Pacer Q4 revenue down

Pacer International, a freight transportation and logistics services provider, has reported revenue of $358m for the fourth quarter ended 31 December 2011, compared to $373.3m for the same period in 2010.

For the fourth quarter of 2011, the company posted a net income of $1m, compared to a net loss of $1m, for the comparable period in 2010.

Total operating expenses for the quarter were $353.8m, compared to $372.3m, while selling, general and administrative expenses were $35m, compared to $39.5m for the same period prior year.

The company is reconfirming its 2012 guidance and expects revenues to range between $1.5bn and $1.525bn and earnings per share to range between $0.35 and $0.41.

Pacer CFO John Hafferty said the company is pleased with its fourth consecutive quarter of more than doubling its earnings year over year.

"Our company continues to drive double digit earnings growth despite the turbulent global economic environment," Hafferty said.

"We continue to generate positive cash flow, as our cash flow from operations has increased more than $17m during 2011.

"We now look for opportunities to reinvest our cash back into our business to drive future earnings growth."