TONTITOWN, Ark., July 16, 2010 (GLOBE NEWSWIRE) -- PAM Transportation Services, Inc. (Nasdaq:PTSI) announced today that Larry J. Goddard was elected to the position of Executive Vice President for the Company. Mr. Goddard has served as Vice President-Finance, Chief Financial Officer, Secretary and Treasurer since 1991, and in various other capacities with the Company since he was hired in 1987.
Lance K. Stewart will assume the position of Vice President-Finance, Chief Financial Officer, Secretary and Treasurer. Mr. Stewart has served in the capacity of Vice President of Accounting and Controller since 2002 and in various other capacities with the Company since 1989.
Dan Cushman, President and CEO, commented, "PAM Transport is pleased to announce the promotions of Larry Goddard and Lance Stewart.
"Larry Goddard is being promoted to Executive Vice President. Larry has done a great job as CFO. In the last year, he has continued our growth in all financial areas, but most significantly, in the areas of Pricing and Yield Management. Larry has clearly established himself as a leader within our organization who is most willing and capable of assisting me in giving direction and executing our strategic visions.
"Lance Stewart is being promoted to CFO. Lance has very capably positioned us to allow Larry Goddard to focus his attention to organizational issues aside from just those in the financial areas. Lance has been extremely important to PAM Transport's financial team for years. He has demonstrated over the past year his ability to perform all that is expected of a CFO, contributing greatly during the process of consolidating operations for our various companies in to one operating company, PAM Transport, with specific focus on transitioning the financial reporting systems to support the changes.
"Both Larry and Lance have been with PAM Transport for over 20 years. They both bring an understanding of our company's history, industry knowledge and a passion to help PAM Transport continue our positive momentum."
Addition of PAM Transportation Services, Inc. to the Russell 3000® Index
PAM Transportation Services, Inc. was added to the Russell 3000 ®Index on June 25, 2010. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in assets are currently benchmarked to them. Membership in the Russell 3000 ® Index also means automatic inclusion in both the Russell 2000® and appropriate growth and value style indexes. We are proud of the addition of P.A.M. Transportation Services, Inc. to the Russell 3000® index and welcome the additional exposure this membership brings the Company.
PAM 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.
The PAM Transportation Services, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5148