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 9, 2002
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P.A.M. TRANSPORTATION SERVICES, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-15057 71-0633135
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification no.)
Highway 412 West, P.O. Box 188, Tontitown, Arkansas 72770
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(Address of principal executive offices) (Zip Code)
Registrants telephone number, including area code (479) 361-9111
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N/A
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(Former name or former address, if changed since last report)
ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT.
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On July 9, 2002, P.A.M. Transportation Services, Inc. (the "Company") dismissed
its independent auditors, Arthur Andersen LLP, and on the same date engaged
Deloitte & Touche LLP as its independent auditors for the fiscal year ending
December 31, 2002. Each of these actions was approved by the Audit Committee of
the Company.
Arthur Andersen LLP audited the financial statements for the Company for the
fiscal year ended December 31, 2001 and for the fiscal year ended December 31,
2000. Neither of the audit reports of Arthur Andersen LLP for those years
contained any adverse opinion or a disclaimer of opinion, or was qualified or
modified as to uncertainty, audit scope, or accounting principles.
In connection with the audits for the fiscal years ended December 31, 2001 and
2000 and for the unaudited interim period ended March 31, 2002, there were no
disagreements with Arthur Andersen LLP on any matter of accounting principle or
practice, financial statement disclosure, or audit procedure or scope which
disagreement, if not resolved to the satisfaction of Arthur Andersen LLP, would
have caused it to make reference to the subject matter of the disagreement in
its report.
Further, prior to the engagement of Deloitte & Touche LLP, neither the Company
nor any of its representatives sought the advice of Deloitte & Touche LLP
regarding the application of accounting principles to a specific completed or
contemplated transaction or the type of audit opinion that might be rendered on
the Company's financial statements, which advice was an important factor
considered by the Company in reaching a decision as to the accounting, auditing
or financial reporting issue.
In connection with the audit of the fiscal year ended December 31, 2001 and for
the unaudited interim period ended March 31, 2002, Arthur Andersen LLP did not
advise the Company that:
(i) internal controls necessary for the Company to develop reliable financial
statements did not exist;
(ii) information had come to its attention that led it to no longer be able to
rely on management's representations, or that made it unwilling to be associated
with the financial statements prepared by management;
(iii) there existed a need to expand significantly the scope of its audit, or
that information had come to its attention that if further investigated might
materially impact the fairness or reliability of either: a previously issued
audit report or the underlying financial statements, or the financial statements
issued or to be issued covering the fiscal period subsequent to the date of the
most recent financial statements covered by an audit report (including
information that might prevent it from rendering an unqualified audit report on
those financial statements).
The Company has requested that Arthur Andersen LLP furnish it with a letter
addressed to the Securities and Exchange Commission stating whether it agrees
with the above statements. The Company will make reasonable efforts to obtain
such letter and if obtained it will file such letter as soon as practicable as
an exhibit to an amendment to this Form 8-K.
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 11, 2002 By: /s/ Larry J. Goddard
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Larry J. Goddard
Chief Financial Officer