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
TheStreet Open House

Pacer International Reports Fourth Quarter Results

Stock quotes 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, 2012.

FOURTH QUARTER RESULTS

  • Income from operations increased 9.0%, excluding the impact of realignment expense of $0.8 million and $0.3 million in 2012 and 2011, respectively. Intermodal income from operations increased $2.3 million and logistics income from operations decreased $1.4 million;
  • Earnings per share improved by $0.03 to $0.06 in 2012. Excluding the effect of the 2012 realignment expense of $0.02 per share, earnings per share was $0.08 in 2012;
  • Intermodal revenues improved by $7.2 million or 2.5% while logistics revenues declined by 16.1% to $57.3 million. Total revenues decreased by 1.7% to $351.9 million;
  • Intermodal gross margin improved by $2.7 million and logistics gross margin declined by $2.5 million. Total gross margin percentage increased by 20 basis points;
  • Net income increased $1.1 million to $2.2 million;
  • Cash provided by operating activities increased by $2.9 million or 40.8%, from $7.1 million in the fourth quarter of 2011 to $10.0 million in the fourth quarter of 2012.

(In millions, except for per share data)

          2012       2011
Q1       Q2       Q3       Q4 Q4
Revenue $ 345.9 $ 368.3 $ 348.9 $ 351.9 $ 358.0
Gross margin $ 31.9 $ 32.4 $ 31.7 $ 35.9 $ 35.7
Gross margin % 9.2 % 8.8 % 9.1 % 10.2 % 10.0 %
SG&A $ 31.9 $ 29.9 $ 29.6 $ 32.0 $ 31.5
Income from operations 2.5 2.3 4.1 4.2
Net income (loss) (0.3 ) 1.3 1.1 2.2 1.1
Earnings (loss) per share $ (0.01 ) $ 0.04 $ 0.03 $ 0.06 $ 0.03
 
 

“The quarter was much improved from the previous three as we were focused on improving under-performing traffic corridors and reducing controllable costs to help offset rising external purchased transportation costs. We are also excited about the new opportunities created by our new cross border auto agreement with the Union Pacific. We will pursue automotive parts shipments as a retail provider of door-to-door intermodal services and continue the development of our east-west intermodal business to grow our intermodal segment,” said Daniel W. Avramovich, Chairman and Chief Executive Officer.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • 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