Dallas, Texas 04/29/2014 (ustradevoice) – P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) continues its uptrend since the time it reported its first quarter results ended on March 31, 2014.
Positive Quarter
As for the quarter, P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) attained a net income of $1,356,607 or on the diluted basis of $0.17 per share compared to net loss of $456,267 or diluted per share loss of $0.05 in the same quarter previous year. The operating revenue stood at $97,820,394 in the first quarter as against $99,981,938 in the same quarter previous year. The company’s President, Daniel H. Cushman, made a note that the first quarter was very rough for the company due to severe weather conditions that made operations difficult. However, Cushman was pleased that, despite the rough weather, the company posted an operating profit of $2.8 million, which signifies the success of the profit model that the company works on. Cushman highlighted that there is a looming concern of tightening of industrial capacity, and it is the need of the time to lock-in the little capacity left at this point of time.
Driver Turnover Ratio A Key Goal
Additionally, Cushman stressed on the fact that the company needs to boost the number of drivers this year and should concentrate on restricting the driver turnover ratio. The company has seen a significant delay and inconsistent results in its recruiting results, which was again impacted by the weather as potential candidates could not turn up during the severe winter season. Therefore, it becomes all the more crucial for a company to design a freight base in order to attract drivers and reduce turnover and the company has started seeing some initial positive outcome of its efforts. The company is expanding in its Dedicated, Mexico, Expedited and Automotive Divisions, all of which are profitable and where P.A.M. Transportation Services, Inc. (NASDAQ:PTSI) can appeal and retain drivers. In the meantime, the company has successfully reduced the age of its truck fleet from 1.5 years to 3.5 years and is benefiting from the increased performance and lower operating costs.
