P.A.M. TransportationÆs income down
P.A.M. Transportation Services Inc., the Arkansas-based dry van truckload carrier reported third quarter net income of $2.2 million, down from $3.1 for the same quarter in 2004.
Company president Robert W. Weaver said increased fuel cost was the single-largest factor that adversely affected earnings, noting a 68-cent year-to-year increase in diesel fuel, before surcharges. A 3-cent-per-mile pay hike for drivers also contributed to the decline. A favorable disposition of a suit in 2004 added $635,000 to the results.