Arkansas Best has profitable fourth quarter
This article was published January 27, 2012 at 6:25 a.m.
LITTLE ROCK — Arkansas Best Corporation said Friday that it made a $1.4 million profit in its fourth quarter after posting a loss in the same period in 2010.
The Fort Smith-based trucking company said it had earnings of $0.05 per share in the fourth quarter compared to a loss of $0.12 a share a year earlier. For the full year, the company had earnings of $0.23 per share compared to a loss of $1.30 per share in 2010.
Full-year profits were reported at $6.1 million, up from a $32 million loss in 2010.
Officials say the 2011 figures reflect charges for a supplemental pension settlement of $0.03 per share.
"Arkansas Best's profitable results for the fourth quarter and full year reflect an improving business environment as characterized by revenue growth in each of our operating segments," Arkansas Best President and Chief Executive Officer Judy R. McReynolds said in a news release. "ABF's full-year results represent an important step toward achieving our goal of returning to historical profitability levels."
According to the company's earnings report, Arkansas Best had revenue of $463.2 million in the fourth quarter of 2011, up from $441.1 million a year earlier. Net income, meanwhile, was $2.1 million compared to a $3.1 million loss in the fourth quarter of 2010.
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