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- Revenue rises to $520.7 million from $440.9 million
- First quarter 2013 net loss of $13.4 million, or $0.52 per share
- Emerging, non-asset-based businesses continue growth trends and cash generation
- ABF labor contract negotiations continue and remain important to lowering ABF's cost structure
FORT SMITH, Ark., April 30, 2013 /PRNewswire/ -- Arkansas Best Corporation (Nasdaq: ABFS) today reported a first quarter 2013 net loss despite continued encouraging trends in its emerging businesses. Year-over-year revenue and tonnage growth at LTL carrier ABF Freight System, Inc., were offset by higher wage and benefit costs for employees represented by the International Brotherhood of Teamsters.
Arkansas Best's first quarter 2013 revenue was $520.7 million compared to revenue of $440.9 million in the first quarter of 2012. The first quarter net loss was $13.4 million, or $0.52 per share, compared to a first quarter 2012 net loss of $18.2 million, or $0.71 per share. Last year's first quarter results included the effects of an unusually low corporate tax benefit rate and unusually high workers' compensation claims costs. Combined, these items increased last year's first quarter net loss by $0.31 per share. ..................................
Arkansas Best Corporation Announces First Quarter 2013 Results - WSJ.com
- First quarter 2013 net loss of $13.4 million, or $0.52 per share
- Emerging, non-asset-based businesses continue growth trends and cash generation
- ABF labor contract negotiations continue and remain important to lowering ABF's cost structure
FORT SMITH, Ark., April 30, 2013 /PRNewswire/ -- Arkansas Best Corporation (Nasdaq: ABFS) today reported a first quarter 2013 net loss despite continued encouraging trends in its emerging businesses. Year-over-year revenue and tonnage growth at LTL carrier ABF Freight System, Inc., were offset by higher wage and benefit costs for employees represented by the International Brotherhood of Teamsters.
Arkansas Best's first quarter 2013 revenue was $520.7 million compared to revenue of $440.9 million in the first quarter of 2012. The first quarter net loss was $13.4 million, or $0.52 per share, compared to a first quarter 2012 net loss of $18.2 million, or $0.71 per share. Last year's first quarter results included the effects of an unusually low corporate tax benefit rate and unusually high workers' compensation claims costs. Combined, these items increased last year's first quarter net loss by $0.31 per share. ..................................
Arkansas Best Corporation Announces First Quarter 2013 Results - WSJ.com