Arkansas Best Corporation today announced second quarter 2006 net incomeof $32.3 million, or $1.26 per diluted common share. Income from continuing
operations was $29.0 million, or $1.13 per diluted common share, compared
to second quarter 2005 income from continuing operations of $22.6 million,
or $0.88 per diluted common share. Arkansas Best's second quarter 2006
revenue was $479.3 million, an increase of 12.0% over second quarter 2005
revenue of $427.9 million.
As previously announced, in June 2006 Arkansas Best completed the sale
of Clipper Exxpress, its former intermodal transportation subsidiary.
Arkansas Best's discontinued operations include an after-tax gain on the
sale of Clipper of $0.12 per common share, which is subject to adjustments
based on the final closing balance sheet as of June 14, 2006. In addition,
discontinued operations include after-tax income of $0.01 per common share
associated with Clipper's second quarter operating results through the
closing date. Full Story.....
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