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Pacer’s Fourth-Quarter Income Rises; Revenue Dips
Transportation and third-party logistics firm Pacer International’s fourth-quarter net income rose to $21.5 million or 57 cents a share, from $20.4 million or 54 cents a year earlier.
Revenue for the quarter dipped $1.8 million to $502 million, the company said late Wednesday. Income from operations rose $1.1 million to $37.1 million.For the year, Pacer earned $68.3 million or $1.80 per share, up from $50.9 million or $1.34 in 2005.Revenue for the year rose to $1.887 billion from $1.860 billion a year earlier.Pacer in November named Michael Uremovich to succeed founder Donald Orris as chief executive officer. (Click here for previous coverage.)It has reorganized its wholesale and retail segments of its business into new intermodal and logistics segments, Uremovich said in a statement.Pacer is ranked No. 18 the Transport Topics 100 list of U.S. and Canadian for-hire trucking companies.