2/3/2011 10:45:00 AM
Arkansas Best Corp. said Thursday its fourth-quarter loss was $3.1 million, or 12 cents a share, compared with a loss of $88.7 million, or $3.54 per share, a year earlier.
Revenue rose 18.7% to $441.1 million, the company said in a statement.
For the full year, Arkansas Best lost $32.7 million, or $1.30 per share, compared with a loss of $127.5 million, or $2.46, in 2009.
ABF Freight System, its less-than-truckload and largest operating unit, reported a fourth-quarter operating loss of $7.4 million, compared with a loss of $100.8 million a year earlier. LTL tonnage per day rose 14.8%, while revenue improved 18.2% to $410.9 million.
For the full year, the LTL unit lost $58.3 million, compared with a loss of $168.5 million in 2009. Revenue rose 10.5% to $1.53 billion.
ABF last month appealed a judgeâ€™s ruling dismissing its suit against the Teamsters union and competitor YRC Worldwide over a labor agreement reached last year between YRC and the union.
It said Thursday that is opening brief is due to the U.S. Court of Appeals for the Eighth Circuit on Feb. 18.
Arkansas Best is ranked No. 16 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
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