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<SEC-DOCUMENT>0000798287-03-000013.txt : 20030725
<SEC-HEADER>0000798287-03-000013.hdr.sgml : 20030725
<ACCEPTANCE-DATETIME>20030724181108
ACCESSION NUMBER:		0000798287-03-000013
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030724
ITEM INFORMATION:		Financial statements and exhibits
ITEM INFORMATION:		Regulation FD Disclosure
FILED AS OF DATE:		20030725

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:		03801786

	BUSINESS ADDRESS:	
		STREET 1:		297 WEST HENRI DE TONTI BLVD
		CITY:			TONTITOWN
		STATE:			AR
		ZIP:			72770
		BUSINESS PHONE:		4793619111

	MAIL ADDRESS:	
		STREET 1:		297 WEST HENRI DE TONTI BLVD
		CITY:			TONTITOWN
		STATE:			AR
		ZIP:			72770
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>doc1.txt
<DESCRIPTION>2ND QTR 2003 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)  July 24, 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.)


               297 West Henri De Tonti, 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  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 (July 24, 2003)


Item  9.  Information Being Furnished under Item 12.
- -------------------------------------------------------------------------------
The  following  information regarding the press release of P.A.M. Transportation
Services,  Inc.  (the  "Company")  announcing  its  second quarter financial and
operating  results  is  intended  to  be  furnished  under  Item 12, "Results of
Operations  and Financial Condition," but is instead being furnished pursuant to
Item  9 in accordance with the interim guidance contained in Securities Exchange
Commission Release No. 33-8216. The information contained in this report and the
exhibit  hereto  shall  not  be deemed "filed" for purposes of Section 18 of the
Securities  Exchange  Act  of  1934,  as  amended  (the  "Exchange  Act"),  or
incorporated  by  reference  in  any filing under the Securities Act of 1933, as
amended, or the Exchange Act, except as shall be expressly set forth by specific
reference in such a filing.

On  July  24,  2003,  P.A.M.  Transportation  Services, Inc.  issued  the  press
release  attached  hereto  as Exhibit 99.1 and will be holding a live conference
call  to  discuss  the press release and other matters on Friday, July 25, 2003,
at 10:00 a.m. CDT.  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.

The  information  herein  (including  the exhibit hereto)  and the statements by
Company  representatives during the conference call may contain "forward-looking
statements"  that are made pursuant to the safe-harbor provisions of the Private
Securities  Litigation  Reform  Act of 1995 and otherwise may be protected. Such
statements  are  made  based  on  the  current  beliefs  and expectations of the
Company's  management  and  are  subject to significant risks and uncertainties.
Actual  results may differ from those anticipated by forward-looking statements.
Please  refer to the Company's Annual Report on Form 10-K and other filings with
the  Securities  and  Exchange  Commission  for  information  concerning  risks,
uncertainties and other factors that may affect future results.
<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: July 24, 2003                      By: /s/ Robert  W.  Weaver
                                          -------------------------------------
                                          Robert W. Weaver
                                          President and Chief Executive Officer


<PAGE>


                              EXHIBIT INDEX

           99.1        Press release of the Registrant



<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 SECOND QUARTER
                              ENDED JUNE 30, 2003


Tontitown, Arkansas, July 24, 2003 P.A.M. Transportation Services, Inc. (NASDAQ:
PTSI)  today reported net income of $4,046,569 or diluted and basic earnings per
share of $.36 for the quarter ended June 30, 2003, and $6,864,138 or diluted and
basic  earnings  per  share  of $.61 for the six month period then ended.  These
results  compare  to  net income of $5,033,512 or diluted and basic earnings per
share  of  $.45,  and  $8,639,602  or  diluted  earnings per share of $.85 ($.86
basic),  respectively,  for  the  three  and the six months ended June 30, 2002.

Operating  revenues of $74,956,404 were reported for the second quarter of 2003,
a  5.8%  increase  compared  to  $70,840,825  for  the  second  quarter of 2002.
Operating  revenues for the six months ended June 30, 2003 were $145,095,314, an
8.2%  increase  compared to $134,154,304 for the six months ended June 30, 2002.

