P.A.M. Transportation Services Inc. on Friday announced third-quarter net income of $2.39 million, up 172 percent from the $880,907 profit the company posted in the third quarter of 2012.
Earnings per share for the quarter that ended Sept. 30 came to 28 cents, up 180 percent from 10 cents the previous third quarter, the Tontitown-based truckload dry van carrier said in a statement.
"Revenue, excluding revenue from fuel surcharges, grew by approximately $5.0 million and represented a 6.4% increase compared to the third quarter of 2012," P.A.M. President Daniel Cushman said in the statement. "The primary factors that contributed to this improvement included improved tractor utilization of 4.5% and a reduction of 1.5% in the empty miles ratio. Demand for our services was relatively strong and steady throughout the third quarter."