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<SEC-DOCUMENT>0000798287-05-000006.txt : 20050209
<SEC-HEADER>0000798287-05-000006.hdr.sgml : 20050209
<ACCEPTANCE-DATETIME>20050209103704
ACCESSION NUMBER:		0000798287-05-000006
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20050208
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20050209
DATE AS OF CHANGE:		20050209

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:		05586990

	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>FORM 8-K FILED FEBRUARY 9, 2005
<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)  February 8, 2005
                                                         ----------------

                     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)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously  satisfy the filing obligation of the registrant under any of the
following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)

[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)

[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act(17 CFR 240.14d-2(b))

[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))



<PAGE>

Item 2.02  Results of Operations and Financial Condition.
- --------------------------------------------------------------------------------
On  February 8, 2005, P.A.M. Transportation Services, Inc. issued a news release
announcing  its  revenues  and  earnings  for  the fourth quarter and year ended
December  31,  2004.  A  live  conference  call will be held to discuss the news
release  and  other matters on Wednesday, February 9, 2005, at 2:00 p.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 capable of playing back
MP3  audio  files. A copy of the news release is attached hereto as Exhibit 99.1

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.

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.


Item 9.01  Financial Statements and Exhibits.
- --------------------------------------------------------------------------------
(c)   Exhibits. The following exhibits are furnished with this Report:

      99.1 News release issued by the Registrant on February 8, 2005

<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: February 8, 2005                   By: /s/ Robert W. Weaver
                                          --------------------------------------
                                          Robert W. Weaver
                                          President and Chief Executive Officer

<PAGE>

                                 EXHIBIT INDEX

Exhibit
Number           Exhibit Description
- -------          ---------------------------------------------------------------

 99.1            News release issued by the Registrant on February 8, 2005


<PAGE>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<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
                        AND YEAR ENDED DECEMBER 31, 2004

Tontitown,  Arkansas, February 8, 2005......P.A.M. Transportation Services, Inc.
(NASDAQ:  PTSI)  today  reported  net  income of $1,829,955 or diluted and basic
earnings  per  share  of  $.16  for  the  quarter  ended  December 31, 2004, and
$10,655,684  or  diluted and basic earnings per share of $.94 for the year ended
December  31, 2004. These results compare to net income of $1,662,080 or diluted
and  basic  earnings  per share of $.15, and $11,490,725 or diluted earnings per
share  of  $1.01  ($1.02  basic),  respectively,  for the quarter and year ended
December 31, 2003.

Operating  revenues  excluding  fuel  surcharges were $77,508,358 for the fourth
quarter  of 2004, a 4.4% increase compared to $74,235,660 for the fourth quarter
of  2003.  Operating  revenues  excluding  fuel  surcharges  for  the year ended
December  31,  2004  were $309,474,540, a 5.4% increase compared to $293,546,854
for the year ended December 31, 2003.

Robert  W.  Weaver,  President  of  the  Company, commented, "Earnings per share
reflect a year over year improvement for the fourth quarter but were not what we
had  expected.  There  is  however, evidence of continued positive change in our
operating  fundamentals  in  driver  recruiting  and retention, utilization, and
revenue per mile.

The  October driver pay increase and training incentive had a significant impact
on  both  retention  and recruitment. The student training program is running at
full  capacity.  The driver recruiting department produced a net increase of 130
drivers  in  the  fourth  quarter.  Driver  wage increased three cents per mile,
resulting  in  an  approximate $1,000,000 after tax increase in driver wages for
the  quarter.  Training  cost increased significantly and is expected to benefit
the Company in subsequent months.

Revenue per total mile climbed from $1.08 per mile in the fourth quarter of 2003
to  $1.18 per mile in fourth quarter of 2004. The increase in the fourth quarter
of  2004  as  compared  to the third quarter 2004 was approximately 3.5 cents. A
portion  of this increase was the result of efforts to pass along the driver pay
increase to the customer base and did not immediately coincide with the increase
in cost.

Fluctuations  in  fuel  prices and the addition of new trucks utilizing the less
efficient  Federally  mandated  EGR  engines  caused our overall fuel expense to
increase  by  10.6%  on a cost per mile basis. Fourth quarter 2003 cost per mile
was  19.66 cents compared to a fourth quarter 2004 cost of 21.75 cents per mile.

We  expect  that  our  continued  focus on driver recruiting, freight rates, and
utilization will contribute to improved earnings."

