TL carrier P.A.M. Transportation Services said both its revenues and net income rose sharply in 2001, despite the recession and the aftershocks of September 11.
Tontittown, AR-based P.A.M. said its revenues topped $225.7 million, up from $205.2 million in 2000. Its net income jumped to just over $10 million, up from net income of $8.6 million.
For the fourth quarter, P.A.M. said its net income rose just a little, to $2.54 million, compared to $2.36 million in the same period of 2000. The carrier's revenues for the quarter increased to $56.2 million compared to $50.9 million in the fourth quarter of 2000.
The company said its fourth quarter earnings were impacted by a one time write-down in equipment values of $523,000, primarily related to equipment acquired in its recent acquisition of Decker Transport Inc.