PACER REPORTS RISE IN SALES, PROFIT
Pacer International, a freight transportation and logistics service provider based in Walnut Creek, Calif., reported second-quarter net income of $6.9 million, compared to $4.3 million for the year-earlier period.
Consolidated gross revenues jumped 51.2 percent to $294.9 million for the second quarter.
Second-quarter results comprise three months of both of Pacer’s logistics operations, which include the financial results of Conex Freight Systems — acquired by Pacer in January — and Pacer Stacktrain, the company’s North American stacktrain rail system for containerized freight. The second quarter of 1999 included only one month of Pacer’s logistics operations and a full quarter of Pacer Stacktrain operations.