Arkansas Best Corporation Announces Fourth Quarter 2013 Results And Full Year 2013 Results

Arkansas Best Corporation Announces Fourth Quarter 2013 Results And Full Year
                                 2013 Results

- Fourth quarter 2013 net income of $10.3 million, or $0.38 per share

- ABF Freight fourth quarter profit generated by business and pricing
increases and improved cost structure following implementation of its new
labor agreement

- Panther's operating income nearly tripled in fourth quarter

- Emerging, non-asset-based businesses represent 25% of total 2013
consolidated revenue

PR Newswire

FORT SMITH, Ark., Jan. 30, 2014

FORT SMITH, Ark., Jan. 30, 2014 /PRNewswire/ --Arkansas Best Corporation
(Nasdaq: ABFS) today reported results for the fourth quarter and full year
2013 that reflected solidly improved profitability at ABF Freight System,
Inc., Panther Expedited Services and revenue growth at Arkansas Best's other
emerging, non-asset based businesses.

Arkansas Best's 2013 revenue was $2.3 billion, an increase of 11% compared to
$2.1billion in 2012. Arkansas Best had 2013 net income of $15.8 million, or
$0.59 per share, compared to a net loss of $7.7 million, or $0.31 per share,
in 2012.

Arkansas Best's fourth quarter 2013 net income was $10.3 million, or $0.38 per
share, compared to a fourth quarter 2012 net loss of $7.9 million, or $0.31
per share. Excluding adjustments for non-operational items that are
identified in the attached reconciliation table, Arkansas Best had fourth
quarter 2013 net income of $8.4 million, or $0.31 per share. Arkansas Best's
fourth quarter 2013 revenue was $578.5 million compared to revenue of $537.0
million in the fourth quarter of 2012.

"After a very challenging year in which we negotiated and implemented a new
five-year labor agreement with the International Brotherhood of Teamsters, I
am very pleased to report that ABF Freight ended the year with solid
profitability, substantially reversing the unacceptable trend of losses in
2012," said Arkansas Best President and Chief Executive Officer Judy R.
McReynolds. "While that lengthy process was ongoing, we continued to make
important strategic investments in our emerging businesses, all of which
reported increased revenues and are well positioned for additional growth in
2014."

McReynolds added that the company as a whole now has greater stability and
resources with which to continue providing the holistic transportation and
logistics solutions sought by customers. "Everyone at Arkansas Best and our
operating companies is energized by the opportunities in front of us. We are
working hard to offer a more easily accessible range of services along with
the traditional high level of personal commitment to a job well done that our
customers have come to expect."

ABF Freight System, Inc.

Increased business levels and improved account pricing were the primary
factors that contributed to fourth quarter 2013 profitability at ABF Freight.
A better customer shipping environment and a more stable economy provided
additional shipments in the ABF Freight network. This resulted in greater
capacity utilization that contributed to improved fourth quarter results. In
addition, cost savings related to the early November implementation of ABF
Freight's new labor agreement positively impacted the quarter.

Increased fourth quarter pricing at ABF Freight was the result of continued
focus on individual account profitability and a stable yield environment
throughout the LTL industry. The company believes the clarity that resulted
from the resolution of ABF's labor agreement was another positive factor
contributing to higher average rates on fourth quarter ABF shipments.

Emerging, Non-Asset-Based Businesses

Panther Expedited Services, Inc. experienced significant improvement in fourth
quarter profitability as operating income nearly tripled on higher quarterly
revenue. Increased demand for the premium services offered by Panther
occurred in the majority of customer industries it serves, thus allowing for
solid pricing and margin expansion throughout the fourth quarter.

All of the remaining non-asset-based businesses experienced growth in fourth
quarter revenue, highlighted by the Domestic & Global Transportation
Management segment that increased quarterly revenue by 43% and generated a
slight increase in operating income. Strategic investments in additional
personnel, information technology and other resources impacted the level of
profitability in this segment and contributed to a decline in fourth quarter
profitability at the Household Goods Moving Services segment. However these
investments, that are important for future growth and improved customer
service, are expected to positively impact the long-term results of these
businesses. Additional revenue of 14% at the Emergency & Preventative
Maintenance segment resulted in an operating income increase of 80% related to
improved pricing and cost controls, as well as labor efficiencies associated
with increased maintenance-event volume.

For full year 2013 together, Arkansas Best's emerging non-asset-based
businesses demonstrated strong, positive increases in revenue and operating
margins and produced positive cash flow. Because of continued growth
throughout the year, these businesses now represent 25% of total consolidated
revenue and contributed significantly to Arkansas Best's operating results.
On a combined basis throughout 2013, the non-asset-based businesses generated
earnings before interest, taxes, depreciation and amortization ("EBITDA") of
$28.0 million.

