Arkansas Best, Baldor, USA Truck see quarterly stock gains

The three publicly held companies based in the Fort Smith area saw their stock prices gain during the first quarter of 2010 — a trend not unlike that with most other Arkansas-based companies.

ARKANSAS BEST
Fort Smith-based Arkansas Best Corp., parent company of ABF Freight System, saw its shares (NASDAQ: ABFS) end the first quarter (March 31) at $29.88, up 4.7% from its closing price on the first day of the quarter. The company’s share price has managed to remain strong despite the ongoing national freight recession that has plagued the trucking industry since October 2006.

The company on Jan. 28 reported a fourth-quarter net income loss of $22.1 million. Arkansas Best has reported a combined loss of $72.27 million in the past five fiscal quarters. Fourth quarter revenue was $371.63 million, a 5% dip from the fourth quarter of 2008.

In 2009, the company posted a net income loss of $127.52 million, compared to a $29.168 gain in 2008. However, the 2009 income loss includes a non-cash accounting charge of $64 million for the impairment of goodwill. Total revenue in 2009 was $1.472 billion, a 19.6% dip from 2008 revenue of $1.833 billion.

BALDOR ELECTRIC
Fort Smith-based Baldor Electric Co. began the quarter and year with a share price close of $28.87. Company shares (NYSE: BEZ) closed the quarter at $37.40, an impressive 29.5% share price increase for the 90-day period.

The company also had a rough 2009.

The global manufacturing company reported Feb. 4 that its 2009 total sales and net income were down 22% and 40%, respectively, compared to 2008. Net income reached $59.796 million, compared to $99.423 million in 2008. Total sales in 2009 were $1.524 billion, compared to $1.954 billion in 2008. The company noted that 2008 included an extra week of sales.

USA TRUCK
Van Buren-based USA Truck Inc., also hit by the national freight recession, saw its shares (NASDAQ: USAK) close the quarter at $16.16, up 26.05% from the Jan. 4 close of $12.82.

The financial markets appear to be betting on the future of the company.

The company announced Jan. 28 a 2009 net income loss of $7.177 million compared to a gain of $3.14 million in 2008. The long-haul trucking company posted 2009 revenue of $382.36 million, down 28.6% compared to the $535.62 million in 2008.

In the fourth quarter of 2009, the company posted a $2.512 million income loss, compared to a $599,000 gain in the 2008 quarter. Total revenue in the fourth quarter 2009 was $100.31 million, down 13.6% from the 2008 quarter. The company has lost more than $3.64 million in the past five quarters.

STOCKS OF REGIONAL INTEREST
The first-quarter 2010 share price movement of a few other companies with operations in the Fort Smith/Van Buren area.

• BancorpSouth
Jan. 4: $23.65
March 31: $20.96

• Bank of the Ozarks
Jan. 4: $29.58
March 31: $35.19

• Dillard’s
Jan. 4: $18.69
March 31: $23.60

• OG&E
Jan. 4: $36.97
March 31: $38.94

• Simmons First
Jan. 4: $27.87
March 31: $27.57

• Tyson Foods
Jan. 4: $12.24
March 31: $19.15

• Wal-Mart Stores Inc.
Jan. 4: $54.23
March 31: $55.60

• Whirlpool
Jan. 4: $81.95
March 31: $87.25