P.A.M. ‘very pleased’ with 2Q earnings growth

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Pam Transport

P.A.M. Transportation Services Inc. on Thursday, July 26, reported net income of $934,791 for the quarter ended June 30 and net income of $1.6 million for the six-month period, compared to net income of $692,763 and net loss of $1.28 million for the three and six months ended June 30, 2011.

Operating revenues, including revenue from fuel surcharges, were $94.16 million for the second quarter, a 1.8 percent decrease compared to $95.9 million for the second quarter of 2011. Operating revenues, including fuel surcharges, were $190.3 million for the six-month period, a 5.2 percent increase compared to $180.9 million for the six months ended June 30, 2011.

“We are very pleased to report our third consecutive quarter of sequential earnings growth,” said Daniel Cushman, president of the Tontitown, Ark.-based company. “We remain absolutely dedicated in our focus on the goal of a sustainable profit model and are very pleased to see many of our initiatives bearing fruit.”

Cushman said P.A.M. is having success expanding its owner-operator fleet. “We are focused on increasing our number of team drivers to facilitate growth in our Expedited Service offering,” he said. “While we are pleased with our year-over-year improvement for 2012 compared to 2011, we will not be satisfied until we are able to attain the goal of a sustainable profit model.”