This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Pacer International Reports Three Fold Increase In Income From Operations For The Fourth Quarter

Stocks in this article: PACR

Pacer International, Inc. (Nasdaq: PACR), the asset-light North American freight transportation and logistics services provider, today reported financial results for the three-month period and the year ended December 31, 2011.


  • Income from operations more than tripled, increasing by $3.2 million to $4.2 million;
  • Earnings per share improved by $0.06 to be $0.03 in 2011;
  • 2011 adjusted earnings per share, which reflects the elimination of the deferred tax assets adjustment, is $0.07. See tabular reconciliation of adjusted earnings per share;
  • Intermodal revenues improved by $8.5 million or 3.0%, while logistics revenues decreased by 25.8% to $68.3 million primarily due to the absence of the low-margin military shipments in our international operations in the 2011 period. Overall, revenues decreased by 4.1% to $358.0 million;
  • Intermodal gross margin improved by $2.0 million but Logistics gross margin declined by $3.2 million;
  • Selling, general and administrative expenses decreased by $4.5 million or 11.4%;
  • Interest expense decreased by $2.4 million primarily due to loan origination costs of $1.6 million expensed in the 2010 period and lower borrowing levels; and income tax expense was $2.6 million which includes a $1.2 million adjustment to the deferred tax assets reflecting actions taken to lower our effective tax rate. The adjustment reduced earnings per share by $0.04.

(In millions, except for per share data)

2011 2010
Q1 Q2 Q3 Q4 Q4
Revenue $ 358.4 $ 386.3 $ 375.8 $ 358.0 $ 373.3
Gross margin $ 42.1 $ 46.3 $ 46.0 $ 41.0 $ 42.2
Gross margin % 11.7% 12.0% 12.2% 11.5% 11.3%
SG&A $ 36.5 $ 37.0 $ 37.5 $ 35.0 $ 39.5
Income from operations 3.9 7.5 11.4 4.2 1.0
Interest Expense 0.6 0.7 0.5 0.5 2.9
Earnings per share $ 0.06 $ 0.12 $ 0.19 $ 0.03 $ (0.03)

“We are pleased with our fourth consecutive quarter of more than doubling our earnings year over year. Our company continues to drive double digit earnings growth despite the turbulent global economic environment. We continue to generate positive cash flow, as our cash flow from operations has increased more than $17 million during 2011. We now look for opportunities to reinvest our cash back into our business to drive future earnings growth,” said John J. Hafferty, CFO of Pacer.

1 of 4

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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