Capital Expenditures

In 2013, total net capital expenditures amounted to $24 million, including
approximately $3million of revenue equipment for ABF Freight. ABF Freight
2013 revenue equipment purchases were significantly below normal due to the
delayed implementation of the labor contract, as described above.
Depreciation and amortization costs on fixed assets equaled $84million.

For 2014, total net capital expenditures are estimated to be in the range of
$90 million to $100 million. This includes approximately $60 million of
revenue equipment for ABF Freight, all of which will be replacements. The
remainder of expected capital expenditures includes the costs of additional
equipment for ABF Freight and the other subsidiaries; real estate
improvements; and technology. Depreciation and amortization costs on fixed
assets in 2014 are estimated to be in a range of $85 million to $90 million.

Closing Comments

"As I look ahead to 2014, I am encouraged that we have growth opportunities in
many industries and markets we serve, despite my expectations for a slow
growing economy overall," said McReynolds. "Last year we achieved many
significant milestones that give us a much stronger ability to compete in an
ever-changing marketplace. We are positioned to effectively respond to our
customers who increasingly look to us for ways to help them manage their
complex transportation, supply chain and logistics needs."

Conference Call

Arkansas Best Corporation will host a conference call with company executives
to discuss the 2013 fourth quarter and full year results. The call will be
today, Thursday, January30, at 9:30a.m. ET (8:30 a.m. CT). Interested
parties are invited to listen by calling (800) 709-0218. Following the call,
a recorded playback will be available through the end of the day on March 1,
2014. To listen to the playback, dial (800) 633-8284 or (402) 977-9140 (for
international callers). The conference call ID for the playback is 21703284.
The conference call and playback can also be accessed, through March 1, on
Arkansas Best's website at arkbest.com.

Company Description

Arkansas Best Corporation, headquartered in Fort Smith, Arkansas, is a freight
transportation services and solutions provider. Through its various
subsidiaries, Arkansas Best offers a wide variety of logistics solutions
including: domestic and global transportation of less-than-truckload ("LTL")
and full load shipments, expedited ground and time-definite delivery
solutions, freight forwarding services, freight brokerage, oversight of
roadside assistance and equipment services for commercial vehicles, and
household goods moving market services for consumers, corporations, and the
military. More information is available at arkbest.com, abf.com and
pantherexpedite.com.

Forward-Looking Statements

The following is a "safe harbor" statement under the Private Securities
Litigation Reform Act of 1995: Statements contained in this report that are
not based on historical facts are "forward-looking statements." Terms such as
"anticipate," "believe," "could," "estimate," "expect," "forecast," "intend,"
"may," "plan," "predict," "project," "prospects," "scheduled," "should,"
"would," and similar expressions and the negatives of such terms are intended
to identify forward-looking statements. Such statements are by their nature
subject to uncertainties and risk including, but not limited to, a workforce
stoppage by our employees covered under ABF's collective bargaining agreement
or unfavorable terms of future collective bargaining agreements; relationships
with employees, including unions; general economic conditions and related
shifts in market demand that impact the performance and needs of industries
served by Arkansas Best Corporation's subsidiaries and/or limit our customers'
access to adequate financial resources; union and nonunion employee wages and
benefits, including changes in required contributions to multiemployer pension
plans; competitive initiatives, pricing pressures and the effect of volatility
in fuel prices and the associated changes in fuel surcharges on securing
increases in base freight rates and the inability to collect fuel surcharges;
availability of fuel; default on covenants of financing arrangements and the
availability and terms of future financing arrangements; availability and cost
of reliable third-party services; disruptions or failures of services
essential to the use of information technology platforms in our business;
availability, timing, and amount of capital expenditures; future costs of
operating expenses such as fuel and related taxes; self-insurance claims and
insurance premium costs; governmental regulations and policies; future climate
change legislation; potential impairment of goodwill and intangible assets;
the impact of our brand and corporate reputation; the cost, timing, and
performance of growth initiatives; the cost, integration, and performance of
any future acquisitions; the costs of continuing investments in technology, a
failure of our information systems, and the impact of cyber incidents; weather
conditions; and other financial, operational, and legal risks and
uncertainties detailed from time to time in Arkansas Best Corporation's
Securities and Exchange Commission public filings.

The following tables show financial data and operating statistics on Arkansas
Best Corporation and its subsidiary companies.

