Arkansas Best Corp. Enters Red
If a research analyst's projections are correct, then the rest of Arkansas Best's quarters in 2010 may look like the first one - negative.
That's even taking into account possible wage concessions of 15 percent from its work force that Judy McReynolds, president and CEO of Fort Smith-based Arkansas Best Corp., said Friday would have saved the company about $75 million in 2009.
"The wage concessions are highly important to Arkansas Best and also ensuring the livelihood of their employees," said Jack Waldo, Stephens Inc. research analyst. "If that comes through, it'll set the foundation for them to return to profitability. We expect that to happen sometime in 2011. They have an outside shot, but our model doesn't have them in the black until then."