Pacer Swings to Second-Quarter Profit
Transportation and third-party logistics firm Pacer International earned $1.4 million, or 4 cents a share, in the second quarter, turning around a loss of $7.3 million, or 21 cents, a year ago.
Revenue rose to $401 million, from $376.7 million a year ago, the company said. Income from operations was $3.2 million, compared with an $11.8 million loss a year ago.
Intermodal income from operations rose to $6.7 million, from an operating loss of $5.7 million a year ago. Logistics income from operations was $1.7 million, from a loss of $1.4 million last year.
The company is “experiencing sustained success in our transformation to a direct to end-customer integrated service model,” Chairman and Chief Executive Officer Daniel Avramovich said in a statement.
Pacer shuffled its top management in June. (Click here for previous story.)
