Pacer International, Inc. (Nasdaq: PACR), the asset-light North American freight transportation and logistics services provider, today reported financial results for the three and six month periods ended June 30, 2011.
SECOND QUARTER RESULTS
- Revenues were $386.3 million. Excluding revenues from the transitioned east-west big box business during 2010, intermodal revenues improved by $27.2 million or 9.8%;
- Gross margin percentage improved to 12.0% in the 2011 period compared to 11.2% in the 2010 period;
- Selling, general and administrative expenses decreased $3.2 million or 8%;
- Income from operations increased $4.3 million or 134% to $7.5 million;
- Operating margin percentage improved to 1.9% in the 2011 period compared to 0.8% in the 2010 period;
- Net income increased by $2.8 million to $4.2 million; and
- Earnings per share increased by $0.08 to earnings per share of $0.12 in 2011.
|(In millions, except for per share data)|
|Gross margin %||11.7%||12.0%||11.2%|
|Income from operations||3.9||7.5||3.2|
|Operating margin %||1.1%||1.9%||0.8%|
|Earnings per share||$||0.06||$||0.12||$||0.04|
“We continued on the track of improved sustainable profitability as our earnings per share increased to $0.12 for the quarter and to $0.18 year-to-date. Our continued focus on growth and leveraging our SG&A has resulted in our positive financial results to date,” said John J. Hafferty, CFO of Pacer.
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