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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000798287-03-000002.txt : 20030314
<SEC-HEADER>0000798287-03-000002.hdr.sgml : 20030314
<ACCEPTANCE-DATETIME>20030314104026
ACCESSION NUMBER:		0000798287-03-000002
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030313
ITEM INFORMATION:		Financial statements and exhibits
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20030314

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAM TRANSPORTATION SERVICES INC
		CENTRAL INDEX KEY:			0000798287
		STANDARD INDUSTRIAL CLASSIFICATION:	TRUCKING (NO LOCAL) [4213]
		IRS NUMBER:				710633135
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-15057
		FILM NUMBER:		03603298

	BUSINESS ADDRESS:	
		STREET 1:		P O BOX 188
		CITY:			TONTITOWN
		STATE:			AR
		ZIP:			72770
		BUSINESS PHONE:		5013619111

	MAIL ADDRESS:	
		STREET 1:		P O BOX 188
		CITY:			TONTITOWN
		STATE:			AR
		ZIP:			72770
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>doc1.txt
<DESCRIPTION>4TH QTR 2002 EARNINGS RELEASE
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15 (d) OF THE
                        SECURITIES EXCHANGE ACT OF 1934

       Date of Report (Date of earliest event reported)  March 13, 2003
                                                        ----------------

                     P.A.M. TRANSPORTATION SERVICES, INC.
            ------------------------------------------------------
            (Exact name of registrant as specified in its charter)


          Delaware                      0-15057                 71-0633135
- ----------------------------         -------------         -------------------
(State or other jurisdiction          (Commission            (I.R.S. Employer
 of incorporation)                    File Number)          Identification no.)


                  Highway 412 West, Tontitown, Arkansas 72770
                -------------------------------------------------
               (Address of principal executive offices) (Zip Code)

        Registrants telephone number, including area code (479) 361-9111
                                                          --------------


                                       N/A
          -------------------------------------------------------------
          (Former name or former address, if changed since last report)



<PAGE>


Item  9.  Regulation FD Disclosure.
- -------------------------------------------------------------------------------
On March 13, 2003, P.A.M. Transportation Services, Inc. issued the following
press release attached hereto as Exhibit 99.1.


Item  7.  Financial Statements and Exhibits.
- -------------------------------------------------------------------------------

         (a)   Financial Statements:  None
         (b)   Pro Forma Financial Statements:  None
         (c)   Exhibits. The following exhibits are furnished with this Report:

               99.1 Press Release of the Registrant (March 13, 2003)

<PAGE>

                                   SIGNATURES


Pursuant  to  the  requirements  of  the  Securities  Exchange  Act of 1934, the
Registrant has duly caused this Current report on Form 8-K to  be  signed on its
behalf by the undersigned hereunto duly authorized.


                                          P.A.M. TRANSPORTATION  SERVICES,  INC.



Dated: March 13, 2003                     By: /s/ Robert  W.  Weaver
                                          -------------------------------------
                                          Robert W. Weaver
                                          President and Chief Executive Officer


<PAGE>


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>doc2.txt
<TEXT>

Exhibit 99.1

FROM:  P.A.M. TRANSPORTATION SERVICES, INC.
P.O. Box 188
Tontitown, AR 72770
Robert W. Weaver
(479) 361-9111

                      P.A.M. TRANSPORTATION SERVICES, INC.
                    ANNOUNCES RESULTS FOR THE FOURTH QUARTER
                             ENDED DECEMBER 31, 2002

Tontitown,  Arkansas,  March  13,  2003  P.A.M.  Transportation  Services,  Inc.
(NASDAQ:  PTSI) today reported net income of $16,593,007 or diluted earnings per
share  of  $1.55  ($1.56 basic) for the year ended December 31, 2002, versus net
income $10,071,155 or diluted and basic earnings per share of $1.18 for the year
ended  December  31,  2001.  Revenues were $264,011,924 in 2002 compared to 2001
revenues  of  $225,793,731.

The Company reported fourth quarter 2002 net income of $3,995,940 or diluted and
basic  earnings  per share of $.35 compared to fourth quarter 2001 net income of
$2,545,533  or  diluted  and basic earnings per share of $.30.  Revenues for the
fourth  quarter  of  2002  were  $64,823,623 compared to $56,263,734 in the same
quarter  of  2001.

Operating  income  for the year ended December 31, 2002 was $29,640,070, a 39.4%
increase  over  prior year operating income of $21,268,980.  Fourth quarter 2002
operating  income  increased 30.1% to $6,926,689 as compared to operating income
of  $5,293,123  in  the  same  period  in  2001.

The  Company's  operating  ratios for the twelve and three months ended December
31,  2002  were 88.8% and 89.3%, respectively, as compared to 90.6% for both the
twelve  and  three  month  periods  ended  December  31,  2001.

Robert  W.  Weaver, President of the Company, commented, "I am pleased with both
the Company's performance for the fourth quarter and for the entire year.  We've
enjoyed  a  number  of successes this year as reflected by the results presented
above.  While  its  been  a  difficult year for the industry, our top and bottom
line  growth  is  attributable  to  the  dedication  and  hard work shown by our
employees.  We  are  fortunate  to  have  that  kind  of  staff  to  meet  the
opportunities  and  challenges  in  2003."

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 Friday, March 14, 2003 at 1:00 p.m. CST (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) 915-4836.  Please ask to be joined to the P.A.M.
Transportation  Services Fourth Quarter and Year End Earnings Release Conference
call.  An  audio  replay  of the conference call will be posted on the company's
web  site  after  the  meeting (www.pamt.com/investing/audio.html).  In order to
listen  to the replay, you will need a PC that is internet enabled and have Real
Player  software  and an internet browser such as Netscape or Microsoft Internet
Explorer.

