1/27/2012 11:15:00 AM
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Tom Biery/Trans Pixs
Arkansas Best Corp. said Friday its fourth-quarter net income improved on stronger less-than-trucking unit performance.
Net income was $1.4 million, or 5 cents a share, compared with loss of $3.1 million, or 12 cents, a year ago. Revenue rose to $463.2 million, a 5.9% per-day increase.
Full-year net income was $6.2 million, or 23 cents per share, turning around a loss of $32.7 million, or $1.30, in 2010. Revenue rose to $1.9 billion, a per-day increase of 15.1% over 2010.
ABF Freight System, its LTL unit and largest business segment, had operating income of $1.3 million for the quarter and $3.6 million for the year, turning around operating losses of $7.8 million and $59.7 million, respectively, a year ago.
Arkansas Best Corp. is ranked No. 14 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
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