P.A.M. Transportation Services Inc.'s second-quarter net income was 20% lower than it reported during the same period last year.

The company reported net income of $4,046,569 for the quarter, and had a net income of $5,033,512 the same quarter of 2002.

However, P.A.M.'s operating revenues of $74,956,404 for the second quarter were a 5.8% increase over those reported in the second quarter of 2002. Operating revenues for the six months ended June 30 were $145,095,314, an 8.2% increase over the same period last year.