Pacer Reports Higher 3Q Profit, Boosts Outlook

Pacer International on Thursday reported higher third-quarter profit and raised its full-year earnings outlook.

Earnings rose to $6.6 million, or 19 cents per share, from $1.1 million, or 3 cents, a year ago, the transportation and third-party logistics firm said Thursday.

The company increased its 2011 earnings per share guidance to between 42 cents and 45 cents.

Revenue increased 3% to $376 million. Intermodal revenue improved 18.2% to $302 million, while logistics revenues declined 32.6% to $74 million.

Pacer is now debt-free for the first time in its history as a public company and has cash to reinvest back into its business to drive future earnings, CFO John Hafferty said in a statement.