Pacer’s first quarter profit up 21%
Concord, Calif.-based intermodal operator, Pacer International Inc. first quarter net income jumped 21 percent to $11.4 million from $9.4 million earned in the same quarter last year.
Don Orris, Pacer’s chairman and chief executive officer, said the financial performance represented the company’s best first quarter results for five years. “This reflects operating improvements in both our retail and wholesale segments despite a January rail embargo of Southern California locations due to severe weather, and continuing rail service issues,” Orris said.
Pacer’s total revenues for the latest quarter increased 10 percent to $460.1 million, from $417.5 million in the first quarter of 2004.