WASHINGTON (dpa-AFX) - Arkansas Best Corp. (ABFS) posted first quarter net loss attributable to company of $18.16 million or $0.71 per share versus loss of $12.81 million or $0.51 per share last year.
On average, 16 analysts polled by Thomson Reuters expected the company to report loss of $0.18 per share. Analysts' estimates typically exclude special items.
Operating revenues rose to $440.87 million from $434.93 million in the prior-year quarter. Analysts estimated revenues of $450.74 million.
'Although first quarter results do not meet our expectations, we are positioning our company for longer term success,' said Arkansas Best President and CEO, Judy McReynolds. 'The pricing measures we have taken have improved the incremental profitability of ABF's account base for future periods. Our deliberate actions of adding personnel and developing enhanced information technology systems, all designed to advance a high level of service and facilitate future growth, are essential investments for our company...'
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