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, February 9, 2005 at 2:00 p.m. CDT
(Please note that since the call will begin promptly at 2:00 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 call
telephonically  by dialing (800) 310-1961. 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 an internet enabled PC capable of playing back MP3
audio  files.  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  including  reductions  in  rates
resulting  from  competitive  bidding;  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.
<PAGE>

<TABLE>
<CAPTION>
P.A.M. Transportation Services, Inc.
and Subsidiaries
Key Financial and Operating Statistics
(unaudited)
                                            Quarter ended                   Year ended
                                             December 31,                   December 31,
                                         2004           2003            2004           2003
                                         ----           ----            ----           ----
<S>                                 <C>            <C>             <C>            <C>
Revenue, before fuel surcharge       $77,508,358    $74,235,660     $309,474,540   $293,546,854
Fuel surcharge                         6,073,895      1,708,349       15,591,525      7,491,013
                                     -----------    -----------     ------------   ------------
                                      83,582,253     75,944,009      325,066,065    301,037,867
Operating expenses:
 Salaries, wages and benefits         31,310,630     29,982,569      119,408,631    119,350,229
 Operating supplies                   21,367,808     16,299,725       77,363,115     63,240,701
 Rent/purchased transportation         9,661,546      9,419,259       38,938,357     35,286,502
 Depreciation/amortization             7,482,216      7,407,085       30,016,355     26,601,345
 Operating taxes and licenses          3,823,854      3,819,610       15,488,051     14,709,700
 Insurance and claims                  4,078,880      3,279,678       15,819,670     13,499,513
 Communications and utilities            684,855        679,464        2,689,893      2,539,989
 Other                                 1,478,921      1,374,365        5,127,470      4,755,388
 Loss on disposition of equipment        331,263        326,426          915,102        368,239
                                     -----------    -----------     ------------   ------------
Total operating expenses              80,219,973     72,588,181      305,766,644    280,351,606

Operating income                       3,362,280      3,355,828       19,299,421     20,686,261

Other income/(expense):
 Interest expense                       (289,721)      (331,136)      (1,293,759)    (1,390,704)
                                     -----------    -----------     ------------   ------------
Total other income/(expense)            (289,721)      (331,136)      (1,293,759)    (1,390,704)
                                     -----------    -----------     ------------   ------------
Income before income taxes             3,072,559      3,024,692       18,005,662     19,295,557
Provision for income taxes             1,242,604      1,362,612        7,349,978      7,804,832
                                     -----------    -----------     ------------   ------------
Net income                           $ 1,829,955    $ 1,662,080     $ 10,655,684   $ 11,490,725
                                     ===========    ===========     ============   ============
Diluted earnings per share              $0.16          $0.15            $.94           $1.01
                                     ===========    ===========     ============   ============
Average shares o/s - Diluted          11,327,182     11,323,289       11,323,696     11,327,060
                                     ===========    ===========     ============   ============
</TABLE>

<TABLE>
<CAPTION>
                                            Quarter ended                   Year ended
                                             December 31,                   December 31,
Truckload Operations                     2004           2003            2004           2003
- --------------------                     ----           ----            ----           ----
<S>                                  <C>            <C>             <C>            <C>
Total miles                           56,936,914     59,665,602      235,894,314    235,482,479
Empty miles factor                          4.70%          4.64%            4.74%          4.55%
Revenue per total mile,
  before fuel surcharge                    $1.18          $1.08            $1.13          $1.08
Total loads                               75,794         79,958          315,633        312,475
Revenue per truck per work day              $648           $595             $591           $567
Average company trucks                     1,766          1,789            1,762          1,723
Average owner operator trucks                 86            104               93            118
</TABLE>

<TABLE>
<CAPTION>
                                            Quarter ended                   Year ended
                                             December 31,                   December 31,
Logistics Operations                     2004           2003            2004           2003
- --------------------                     ----           ----            ----           ----
<S>                                 <C>            <C>              <C>            <C>
Total revenue                        $10,252,275    $ 9,992,071      $41,966,665    $38,955,016
Operating income                        $408,606       $313,492       $1,817,197     $1,756,147
</TABLE>

<TABLE>
<CAPTION>
                                               As of
                                             December 31,
                                         2004           2003
                                         ----           ----
<S>                                <C>             <C>
Long-Term Debt to
 Book Capitalization                    12.11%         14.56%

Shareholders' Equity                $168,611,462    $156,874,166
</TABLE>


<PAGE>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
