Improved intermodal volumes increased Pacer International's revenue but couldn't add to operating income or profit in the quarter ended June 29 this year.
Revenue increased 3.6 percent, to $474.9 million compared to $458.2 million for the quarter ended June 30, 2006. Income from operations declined $3.7 million from the 2006 quarter to $21.5 million for the 2007 quarter. Net income was down 13.8 percent to $12.5 million.
Intermodal segment income from operations declined $3 million from last year. Logistics segment income from operations increased $0.5 million from last year, and corporate expenses were $1.2 million higher than last year, the company said.
"We are pleased to see intermodal volumes for our Stacktrain operation up 7.3 percent with increases in all three lines of business, and for our rail brokerage operation up 1.7 percent compared to last year. However, there still is excess capacity in the market that has led to lower pricing and margins," said Mike Uremovich, Pacer's chairman and chief executive officer.