Arkansas Best’s 3Q Income Drops

Arkansas Best Corp. said Friday its third-quarter net income fell 40% due to lower freight levels and higher costs.

Net income fell to $18.9 million or 75 cents a share, from $31.5 million or $1.24 a year ago.

Revenue dipped 5% to $479.8 million.

Revenue at less-than-truckload unit ABF Freight System, the company’s largest subsidiary, fell 6.4% to $462.2 million, while operating income declined to $28.5 million from $49.4 million.
 
Arkansas Best Corp. is ranked No. 16 on the 2007 Transport Topics 100 listing of U.S. and Canadian for-hire carriers.