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.

Certain  information  included  in  this  document  contains  or  may  contain
"forward-looking  statements"  within  the  meaning  of  the  Private Securities
Litigation  Reform  Act  of 1995.  Such forward-looking statements may relate to
expected  future  financial  and  operating  results  or  events,  and  are thus
prospective.  Such  forward-looking  statements  are  subject  to  risks,
uncertainties  and  other  factors  which  could  cause actual results to differ
materially  from  future  results  expressed  or implied by such forward-looking
statements.  Potential  risks and uncertainties include, but are not limited to,
excess  capacity  in  the trucking   industry; surplus inventories; recessionary
economic  cycles and downturns in customers' business cycles; increases or rapid
fluctuations  in  fuel  prices,  interest  rates, fuel taxes, tolls, license and
registration  fees;  the  resale  value  of the Company's used equipment and the
price  of  new  equipment;  increases  in  compensation  for  and  difficulty in
attracting  and  retaining  qualified  drivers and owner-operators; increases in
insurance  premiums and deductible amounts relating to accident, cargo, workers'
compensation, health, and other claims; unanticipated increases in the number or
amount  of  claims  for  which  the  Company  is self insured;  inability of the
Company  to  continue  to  secure  acceptable  financing  arrangements; seasonal
factors  such  as  harsh  weather  conditions  that  increase  operating  costs;
competition  from  trucking,  rail,  and  intermodal competitors; the ability to
identify  acceptable  acquisition  candidates,  consummate  acquisitions,  and
integrate  acquired operations; a significant reduction in or termination of the
Company's  trucking service by a key customer; and other factors, including risk
factors,  referred  to from time to time in filings made by the Company with the
Securities  and  Exchange  Commission.  The  Company undertakes no obligation to
update  or  clarify  forward-looking  statements,  whether  as  a  result of new
information,  future  events  or  otherwise.

<TABLE>
<CAPTION>
P.A.M. Transportation Services, Inc.
and Subsidiaries
Key Financial and Operating Statistics
(unaudited)

                                     Quarter ended December 31,        Year ended December 31,
                                         2002           2001            2002           2001
                                         ----           ----            ----           ----
<S>                                  <C>            <C>             <C>            <C>
Operating revenues                   $64,823,623    $56,263,734     $264,011,924   $225,793,731
                                     -----------    -----------     ------------   ------------
Operating  expenses:
 Salaries, wages and benefits         27,765,769     25,394,196      115,431,917    100,358,926
 Operating supplies                   12,644,176      9,971,369       51,160,998     43,288,714
 Rent/ purchased transportation        2,195,649      2,092,607        9,780,132     10,526,094
 Depreciation/amortization             7,039,036      5,311,105       24,715,074     20,299,905
 Operating taxes and licenses          3,266,448      3,057,046       13,466,645     11,935,520
 Insurance and claims                  3,281,478      2,713,604       12,786,406     10,202,383
 Communications and utilities            580,196        649,466        2,283,738      2,319,843
 Other                                 1,092,364      1,086,176        4,619,562      4,707,109
 Loss on disposition of equipment         31,818        695,042          127,382        886,257
                                     -----------    -----------     ------------   ------------
Total operating expenses              57,896,934     50,970,611      234,371,854    204,524,751

Operating income                       6,926,689      5,293,123       29,640,070     21,268,980

Other  income/(expense):
 Interest expense                       (266,585)    (1,022,094)      (1,984,854)    (4,477,091)
                                     -----------    -----------     ------------   ------------
Total other income/(expense)            (266,585)    (1,022,094)      (1,984,854)    (4,477,091)
                                     -----------    -----------     ------------   ------------
Income before income taxes             6,660,104      4,271,029       27,655,216     16,791,889
Provision for income taxes             2,664,164      1,725,496       11,062,209      6,720,734
                                     -----------    -----------     ------------   ------------
Net income                           $ 3,995,940    $ 2,545,533     $ 16,593,007   $ 10,071,155
                                     ===========    ===========     ============   ============
Diluted earnings per share              $0.35          $0.30            $1.55          $1.18
                                     ===========    ===========     ============   ============
Average shares o/s - Diluted          11,307,750      8,617,031       10,714,677      8,549,915
                                     ===========    ===========     ============   ============
</TABLE>

<TABLE>
<CAPTION>
                                     Quarter ended December 31,        Year ended December 31,
All Operations                           2002           2001            2002           2001
- --------------                           ----           ----            ----           ----
<S>                                   <C>            <C>             <C>            <C>
Total miles                           58,425,393     50,954,605      238,256,383    204,302,831
Empty miles factor                         3.55%          6.40%            4.00%          5.52%
Revenue per loaded mile                    $1.15          $1.18            $1.15          $1.17
Total loads                               76,844         67,489          315,390        265,644
Revenue per truck per work day              $633           $587             $621           $591
Average company trucks                     1,636          1,498            1,605          1,427
Average owner operator trucks                128            124              137            126

</TABLE>


<TABLE>
<CAPTION>
                                     Quarter ended December 31,        Year ended December 31,
Brokerage Operations                     2002           2001            2002           2001
- --------------------                     ----           ----            ----           ----
<S>                                    <C>            <C>             <C>            <C>
Total revenue                          2,301,186      2,297,400       10,472,055     11,352,564
Revenue per loaded mile                    $1.08          $1.14            $1.09          $1.14

</TABLE>

<TABLE>
<CAPTION>
                                      Year ended December 31,
Selected Balance Sheet Data              2002           2001
- ---------------------------              ----           ----
<S>                                 <C>             <C>
Cash and cash equivalents           $ 30,765,901    $   895,944
Total debt                          $ 21,191,404    $64,715,021
Total shareholders equity           $144,451,805    $72,596,800

</TABLE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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