ARKANSAS BEST CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
              Three Months Ended                Year Ended
              December 31                       December 31
              2013             2012             2013             2012
              (Unaudited)
              ($ thousands, except share and per share data)
OPERATING     $  578,549       $  537,042       $  2,299,549     $  2,065,999
REVENUES
OPERATING
EXPENSES AND     565,047          548,058          2,280,479        2,080,567
COSTS
OPERATING        13,502           (11,016)         19,070           (14,568)
INCOME (LOSS)
OTHER INCOME
(EXPENSE)
Interest and
dividend         182              185              681              808
income
Interest
expense and
other related    (903)            (1,409)          (4,183)          (5,273)
financing
costs
Other, net       1,114            (76)             3,893            2,041
                 393              (1,300)          391              (2,424)
INCOME (LOSS)
BEFORE INCOME    13,895           (12,316)         19,461           (16,992)
TAXES
INCOME TAX
PROVISION        3,549            (4,387)          3,650            (9,260)
(BENEFIT)
NET INCOME    $  10,346        $  (7,929)       $  15,811        $  (7,732)
(LOSS)
EARNINGS
(LOSS) PER
COMMON
SHARE^(1)
Basic         $  0.38          $  (0.31)        $  0.59          $  (0.31)
Diluted       $  0.38          $  (0.31)        $  0.59          $  (0.31)
AVERAGE
COMMON SHARES
OUTSTANDING
Basic            25,785,485       25,629,309       25,714,205       25,564,752
Diluted          25,793,366       25,629,309       25,714,205       25,564,752
CASH
DIVIDENDS
DECLARED      $  0.03          $  0.03          $  0.12          $  0.12
 PER COMMON
SHARE
(1) The Company uses the two-class method for calculating earnings per share.
This method, as calculated below, requires an allocation of dividends paid and
a portion of undistributednet income (but not losses) to unvested restricted
stock for calculating per share amounts.
NET INCOME    $  10,346        $  (7,929)       $  15,811        $  (7,732)
(LOSS)
EFFECT OF
UNVESTED
RESTRICTED       (505)            (38)             (720)            (149)
 STOCK
AWARDS^(1)
ADJUSTED NET
INCOME (LOSS)
FOR

 CALCULATING $  9,841         $  (7,967)       $  15,091        $  (7,881)
EARNINGS
(LOSS)

 PER COMMON
SHARE



ARKANSAS BEST CORPORATION
CONSOLIDATED BALANCE SHEETS
                                              December 31         December 31
                                              2013                2012
                                              (Unaudited)         Note
                                              ($ thousands, except share data)
ASSETS
CURRENT ASSETS
Cash and cash equivalents                     $   105,354      $  90,702
Short-term investments                            35,906          29,054
Restricted cash, cash equivalents, and            1,902           9,658
short-term investments
Accounts receivable, less allowances (2013 –      202,540         180,631
$4,533; 2012 – $5,249)
Other accounts receivable, less allowances        7,272           6,539
(2013 – $1,422; 2012 – $1,334)
Prepaid expenses                                  19,016          17,355
Deferred income taxes                             37,482          39,245
Prepaid and refundable income taxes               2,061           5,681
Other                                             6,952           7,185
TOTAL CURRENT ASSETS                              418,485         386,050
PROPERTY, PLANT AND EQUIPMENT
Land and structures                               245,805         243,699
Revenue equipment                                 589,902         589,729
Service, office, and other equipment              124,303         119,456
Software                                          110,998         103,164
Leasehold improvements                            23,582          23,272
                                                  1,094,590       1,079,320
Less allowances for depreciation and              700,193         635,292
amortization
                                                  394,397         444,028
GOODWILL                                          76,448          73,189
INTANGIBLE ASSETS, NET                            75,387          79,561
OTHER ASSETS                                      52,609          51,634
                                              $   1,017,326    $  1,034,462
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES
Bank overdraft and drafts payable             $   13,609       $  13,645
Accounts payable                                  89,091          84,292
Income taxes payable                              1,782           59
Accrued expenses                                  173,622         158,668
Current portion of long-term debt                 31,513          43,044
TOTAL CURRENT LIABILITIES                         309,617         299,708
LONG-TERM DEBT, less current portion              81,332          112,941
PENSION AND POSTRETIREMENT LIABILITIES            26,847          104,673
OTHER LIABILITIES                                 15,041          12,832
DEFERRED INCOME TAXES                             64,028          45,309
STOCKHOLDERS' EQUITY
Common stock, $0.01 par value, authorized
70,000,000 shares;
                                                  275             273
 issued 2013: 27,507,241 shares; 2012:
27,296,285 shares
Additional paid-in-capital                        296,133         289,711
Retained earnings                                 296,735         284,157
Treasury stock, at cost, 1,677,932 shares         (57,770)        (57,770)
Accumulated other comprehensive loss              (14,912)        (57,372)
TOTAL STOCKHOLDERS' EQUITY                        520,461         458,999
                                              $   1,017,326    $  1,034,462

Note: The balance sheet at December 31, 2012 has been derived from the audited
financial statements at that date but does not include all of the information
and footnotes required by generally accepted accounting principles for
complete financial statements.



