Third-party logistics provider Pacer International posted market-beating quarterly results as cost controls boosted gross margins, and raised its full-year earnings outlook.

The company raised its full-year earnings forecast to $0.32-$0.37 a share from $0.25-$0.30 a share. It forecast full-year revenue of $1.50-$1.53 billion.

Analysts on average were expecting earnings of 29 cents a share, on revenue of $1.54 billion for the year, according to Thomson Reuters I/B/E/S.

For the second quarter, the company earned $4.2 million, or 12 cents a share, compared with $1.4 million, or 4 cents a share a year ago.

Revenue fell about 4 percent to $386.3 million. Gross margin rose by 1 percentage point to 12 percent as costs fell about 5 percent.

Analysts on average had expected earnings of 8 cents a share, on revenue of $384.5 million for the quarter. (Reuters)