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NEWS Arkansas Best Corporation announced third quarter 2005 net income of $40.6 million, or $1.59 per diluted common share, compared to third quarter 2004 net income of $27.4 million, or $1.07 per diluted common share. Excluding an after-tax gain of $9.8 million ($0.38 per diluted common share) related to the July 2005 sale of three non-ABF terminal facilities located in California to G.I. Trucking Company, third quarter 2005 earnings per diluted common share were $1.21. Arkansas Best's after-tax return on capital employed for the twelve months ended September 30, 2005 was 20.6%. Arkansas Best's revenue during the third quarter of 2005 was $489.9 million, an increase of 6.1% over the third quarter of 2004. ABF Freight System, Inc. ABF Freight System, Inc., the company's largest subsidiary, had third quarter 2005 revenue of $451.8 million, a per-day increase of 5.6% compared to third quarter 2004 revenue of $427.9 million. ABF's third quarter 2005 operating ratio was 88.5% versus an operating ratio of 89.2% during the third quarter of 2004. Third quarter 2005 operating income at ABF was $52.0 million compared to $46.2 million in the third quarter of 2004, an increase of 12.5%. ABF's total tonnage per day in the third quarter of 2005 was down slightly versus a year ago, decreasing by 0.4%. Compared to the same periods last year, LTL tonnage per day decreased 6.3% in June 2005; 5.6% in July 2005; 2.9% in August 2005 and 0.7% in September 2005. Overall, third quarter 2005 LTL tonnage per day decreased 3.0% compared to third quarter 2004. ABF's 2005 third quarter truckload tonnage per day increased by 10.1%, including an increase of 15.6% in September. Total billed revenue per hundred-weight was $24.43 compared to $22.84 in the third quarter of 2004. Total billed revenue per hundred-weight, excluding fuel surcharge, increased by 1.2%. ABF's third quarter 2005 total weight per shipment increased by 3.6% versus the third quarter of 2004. Third quarter 2005 total length of haul declined by 0.8% compared to the third quarter of 2004. Increases in weight per shipment and decreases in length of haul cause revenue per hundredweight to go down. |