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Arkansas Best Shares Tumble On Steep 1Q Loss

Stock quotes in this article: ABFS  

FORT SMITH, Ark. (AP) — Shares of trucking company Arkansas Best Corp. tumbled Wednesday after the trucking company said it posted an $18.2 million first-quarter loss, citing the weak economy and resulting drop in freight levels.

In morning trading, Arkansas Best shares fell 51 cents, or 2.2 percent, to $22.24 after plunging as low as $20.08 after the market opened.

Arkansas Best's loss amounted to 73 cents per share, compared with a first-quarter 2008 profit of $8.5 million, or 34 cents per share. Operating revenue fell 24 percent to $339.7 million from $447.5 million. ...

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