Arkansas Best Corporation Announces Improved Fourth Quarter and Full Year 2010 Results

February 3, 2011: Arkansas Best Corporation today announced a fourth quarter 2010 net loss of $3.1 million, or $0.12 per share, compared to a fourth quarter 2009 net loss of $88.7 million, or $3.54 per share. The fourth quarter 2009 results included charges for goodwill impairment of $2.55 per share and supplemental pension settlements of $0.11 per share. Excluding those charges, Arkansas Best had a fourth quarter 2009 net loss of $22.1 million, or $0.88 per share.

"Arkansas Best's fourth quarter and full year results compared to last year reflect improvement associated with increased business levels and an LTL pricing environment that began improving in the fall," said Judy R. McReynolds, Arkansas Best President and Chief Executive Officer. "The progress we have made this year is evidence of our team's diligence in maintaining our core principles of selling value and delivering it safely and efficiently. Our steady management and consistent actions have put us in a better position for the future. As we move into a new year we must work hard to achieve our goal of returning to healthy profitability levels through consistent business growth and improved account pricing."

Click here to read more at Yahoo! Finance


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