Arkansas Best Corporation Announces Third Quarter 2006 Results
FORT SMITH, Ark., Oct. 23 /PRNewswire-FirstCall/ -- Arkansas Best
Corporation (Nasdaq: ABFS) today announced third quarter 2006 revenue of
$507.3 million, an 11.2% per-day increase versus $463.3 million from
continuing operations in the third quarter of 2005. Third quarter 2006
income from continuing operations was $1.24 per diluted share compared to
$1.58 per diluted share in the third quarter of 2005. Excluding a
previously disclosed after-tax settlement accounting charge of $0.02 per
share, earnings were $1.26 per diluted share. This was an improvement of
$0.06 per share over third quarter 2005 earnings from continuing operations
of $1.20 per diluted share, after adjusting for a $0.38 per share gain on
the sale of properties to G.I. Trucking Company.
"ABF's third quarter operating ratio, excluding the settlement
accounting charge, was in the eighties for only the fourth time in the last
thirty-five years," said Robert A. Davidson, Arkansas Best President and
Chief Executive Officer. "As a result, for the past twelve-month period,
Arkansas Best's After-Tax Return on Capital Employed was 17% and our
company's balance sheet continues to be one of the strongest in the
transportation industry."
