Cybergal
Well-Known Member
Arkansas Best Posts $15.4 Million Loss in 2Q
7/22/09
7/22/09
Arkansas Best Corp. of Fort Smith turned to a loss in the second quarter, just as many other trucking companies have during the continuing recession, which has brought about lower freight demand.
The trucking company lost $15.4 million or 62 cents a share, compared to net income of $16.2 million or 63 cents a share in the second quarter of 2008. Analysts were expecting the company would post a loss of 27 cents a share.
The loss includes 12 cents a share for additional costs associated with nonunion healthcare and pension, workers' compensation and third-party casualty insurance claims compared to prior year quarter.
Arkansas Best Posts $15.4 Million Loss in 2Q - ArkansasBusiness.com