Pacer profit improves despite less military business

   Pacer International said it had a profit of $1.1 million in the fourth quarter ending Dec. 31, 2011, compared to a loss of $1.1 million in the same period a year earlier.
   Revenue in the quarter was $358 million, compared to $373 million in the fourth quarter of 2010. About $289.7 million of that came from the company’s intermodal business which was up 3 percent from the same period a year earlier. On the other hand, revenue from logistics was $68.3 million, down nearly 26 percent from the fourth quarter of 2010.
   For the full-year 2011, Pacer had a profit of $13.9 million, compared to just $900,000 in 2010. Revenue for 2011 was $1.48 billion, compared to $1.5 billion in 2010. About $1.08 billion of that was from the company’s intermodal business in 2011, 8.7 percent more than in 2010. Logistics revenue for 2011 was $303.5 million, off 28 percent from 2010. 
   The company said the drop in logistics revenues was “primarily due to the absence of the low-margin military shipments in our international operations in the 2011 period.”