ARKANSAS BEST SEES 57% DROP IN EARNINGS
Arkansas Best Corp. recorded a third quarter net income of $13.0 million, down 57 percent from the third quarter of 2000. This year’s earnings include an after-tax gain of $2.8 million resulting from the sale of G.I. Trucking Co.
Third quarter 2001 revenues at ABF Freight System Inc, a subsidiary of Arkansas Best Corp., were down 8 percent to $330 million.
Through the first nine months of this year, ABF’s revenues have totaled $980 million, down 5 percent. Third quarter operating income at ABF was $22.1 million, down 46 percent.
Based in Fort Smith, Ark., Arkansas Best Corp. is the holding company for ABF Freight Systems, Clipper, G.I. Trucking, and Reliance Insurance Company.