ARKANSAS BEST CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                       Year Ended Ended

                                                       December 31
                                                       2013        2012
                                                       (Unaudited)
                                                       ($ thousands)
OPERATING ACTIVITIES
Net income (loss)                                      $ 15,811    $ (7,732)
Adjustments to reconcile net income (loss)
 to net cash provided by operating activities:
Depreciation and amortization                            84,215      85,493
Amortization of intangibles                              4,174       2,261
Pension settlement expense                               2,111       –
Share-based compensation expense                         5,494       6,068
Provision for losses on accounts receivable              2,065       1,524
Deferred income tax benefit                              (10,367)    (10,359)
Gain on sale of property and equipment                   (153)       (735)
Changes in operating assets and liabilities:
Receivables                                              (24,200)    508
Prepaid expenses                                         (1,670)     305
Other assets                                             (1,015)     961
Income taxes                                             8,468       2,630
Accounts payable, accrued expenses, and other            8,571       3,610
liabilities
NET CASH PROVIDED BY OPERATING ACTIVITIES                93,504      84,534
INVESTING ACTIVITIES
Purchases of property, plant and equipment, net of       (26,369)    (37,278)
financings
Proceeds from sale of property and equipment             2,194       6,397
Purchases of short-term investments                      (39,605)    (55,858)
Proceeds from sale of short-term investments             32,718      60,730
Business acquisition, net of cash acquired^(1)           (4,146)     (180,039)
Capitalization of internally developed software and      (7,668)     (7,218)
other
NET CASH USED IN INVESTING ACTIVITIES                    (42,876)    (213,266)
FINANCING ACTIVITIES
Borrowing under credit facilities                        –           100,000
Payments on long-term debt                               (43,176)    (53,000)
Net change in bank overdraft and other                   (37)        (7,190)
Net change in restricted cash, cash equivalents, and     7,756       43,035
short-term investments
Deferred financing costs                                 (71)        (1,487)
Payment of common stock dividends                        (3,233)     (3,219)
Proceeds from the exercise of stock options              2,785       –
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES      (35,976)    78,139
NET INCREASE (DECREASE) IN CASH AND CASH                 14,652      (50,593)
EQUIVALENTS
Cash and cash equivalents at beginning of period         90,702      141,295
CASH AND CASH EQUIVALENTS AT END OF PERIOD             $ 105,354   $ 90,702
NONCASH INVESTING ACTIVITIES
Accruals for equipment received                        $ 324       $ 301
Equipment financed                                     $ 36        $ 37,973

    During second quarter 2013, the Company acquired a privately-held
(1) logistics business that has been reported within the Household Goods
    Moving Services segment.



ARKANSAS BEST CORPORATION
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES
                                    Three Months Ended    Year Ended
                                    December 31           December 31
                                    2013       2012       2013       2012
                                    (Unaudited)
                                    ($ thousands, except per share data)
ARKANSAS BEST CORPORATION –
CONSOLIDATED
Net Income (Loss)
 Amounts on a GAAP basis           $ 10,346   $ (7,929)  $ 15,811   $ (7,732)
 Collective bargaining agreement     (1,435)    –          –          –
adjustments, after tax^(1)
 Tax benefits^(2)                    (670)      529        (1,436)    (3,180)
 Transaction costs, after-tax^(3)    –          –          –          1,294
 Pension settlement expense,         169        –          1,290      –
after-tax^(4)
 Non-GAAP amounts                  $ 8,410    $ (7,400)  $ 15,665   $ (9,618)
Diluted Earnings (Loss) Per Share
 Amounts on a GAAP basis           $ 0.38     $ (0.31)   $ 0.59     $ (0.31)
 Collective bargaining agreement     (0.06)     –          –          –
adjustments, after tax^(1)
 Tax benefits^(2)                    (0.02)     0.02       (0.06)     (0.12)
 Transaction costs, after-tax^(3)    –          –          –          0.05
 Pension settlement expense,         0.01       –          0.05       –
after-tax^(4)
 Non-GAAP amounts                  $ 0.31     $ (0.29)   $ 0.58     $ (0.38)
ARKANSAS BEST CORPORATION –
CONSOLIDATED
Earnings Before Interest, Taxes,
Depreciation
 and Amortization
 Net income (loss)                 $ 10,346   $ (7,929)  $ 15,811   $ (7,732)
 Interest expense                    903        1,409      4,183      5,273
 Income tax provision (benefit)      3,549      (4,387)    3,650      (9,260)
 Depreciation and amortization       20,819     23,764     88,388     87,754
 Amortization of share-based         1,915      1,357      5,494      6,068
compensation
 Amortization of actuarial losses    1,228      2,846      10,046     11,385
and pension settlement expense
 EBITDA                              38,760     17,060     127,572    93,488
 Transaction costs, pre-tax^(3)      –          –          –          2,129
 Adjusted EBITDA                   $ 38,760   $ 17,060   $ 127,572  $ 95,617

