Pacer reports 4th quarter loss
Pacer International reported a fourth quarter net loss of $1.1 million, compared to a net profit of $9.3 million in the same 2009 period.
Revenue was $373.3 million in the quarter ending Dec. 31, compared to $420.2 million in the fourth quarter of 2009.
For the year the company had net profit of about $900,000 compared to a loss of $174.8 million in 2009. Revenue was $1.5 billion compared to $1.57 billion in 2009.
Pacer said in the past year it has been able to replace “a significant portion” of the east/west 48-foot and 53-foot container business from intermodal marketing companies that was transitioned away from it when it renegotiated a new contract with Union Pacific.
