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I respect all Ernie's picks immensly, but it was time to get out of this one. It has gone no where for a long time, and they just missed another earnings report (by 4 cents). The company just bought back some stock and this may come back, but I have a feeling that Ernie will be selling this one come Dec. 31. I agree with Ernie that you need to hang in with these stock but this is a good example of one where it is time to let go.
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earnings release
coming this afternoon. could this finally be the day PTSI turns it around and beats guidance for a quarter? will $$MM be rewarded for sticking around to see it happen? stay tuned... -
$$$Mr Market$$$ rocks!!! If he owns it, it WILL eventually turn around.Originally posted by jiesen
I can't wait until we finally have a Mr Market convention in Atlantic City, so I can meet the huge one and the rest of the great members we have here. Not to mention the gambling and beer!Comment
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Earnings are out (and they're good!)
revenue is up 3% y/y and eps is up 44% to 0.26 for Q1 2005.
Market cap=180M
Book value=160M
2005 EPS > $1 and rising because...
0.6M share stock buyback in progress
if they just keep earning what they're earning, BV will pass current market cap in less than 2 years. the market HAS to see the value of PTSI at some point.
http://biz.yahoo.com/prnews/050426/datu108.html?.v=1
Press Release
Source: P.A.M. Transportation Services, Inc.
P.A.M. Transportation Services, Inc. Announces Results for the First Quarter Ended March 31, 2005
Tuesday April 26, 5:06 pm ET
TONTITOWN, Ark., April 26 /PRNewswire-FirstCall/ -- P.A.M. Transportation Services, Inc. (Nasdaq: PTSI - News) today reported net income of $2,903,387 or diluted and basic earnings per share of $.26 for the quarter ended March 31, 2005 compared to net income of $2,030,817 or diluted and basic earnings per share of $.18 for the quarter ended March 31, 2004. Operating revenues excluding fuel surcharges were $80,108,475 for the first quarter of 2005, a 3.1% increase compared to $77,673,436 for the first quarter of 2004.
Robert W. Weaver, President of the Company, commented, "Our continued efforts over the last few quarters focusing on rates, cost containment and operational efficiencies are producing more positive results. The results of our first quarter ended March 31, 2005 show a 43% increase in net income and a 44% increase in earnings per share versus our first quarter ended March 31, 2004. These improved results are indicative that the changes we have focused our efforts towards over the last several quarters are beginning to show benefits and were the right moves for the company."
P.A.M. Transportation Services, Inc. will be holding a live conference call with certain financial analysts to discuss the earnings release, the results of operations, and other matters on Wednesday, April 27, 2005 at 1:00 p.m. CDT. (Please note that since the call will begin promptly at 1:00 p.m., you will need to join at least ten minutes prior to that time.)
The public will be able to listen and participate in the conference telephonically by dialing (800) 946-0706. Please ask to be joined to the P.A.M. Transportation Services First Quarter 2005 Earnings Release Conference call. An audio replay of the conference call will be posted on the Company's web site one day after the meeting (http://www.pamt.com/investing/audio.html ). In order to listen to the replay, you will need a PC that is internet enabled and capable of playing back MP3 audio files. The Company assumes no responsibility to update any information posted on its Web site.
The conference may contain forward-looking statements made by the Company that involve risks, assumptions and uncertainties that are difficult to predict. Investors are directed to the information contained in the Company's Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission, for a discussion of the risks that may affect the Company's operating results. Actual results may differ. P.A.M. Transportation Services, Inc. is a leading truckload dry van carrier transporting general commodities throughout the continental United States, as well as in the Canadian provinces of Ontario and Quebec. The Company also provides transportation services in Mexico through its gateways in Laredo and El Paso, Texas under agreements with Mexican carriers.Comment
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