Pacer posts higher 2011 earnings, lower revenue

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Pacer International Inc. on Thursday, Feb. 9, announced earnings for the 2011 year of $13.9 million, up from $900,000 in 2010. Revenue was down 1.6 percent last year, but the company said it cut $1.49 billion in 2010 costs by 2.9 percent to $1.45 billion, helping it more than triple the money it made from operations to $27 million.

“Overall a good quarter, earnings were significantly better than prior year through cost controls, improving yields and network efficiencies,” said Daniel Avramovich, chief executive officer. “We continue to focus on our growth in this attractive intermodal environment and to accelerate financial improvements in our logistics businesses. These will be key areas of focus for us the first half of 2012.”