PACER INTERNATIONAL DOUBLES 2ND-QUARTER INCOME

PACER INTERNATIONAL DOUBLES 2ND-QUARTER INCOME    Pacer International Inc., the non-asset-based North American logistics and freight transport provider, said second-quarter net income more than doubled, to $4.1 million, from $2.4 million.
   Net revenues increased 4.5 percent to $84.4 million and operating income rose 25.4 percent to $17.8 million.
   'Our results can be attributed to strong performance of the Wholesale segment, the benefits of the consolidation of the Retail segment, as well as some key customer wins,' said Don Orris, chairman and chief executive officer of Pacer International. 'Projected cost savings in both the Retail and Wholesale segments have started to materialize.'
   Net revenues for Pacer's Wholesale segment, which provides double-stack rail transport services, increased 18.3 percent to $51.1 million. The improved results were due to increased business from the Retail segment, and increased overall domestic volumes.
   The Retail segment, which provides logistics and supply-chain management services to manufacturers and retailers, saw net revenues decrease $4.3 million, as a result of decreased automotive business in the truck brokerage unit, and reduced volumes in both freight consolidation and handling, and in international.
   For the first six months of 2002, net income increased to $8.8 million from $2.0 million in the same period in 2001. Net revenues rose 3.6 percent to $167.6 million, while operating income increased 30.9 percent to $33.5 million.
   Pacer International is based in Concord, Calif.