P.A.M. Transportation Services' second quarter was characterized by a net loss of $2.36 million, or 25 cents a share, versus a loss of $1.33 million, or 14 cents a share, during the second quarter of 2008.


The company's operating revenues were down to $68.5 million, compared to $110.9 million for the year-ago quarter. For the six months ending June 30, revenues amounted to $134 million, compared to $214.7 million for the first six months of 2008.

The company recently brought on a new president, Daniel Cushman, to replace Bob Weaver, whose contract expired.

"While P.T.S.I. is clearly disappointed in our results for 2009, I begin my tenure as President and I feel confident, from a cost stand point, we are in good shape," Cushman said. "There are always areas of improvement and new challenges that arise, but P.T.S.I. has done a commendable job managing the cost side of the business."

"As has been noted by seemingly everyone in the industry, general economic conditions are weak, capacity is readily available, and shippers have commitments to existing carriers that they wisely choose to respect," Cushman added.