Arkansas Best Corp. reported a $7.9 million fourth-quarter loss as flat revenue, tonnage and pricing were offset by higher costs.
The parent company of less-than-truckload carrier Arkansas Best Freight lost 31 cents a share for the quarter, compared with a profit of $1.4 million, or 5 cents, in the same period a year earlier.
Revenue rose to $537 million from $463.2 million in the previous fourth quarter, Arkansas Best said Wednesday.
The loss included a charge of $2.4 million, or 9 cents a share, related to higher workers’ compensation costs.
ABF Freight System had an operating loss of $13.6 million — including $3.8 million in higher workers' comp costs — compared with operating income of $1.3 million a year earlier. Revenue at ABF, Arkansas Best’s largest business unit, rose slightly to $422.8 million.
For the full year, Arkansas Best lost $7.7 million, or 31 cents per share, compared with a profit of $6.2 million, or 23 cents, in 2011. Revenue rose to $2.1 billion from $1.9 billion.
Arkansas Best Corp. is ranked No. 13 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.
