Arkansas Best Corporation announced fourth quarter 2011 earnings of $0.05 per share, compared to a fourth quarter 2010 loss of $0.12 per share. For full year 2011, Arkansas Best's earnings were $0.23 per share versus a loss of $1.30 per share in 2010. These quarterly results include charges for a supplemental pension settlement of $0.03 per share related to a previously disclosed ABF executive retirement effective at the end of 2011.
"Arkansas Best's profitable results for the fourth quarter and full year reflect an improving business environment as characterized by revenue growth in each of our operating segments. ABF's full-year results represent an important step toward achieving our goal of returning to historical profitability levels. For our non-asset-based businesses, 2011 was a year of management focus and investment that laid the foundation for more significant revenue and profit growth in the future," said Judy R. McReynolds, Arkansas Best President and Chief Executive Officer. "Our employees are to be commended for their successful efforts to address customer needs in an ever-evolving marketplace. They continue to deliver a unique combination of complementary service offerings and value."
"Arkansas Best Corporation, through ABF and its non-asset-based operating subsidiaries, provides a comprehensive set of transportation and maintenance solutions to our customers," said Ms. McReynolds. "The transportation industry is facing a number of challenges that will likely reduce the amount of capacity available to serve the marketplace. Because of the stability of our workforce and the capabilities we offer, our companies are well positioned to serve our customers in 2012 and in future years."