FORT SMITH, Ark., Nov. 3, 2010 /PRNewswire-FirstCall/ -- Arkansas Best Corporation (Nasdaq: ABFS) today announced a third quarter 2010 net loss of $0.7 million, or $0.03 per share compared to a net loss of $5.6 million, or $0.23 per share in the third quarter of 2009.
"Continuing improvements in ABF's year-over-year and sequential tonnage trends contributed to better operating results and a reduction in our third quarter loss versus last year and last quarter," said Judy R. McReynolds, Arkansas Best President and Chief Executive Officer. "Throughout the third quarter, the monthly rate of increase in ABF's year-over-year tonnage improved. In addition, sequential monthly tonnage trends during the quarter were strong compared to recent history. Going forward, ABF must maintain freight growth combined with continued improvements in pricing in order to achieve acceptable levels of profitability."
Arkansas Best Corporation
Third Quarter 2010
* Revenue of $445.5 million, a per day increase of 11.7% from prior year quarter of $399.0 million
* Net loss of $0.03 per share compared to a net loss of $0.23 per share in the prior year period
ABF Freight System, Inc.®
Third Quarter 2010
* Revenue of $409.9 million compared to $369.8 million in third quarter of 2009, a per-day increase of 10.9%
* Total tonnage per day increase of 13.9% versus third quarter 2009 and a sequential increase of 6.9% versus second quarter 2010
* Total billed revenue per hundredweight of $23.38 compared to $23.98 in third quarter 2009, a decrease of 2.5%
* Operating loss of $2.6 million compared to an operating loss of $14.0 million in third quarter 2009
* Operating ratio of 100.6% compared to 103.8% in third quarter 2009..............
Arkansas Best Corporation Announces Improved Third Quarter 2010 Results -- FORT SMITH, Ark., Nov. 3, 2010 /PRNewswire-FirstCall/ --
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