P.A.M. Transportation Services, Inc. Announces Results For The Fourth Quarter And Year Ended December 31, 2012

P.A.M. Transportation Services, Inc. is a leading truckload dry van carrier transporting general commodities throughout the continental United States, as well as in the Canadian provinces of Ontario and Quebec. The Company also provides transportation services in Mexico through its gateways in Laredo and El Paso, Texas under agreements with Mexican carriers.

The PAM Transportation Services, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5148

Certain information included in this document contains or may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may relate to expected future financial and operating results or events, and are thus prospective. Such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, excess capacity in the trucking industry; surplus inventories; recessionary economic cycles and downturns in customers' business cycles; increases or rapid fluctuations in fuel prices, interest rates, fuel taxes, tolls, license and registration fees; the resale value of the Company's used equipment and the price of new equipment; increases in compensation for and difficulty in attracting and retaining qualified drivers and owner-operators; increases in insurance premiums and deductible amounts relating to accident, cargo, workers' compensation, health, and other claims; unanticipated increases in the number or amount of claims for which the Company is self insured; inability of the Company to continue to secure acceptable financing arrangements; seasonal factors such as harsh weather conditions that increase operating costs; competition from trucking, rail, and intermodal competitors including reductions in rates resulting from competitive bidding; the ability to identify acceptable acquisition candidates, consummate acquisitions, and integrate acquired operations; a significant reduction in or termination of the Company's trucking service by a key customer; terrorist attacks; war; natural disasters; risk of doing business internationally; and other factors, including risk factors, included from time to time in filings made by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks and uncertainties, the forward-looking events and circumstances discussed above and in company filings might not transpire.

P.A.M. Transportation Services, Inc. and Subsidiaries Key Financial and Operating Statistics (unaudited)
	Quarter ended December 31,		Twelve Months ended December 31,
	2012	2011	2012	2011
Revenue, before fuel surcharge	$74,398,457	$70,958,464	$297,698,165	$284,178,133
Fuel surcharge	21,374,211	18,429,893	82,934,597	75,064,827
	95,772,668	89,388,357	380,632,762	359,242,960
Operating expenses and costs:
Salaries, wages and benefits	37,979,888	29,830,833	139,062,229	118,321,257
Fuel expense	26,715,873	28,590,183	111,377,974	124,956,241
Operating supplies and expenses	9,264,374	9,810,899	39,010,789	38,658,940
Rent and purchased transportation	5,034,129	5,162,218	23,814,806	21,841,978
Depreciation	10,105,040	9,417,609	38,297,890	34,163,037
Operating taxes and licenses	1,277,739	1,239,585	5,003,437	4,951,919
Insurance and claims	3,662,053	3,243,919	13,744,172	13,069,554
Communications and utilities	574,842	590,923	2,234,532	2,495,684
Other	1,629,851	1,868,425	5,350,424	6,029,071
Loss (gain) on disposition of equipment	(76,566)	66,818	(166,251)	97,897
Total operating expenses and costs	96,167,223	89,821,412	377,730,002	364,585,578
Operating (loss) income	(394,555)	(433,055)	2,902,760	(5,342,618)
Interest expense	(783,837)	(442,012)	(2,595,371)	(1,798,720)
Non-operating income	610,719	226,029	3,287,939	1,551,110
(Loss) income before income taxes	(567,673)	(649,038)	3,595,328	(5,590,228)
Income tax (benefit) expense	(256,663)	(782,075)	1,416,447	(2,732,857)
Net (loss) income	$(311,010)	$133,037	$2,178,881	$(2,857,371)
Diluted (loss) earnings per share	$(0.04)	$0.02	$0.25	$(0.32)
Average shares outstanding – Diluted	8,701,607	8,798,373	8,701,924	9,055,595
	Quarter ended December 31,		Twelve Months ended December 31,
Truckload Operations	2012	2011	2012	2011
Total miles	50,241,983	47,892,476	200,765,378	195,080,700
Operating ratio*	100.74%	100.77%	99.18%	102.14%
Empty miles factor	8.52%	9.33%	8.72%	8.29%
Revenue per total mile, before fuel surcharge	$1.37	$1.38	$1.36	$1.36
Total loads	63,769	68,482	258,968	277,866
Revenue per truck per work day	$606	$587	$611	$591
Revenue per truck per week	$3,030	$2,935	$3,055	$2,955
Average company trucks	1,563	1,715	1,611	1,723
Average owner operator trucks	209	70	149	48
Logistics Operations
Total revenue	$5,645,912	$4,961,432	$24,280,406	$18,378,852
Operating ratio	97.96%	98.55%	97.33%	98.09%
* Operating ratio has been calculated based upon total operating expenses, net of fuel surcharge, as a percentage of revenue, before fuel surcharge. We used revenue, before fuel surcharge, and operating expenses, net of fuel surcharge, because we believe that eliminating this sometimes volatile source of revenue affords a more consistent basis for comparing our results of operations from period to period.

CONTACT: P.A.M. TRANSPORTATION SERVICES, INC.
         P.O. BOX 188
         Tontitown, AR 72770
         Lance K. Stewart
         [phone]

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