Pacer International reported a first-quarter profit but its intermodal and logistics revenue declined from a year ago.
Net income was $1.3 million or 4 cents a share, compared with a loss of $300,000, or 1 cent, a year ago. Revenue fell to $232.7 million from $345.9 million a year ago, the company said.
Intermodal revenue fell 36.7% to $180.4 million on a new cross-border agreement with Union Pacific where Pacer no longer passes along rail transportation costs to automotive intermediaries, Pacer said.
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