Robert  W.  Weaver,  President  of the Company, commented, "Revenue and earnings
were  good  but  not  up  to the desired expectations for the quarters compared.
Consideration  should be given to the tornado that struck Oklahoma City on May 8
which destroyed a portion of the Oklahoma General Motors facility which resulted
in a complete plant shutdown for the remainder of the quarter.  Although drivers
and  equipment were repositioned to other business, the disruption caused both a
decrease  in  utilization  from  dedicated to non-dedicated freight but also the
loss  of  a number of drivers that opted not to run a non-dedicated lane.  While
results  were  improved  from the first quarter of 2003, they are down when they
are  compared  to  our  second  quarter  2002 which was a record quarter 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 Friday, July 25, 2003 at 10:00 a.m. CDT (Please
note  that  since  the  call will begin promptly at 10:00 a.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  Second  Quarter  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.   The  Company  assumes  no  responsibility  to update any information
posted  on  its  Web  site.

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 June 30,       Six months ended June 30,
                                         2003           2002            2003           2002
                                         ----           ----            ----           ----
<S>                                  <C>            <C>             <C>            <C>
Operating revenues                   $74,956,404    $70,840,825     $145,095,314   $134,154,304
                                     -----------    -----------     ------------   ------------
Operating expenses:
 Salaries, wages and benefits         29,925,666     32,006,755       59,207,889     59,987,288
 Operating supplies                   12,711,627     13,065,313       26,871,034     25,078,477
 Rent/purchased transportation         9,562,452      2,879,238       16,589,576      5,673,992
 Depreciation/amortization             6,549,963      5,698,461       12,604,827     10,975,318
 Operating taxes and licenses          3,669,092      3,522,816        7,203,802      6,844,158
 Insurance and claims                  3,642,730      3,431,926        7,131,279      6,945,959
 Communications and utilities            635,027        643,173        1,236,301      1,259,265
 Other                                 1,195,926        820,057        2,209,219      1,601,695
 Loss on disposition of equipment          3,579         14,673           27,524         47,616
                                     -----------    -----------     ------------   ------------
Total operating expenses              67,896,062     62,082,412      133,081,451    118,413,768

Operating income                       7,060,342      8,758,413       12,013,863     15,740,536

Other income/(expense):
 Interest expense                       (426,622)      (369,227)        (684,196)    (1,341,200)
                                     -----------    -----------     ------------   ------------
Total other income/(expense)            (426,622)      (369,227)        (684,196)    (1,341,200)
                                     -----------    -----------     ------------   ------------
Income before income taxes             6,633,720      8,389,186       11,329,667     14,399,336
Provision for income taxes             2,587,151      3,355,674        4,465,529      5,759,734
                                     -----------    -----------     ------------   ------------
Net income                           $ 4,046,569    $ 5,033,512     $  6,864,138   $  8,639,602
                                     ===========    ===========     ============   ============
Diluted earnings per share              $0.36          $0.45            $0.61          $0.85
                                     ===========    ===========     ============   ============
Average shares o/s - Diluted          11,332,383     11,237,739       11,335,673     10,112,415
                                     ===========    ===========     ============   ============
</TABLE>

<TABLE>
<CAPTION>
                                        Quarter ended June 30,       Six months ended June 30,
Truckload Operations                     2003           2002            2003           2002
- --------------------                     ----           ----            ----           ----
<S>                                   <C>            <C>             <C>            <C>
Total miles                           58,902,908     61,365,501      116,125,705    115,982,967
Empty miles factor                          5.00%          3.75%            4.47%          4.33%
Revenue per total mile                     $1.09          $1.11            $1.09          $1.10
Total loads                               77,195         81,875          154,571        156,047
Revenue per truck per work day              $537           $599             $550           $589
Average company trucks                     1,740          1,623            1,685          1,584
Average owner operator trucks                124            145              127            141

</TABLE>

<TABLE>
<CAPTION>
                                        Quarter ended June 30,       Six months ended June 30,
Logistics Operations                     2003           2002            2003           2002
- --------------------                     ----           ----            ----           ----
<S>                                  <C>            <C>              <C>            <C>
Total revenue                        $10,917,815    $ 3,038,283      $18,679,052    $ 6,068,878
Operating income                        $726,259        $45,384       $1,062,166        $97,934

</TABLE>


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