Arkansas Best Corporation today announced a first quarter 2010 net loss of $21.4 million, or $0.85 per share, compared to a net loss of $18.2 million, or $0.73 per share in the first quarter of 2009."Despite some signs of improvement in our nation's economy resulting in the stabilization of our business, Arkansas Best's first quarter results illustrate the ongoing effects of low freight levels combined with a weak pricing environment. We have continued our focus on long-term profitable growth and the customer-service-level commitments it takes to accomplish this objective," said Judy R. McReynolds, Arkansas Best President and Chief Executive Officer. "We are encouraged by the first quarter increases in ABF's tonnage versus very low totals last year. However, in order for ABF's operating results to improve in a meaningful way, we need further increases in freight demand, strong improvements in pricing and the positive financial impact of wage concessions." Full report.......
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