Arkansas Best Corp. said its 3Q net income was $1.3 million lower than it was in the same period last year, though its revenues grew when compared to the same period.
Arkansas Best's net income fell to $17 million in 3Q, and was $18.3 million during the same quarter in 2002. However, Arkansas Best’s third-quarter revenue reached $402.9 million, an increase of 7.3% over the third quarter last year.
President & CEO Robert A. Young III said that productivity measures at its ABF Freight Systems subsidiary were slightly below levels for the same period last year.
"These figures continue to be affected by additional shipment handling related to ABF's concentration on transit time improvements and premium services provided at pickup and delivery," Young said.