Revenues were up 3.6% or $16.7 million in the most recent quarter, but income from operations declined $3.7 million when compared to the 2006 quarter. “We are pleased to see intermodal volumes of our Stacktrain operation up 7.3% with increases in all three lines of business, and for our rail brokerage operation up 1.7% compared to last year,” said Mike Uremovich, chairman and CEO. “However, there still is excess capacity in the market that has led to lower pricing and margins,” he continued.
Year to date, Pacer reported six-month revenues increased 1.3% to $940 million and income from operations declined $13.7 million to $35.9 million.The company also announced some organizational changes it said are designed to support the company’s efforts to streamline operations, strengthen its core intermodal business, and increase product integration across business units.
In the realignment, Pacer has appointed Dan Beers chief commercial officer for Pacer’s Intermodal Segment, Jean Krafft was named vice president of sales at Pacer Global Logistics, Derrel Chappell was promoted to vice president Domestic, Automotive and Mexico sales at Pacer Stacktrain, Larry Savage was named president of Pacer’s Highway and Supply Chain Services Group, Jim Ward was named chief information officer for Pacer International, and David Hoppens was promoted to vice president of corporate marketing for Pacer International.