Arkansas Best Doubles Profits
by August 4, 2003 12:00 am 54 views
Trucking carrier Arkansas Best Corp. more than doubled its second quarter profit compared with 2002’s same period, the firm reported July 18.
The Fort Smith’s company’s recent quarter saw net profit climb to $15.2 million (60 cents per share), up 134 percent from $6.5 million or 26 cents per share a year ago. The 2003 second quarter included a 33 cent per share, $8.4 million after-tax gain on the sale of its 19 percent interest in Wingfoot Commercial Tire Systems LLC.
The company’s largest subsidiary, less-than-truckload carrier ABF Freight Systems, had second quarter 2003 revenues of $337.2 million, up 9 percent from $308.1 million during 2002’s comparable quarter.