becoming a world-class integrated global door-to-door transportation and solutions provider.” said Daniel Avramovich, chairman and chief executive officer of Dublin, Ohio-based Pacer. “We are pleased with our improved financial performance and increased customer service and quality, despite some difficult operating conditions with weather and rising fuel costs.”