Pacer's income and revenues grow
Third-party logistics and freight transportation provider Pacer International Inc. said today that its first-quarter net income and net revenues increased compared to the same period last year.
The company said its net income doubled from $3.7 million to $7.4 million for the quarter. Income from operations in the quarter increased 19.1% to $18.7 million from $15.7 million a year earlier.
Pacer's net revenues increased 13.6% to $94.5 million from $83.2 million in the same quarter of 2002. Additionally, the company had $14.9 million of cash flow from operations and paid down $10.3 million of debt in the quarter.