LITTLE ROCK — P.A.M. $1.7 million in red for 3rd quarter
P.A.M. Transportation Services Inc. said late Thursday that the settlement of a 2004 workers’ compensation claim and a revenue gain from the year-ago period affected the third-quarter performance of the Tontitown carrier, which reported a net loss.
“These two items affected the comparability of the quarters by approximately $1.5 million,” Daniel Cushman, P.A.M.’s president, said in a news release.
After the markets closed, the trucking company reported a net loss of $1.7 million, or 19 cents per share, for the quarter that ended Sept. 30, compared with a net loss of $490,727, or 5 cents a share, for the third quarter of 2010.
P.A.M. reported revenue of $88.94 million, an increase of 2.6 percent compared with $86.71 million in the third quarter of 2010.
Shares of the holding company rose 41 cents, or 3.98 percent, Thursday, to close at $10.71 per share on the Nasdaq.
Southwestern Energy posts 9% profit rise
Southwestern Energy Co. on Thursday credited its increased production in the Fayetteville Shale in Arkansas and the Marcellus Shale in the Northeast as key factors in a third quarter 9 percent increase in net income, which was $175.2 million, compared with $160.7 million a year earlier. Earnings per share were 50 cents, compared with 46 cents a year earlier.
Natural-gas production was 128.9 billion cubic feet, compared with 105 billion cubic feet in third quarter 2010.
“As a result of our Fayetteville and Marcellus projects, our production guidance has again been increased to approximately 496-500 [billion cubic feet] for the full year of 2011, which represents approximately a 23 [percent] increase over 2010 levels,” said Steve Mueller, president and chief executive officer of Houston-based Southwestern, the largest operator in the Fayetteville Shale in northern Arkansas.
All 16 stocks gain
in Arkansas Index
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, jumped 9.10 to 219.69 Thursday, its highest close since 221.62 on July 25.
“U.S. stocks surged higher on Thursday after the details were revealed of a long-awaited agreement by European leaders to tackle the European debt crisis,” said John Blackwell, senior vice president and managing director of equity trading at Stephens Inc. in Little Rock. “The Arkansas Index shot higher as all 16 stocks advanced.”
The index was developed by Bloomberg News and the Arkansas Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business, Pages 27 on 10/28/2011