Tom Biery/Trans Pixs
Arkansas Best Corp. posted a fourth-quarter profit after a third-quarter loss, and net income was higher than the same period last year.
Net income rose to $10.3 million, or 38 cents a share, from a loss of $7.9 million, or 31 cents, a year ago, the company reported Jan. 30. Revenue rose to $578.5 million from $537 million.
Operating income at less-than-truckload carrier ABF Freight System, Arkansas Best’s largest business unit, was $9.9 million from a loss of $14 million a year ago.
Fourth-quarter operating income at its Panther Expedited premium logistics unit jumped to $3.2 million from $1.1 million a year ago.
Full-year net income rose to $15.8 million, or 59 cents a share, from a loss of $7.7 million, or 31 cents, a year ago, the company reported. Revenue for 2013 rose 11% from a year ago to $2.3 billion.