P.A.M. Reports $3.4 Million First-Quarter Loss

Truckload carrier P.A.M. Transportation Services reported a first-quarter loss of $3.4 million, or 36 cents per share, compared with a loss of $2.8 million, or 29 cents, a year ago.

Operating revenue fell 37.8% to $65.8 million, P.A.M. said in a statement.

Robert Weaver, president of P.A.M., said that one third of the loss was due to a decrease in fuel surcharge revenue, which itself was a result of lower fuel prices in the first quarter of 2009 than the same quarter in 2008.

P.A.M. is ranked No. 62 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.