Arkansas Best Reports Record 2Q Net
July 24, 2000
Arkansas Best Corporation, Fort Smith, Ark., has announced its second quarter net income hit $17.7 million, a 60% increase from 1999’s second quarter and the highest for any quarter in the company's history.
Arkansas Best's second quarter 2000 revenue of $472.0 million represents a 12.7% increase over revenue in the second quarter of 1999.
"Arkansas Best Corporation continues to set new records with its performance," said Robert A. Young, III, Arkansas Best president and CEO. "ABF's second quarter operating ratio of 90.5% is the best for this quarter in 22 years. ABF's year-to-date operating ratio of 91.2% is its best since 1976."
Young said the company's three other subsidiaries also showed marked improvement and contributed significant earnings to the bottom line.