This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

P.A.M. Transportation Services, Inc. Announces Results For The Third Quarter Ended September 30, 2010

TONTITOWN, Ark., Oct. 27, 2010 (GLOBE NEWSWIRE) -- P.A.M. Transportation Services, Inc. (Nasdaq:PTSI) today reported net loss of $490,727 or diluted and basic loss per share of $0.05 for the quarter ended September 30, 2010, and net income of $455,403 or diluted and basic earnings per share of $0.05 for the nine month period then ended. These results compare to a net loss of $1,229,753 or diluted and basic loss per share of $0.13, and net loss of $6,931,995 or diluted and basic loss per share of $0.74, respectively, for the three and nine months ended September 30, 2009.

Operating revenues, including revenue from fuel surcharges, were $86,706,023 for the third quarter of 2010, a 13.0% increase compared to $76,743,324 for the third quarter of 2009. Operating revenues, including fuel surcharges, were $253,790,755 for the nine months ended September 30, 2010, a 20.3% increase compared to $211,037,835 for the nine months ended September 30, 2009.

Daniel H. Cushman, President of the Company, commented, "Third quarter results did not meet our expectations. After making money in the second quarter, following several quarters of losses, we had hoped we had turned the corner to consistent profitability. A softer freight market in the third quarter along with some increased costs slowed our momentum. We were pleased by our continued progress in several key areas. Our rate per total mile improved by 4.2% from the second quarter 2010 to the third quarter 2010. For the third quarter 2010 compared to the third quarter 2009, we were able to increase our rate per total mile by 3.1%, while reducing miles traveled hauling brokerage freight to 2.7% from 7.2% of total miles, and reducing empty miles to 6.1% from 7.6%. Improvements in negotiated fuel surcharges for the quarter ended September 30, 2010 allowed us to reduce our cost per gallon of fuel, net of surcharge, despite a 13.2% increase in the gross cost per gallon of our fuel compared to the same quarter in 2009. We have also seen growth in our expedited, dedicated and Mexico service offerings.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,843.84 -291.88 -1.61%
S&P 500 2,072.98 -28.06 -1.34%
NASDAQ 4,930.3720 -52.4370 -1.05%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs