Third party logistics provider Pacer International said its net income increased to $5.1 million in the second quarter on revenues of $84.4 million, up from net income of $2.4 million on revenues of $80.8 million in the same period last year.
Concord, CA-based Pacer added that revenue from double-stack rail services increased by 18.3% to $51.1 million, while revenues from its logistics and supply-chain management services decreased by $4.3 million.
The falloff was largely due to decreased automotive shipments by its truck brokerage unit and reduced volumes in both freight consolidation and handling, Pacer said.
For the first six months of 2002, net income jumped to $8.8 million on revenues of $167.6 million, compared to net income of $2 million on revenues of $161.7 million in the same period last year.
