Intermodal provider Pacer International eked out a $900,000 net profit in 2010, compared with a $174.8 million loss in 2009. Revenue dropped 4.5 percent to $1.5 billion in 2010.
The company expects revenue to grow 6 to 8 percent in 2011, as intermodal rail draws more freight in a stronger economy.
For the fourth quarter, Dublin, Ohio-based Pacer reported a $1.1 million loss compared with a $9.3 million net profit in the last quarter of 2009.
The company's revenue dropped 11.2 percent year-over-year to $373.3 million.
2010 was a year of transition and restructuring for Pacer, as it replaced a significant portion of its east-west big box business from intermodal marketing companies whose agreements ended in the fall of 2009.
Those former customers bought train space under an agreement Pacer had with Union Pacific Railroad
The company recently replaced its credit financing arrangements with a new deal that cuts interest rates and fees and shrinks the number of participating lenders.
Last month Pacer named Daniel L. Gardner CEO of its international unit. The company plans to expand its freight forwarding business in 2011.
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