Transportation and third-party logistics firm Pacer International said its fourth-quarter profit grew to $10 million, or 10 cents per share, compared with a $64 million loss, or $1.83 cents, a year earlier.
Income from operations rose $91.6 million to $18.3 million, from a loss of $73.3 million a year ago. Revenue fell $90.1 million to $420.2 million in the quarter ended Dec. 31, Pacer said late Tuesday.
Pacer’s intermodal unit saw an operating income of $23.5 million, compared with $16.7 million in 2008. Volumes in direct to end-consumer intermodal grew 10.7%, and automotive intermodal volume rose 12.9%
Logistics operations lost $100,000, compared with a loss of $87.4 million a year ago. The 2008 loss included a goodwill impairment charge, Pacer said.
For the full 2009 year, Pacer saw its net loss grow to $174.1 million, or $5.01 per share, from $16.4 million, or 47 cents, in 2008. It saw a loss from operations of $215.9 million, compared with $2 million income in 2008.
Revenue fell in the year to $1.6 million, compared with $2.1 billion the previous year.
Pacer International, which runs rail intermodal, less-than-truckload and warehousing operations, is ranked No. 16 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
