Truckload carrier P.A.M. Transportation Services returned to a profitable state in the second quarter, with net income of $1.3 million, or 13 cents a share.
This compares with a net loss of $5.7 million, or 61 cents a share, in the 2009 quarter.
The company's operating revenues, including fuel surcharges, were $85.2 million, up from about $68.5 million in the second quarter of 2009.
"We were very pleased with our operating results for the quarter, which were not only favorable for obvious financial reasons, but also to reinforce to everyone in our organization that our focused efforts yielded the desired results," said Daniel H. Cushman, president.
Those efforts include improving equipment utilization by 14.5 percent and reducing empty miles by 30.8 percent, he said.
"We are seeing a continued trend towards shipping capacity shortages in the marketplace," Cushman said. "There are several ways to approach a market that has turned favorable to carriers after a long period of being at a dramatic disadvantage due to overcapacity. We have chosen an approach of 'rate corrections' as opposed to 'rate increases.'"
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