Transportation holding company Arkansas Best Corp., Ft. Smith, Ark., reported Thursday that its fourth-quarter profit rose 66% on increased revenue from LTL carrier ABF Freight System.

Quarterly income grew to $24.4 million, or 95 cents per share, from $14.7 million, or 58 cents per share, a year ago. Revenue rose 15 percent to $454.5 million from $393.7 million last year, driven by an 18 percent increase at ABF Freight.
For the full year, the company posted net income of $75.5 million, or $2.94 per share, up from $46.1 million, or $1.85 per share, last year. Revenue rose 10 percent to $1.72 billion from $1.56 billion. Analysts forecast earnings per share of $3.

0 Comments