PACER INTERNATIONAL REPORTS JUMP IN OPERATING INCOME

PACER INTERNATIONAL REPORTS JUMP IN OPERATING INCOME

   Pacer International, the North American freight transportation and logistics service provider, reported operating income of $17.5 million for the quarter ended April 7, up 130 percent from the year earlier quarter.

   First-quarter revenue was $304.2 million, up 86 percent from $163.6 million in the first quarter of 1999. Pacer's first-quarter results include both Pacer's logistics and intermodal operations as well as the operations of Pacer Stacktrain, its North American stacktrain system. The first quarter of 1999 was solely Packer Stacktrain operations.

   'Pacer's pro forma first-quarter net income was $4.4 million, up $600,000 from the year-earlier quarter.

   Logistics and intermodal operations accounted for $109.5 million of the revenue increase and $4.8 million of the operating income increase. Pacer Stacktrain's revenues increase $39.5 million or 24.1 percent for the quarter due to increased volume handled. The stacktrain unit's operating income increased $5.1 million, or 67.1 percent.