Tontitown, AR-based truckload operator P.A.M. Transportation Services said its net income rose in the third quarter compared to the same quarter last year. However, earnings declined overall through the first nine months of 2004 as compared to 2003, as overall revenues remained relatively flat while fuel prices soared to record highs.
Robert Weaver, P.A.M.’s president, said net income reached over $3.14 million in the third quarter on 1.4% higher revenues of $75.2 million, while profits topped $8.82 million on 5.8% higher revenues of $231.9 million for the first nine months of 2004.
In terms of profits, those results compare to net income of $2.96 million in the third quarter last year and earnings of $9.82 million for the first nine months of 2003.
“While gross revenue remained relatively flat year to year … average revenue per mile increased 7.5% for the [third] quarter compared to 2003,” Weaver noted.
