Pacer International reports 42% increase in income from operations for 2011
Pacer International has reported net income of $27m in 2011, a 42% increase compared to $18.9m in 2010. However the company noted that the 2010 figures were negatively impacted by Hurricane Alex by approximately $3.5-4m.
In 2011, the company recorded revenues of $1.48bn, compared to $1.5bn in 2010. Intermodal revenues improved by $109.1m or 10.2% excluding revenues from the transitioned east-west big box business during 2010, while logistics revenues decreased by 28.1% to $303.5m primarily due to the absence of the low-margin military shipments in the company's international operations in the 2011 period."We continue to focus on our growth in the attractive intermodal environment and to accelerate financial improvements in our logistics businesses. These will be key areas of focus for us the first half of 2012," said Daniel W. Avramovich, chairman and CEO of Pacer International.