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FROM : P.A.M. TRANSPORTATION SERVICES , INC . P.O. BOX 188 Tontitown , AR 72770 Allen W. West ( 479 ) 361-9111 P.A.M. TRANSPORTATION SERVICES , INC . Exhibit 99.1 REPORTS RECORD RESULTS , ANNOUNCES STOCK SPLIT Tontitown , Arkansas , July 14 , 2021 ...... P.A.M. Transportation Services , Inc. ( NASDAQ : PTSI ) today reported net income of $ 15.3 million , or diluted earnings per share of $ 2.66 , for the quarter ended June 30 , 2021 , and net income of $ 27.3 million , or diluted earnings per share of $ 4.74 , for the six - month period then ended . These results compare to net loss of $ 0.8 million , or diluted loss per share of $ 0.14 , and net loss of $ 2.1 million , or diluted loss per share of $ 0.37 , respectively , for the three and six months ended June 30 , 2020 . Operating revenues increased 73.4 % to $ 161.3 million for the second quarter of 2021 compared to $ 93.0 million for the second quarter of 2020. For the six months ended June 30 , 2021 , operating revenues increased 39.6 % to $ 310.1 million compared to $ 222.1 million during the six months ended June 30 , 2020 . On July 13 , 2021 , the Company's Board of Directors declared a 2 - for - 1 forward stock split of its common stock in the form of a 100 % stock dividend , payable on August 16 , 2021 , to stockholders of record on July 30 , 2021. Under the terms of the stock split , the Company's stockholders will receive a dividend of one share for every share held on the record date . The dividend will be paid in authorized but unissued shares of common stock of the Company . The additional shares will be distributed by the Company's transfer agent , Computershare , and the per share price of the Company's common stock will adjust accordingly on The Nasdaq Stock Market . The Company expects trading will begin on a split - adjusted basis on August 17 , 2021. The Company currently has approximately 5.7 million shares of common stock outstanding . After the stock split , the number of shares of common stock outstanding will increase to approximately 11.4 million shares . Joe Vitiritto , President of the Company , commented , " It was only one year ago that we were scrambling to find replacement freight as many of our largest customers reacted to the pandemic by completely suspending their operations . Now , just one year later and with a redesigned network , we are pleased to report record revenue and record operating income for the quarter . I have been really impressed with the progress our team has achieved in such a short timeframe , and I want to thank our driving associates for the work they put in every single day . We couldn't achieve any of this without their efforts . While we believe that there remains plenty of opportunity to improve on our recent operating results and we expect our team to continue to exceed expectations , it is satisfying to see such marked improvement so quickly . " We are also pleased that the Board of Directors has approved a stock split , which demonstrates their continued confidence in our long - term potential . With this split , we will be able to increase the availability of our stock and enhance liquidity within the marketplace , allowing both current and new investors to share in our continued success . " About P.A.M. Transportation Services , Inc. 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 .