    The ABF collective bargaining agreement, which was implemented November 3,
(1) 2013, provided for certain reductions in annual compensated vacation that
    impacted amounts expensed but not paid in periods prior to fourth quarter
    2013.
(2) Tax benefit adjustments related to deferred tax asset valuation
    allowances.
(3) Transaction costs associated with the June 15, 2012 acquisition of Panther
    Expedited Services, Inc.
(4) Settlement expense related to the company's nonunion defined benefit
    pension plan which was frozen effective July 1, 2013.

Non-GAAP Financial Measures. The company reports its financial results in
accordance with generally accepted accounting principles ("GAAP"). However,
management believes that certain non-GAAP performance measures and ratios
utilized for internal analysis provide financial statement users meaningful
comparisons between current and prior period results, as well as important
information regarding performance trends. Certain information discussed in the
scheduled conference call could be considered non-GAAP measures. Non-GAAP
financial measures should be viewed in addition to, and not as an alternative
for, the company's reported results. Management believes EBITDA to be relevant
and useful information as EBITDA is a standard measure commonly reported and
widely used by analysts, investors and others to measure financial performance
and ability to service debt obligations. However, these financial measures
should not be construed as better measurements than operating income,
operating cash flow, net income or earnings per share, as defined by generally
accepted accounting principles. Other companies may calculate EBITDA
differently, and therefore the company's EBITDA may not be comparable to
similarly titled measures of other companies.



ARKANSAS BEST CORPORATION
RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES
                Three Months Ended               Three Months Ended
                December 31                      December 31
                2013                             2012
                Operating Depreciation           Operating Depreciation
                          and          EBITDA    Income    and          EBITDA
                Income    Amortization                     Amortization
Premium
Logistics &
Expedited       $  3,211  $   2,707    $ 5,918   $  1,118  $    2,473   $ 3,591
Freight
Services^(1)
Domestic &
Global             1,409      191        1,600      1,357       119       1,476
Transportation
Management
Emergency &
Preventative       907        141        1,048      505         125       630
Maintenance
Household Goods    (702)      367        (335)      (107)       242       135
Moving Services
Total
non-asset-based $  4,825  $   3,406    $ 8,231   $  2,873  $    2,959   $ 5,832
segments
                Year Ended                       Year Ended
                December 31                      December 31
                2013                             2012
                Operating Depreciation           Operating Depreciation
                          and          EBITDA    Income    and          EBITDA
                Income    Amortization                     Amortization
Premium
Logistics &
Expedited       $  6,956  $   10,516   $ 17,472  $  2,402  $    5,438   $ 7,840
Freight
Services^(1)
Domestic &
Global             2,973      640        3,613      3,013       364       3,377
Transportation
Management
Emergency &
Preventative       3,274      540        3,814      1,935       497       2,432
Maintenance
Household Goods    1,850      1,247      3,097      692         769       1,461
Moving Services
Total
non-asset-based $  15,053 $   12,943   $ 27,996  $  8,042  $    7,068   $ 15,110
segments

    Depreciation and amortization consists primarily of amortization of
    intangibles, including customer relationships and software, which were
(1) acquired in conjunction with the purchase of Panther Expedited Services,
    Inc. on June 15, 2012. Amounts for the year ended December 31, 2012
    reflect the period from the date of acquisition, June 15, to December 31.





ARKANSAS BEST CORPORATION
FINANCIAL STATEMENT OPERATING SEGMENT DATA AND OPERATING RATIOS
                 Three Months Ended                 Year Ended
                 December 31                        December 31
                 2013             2012              2013               2012
                 (Unaudited)
                 ($ thousands)
OPERATING
REVENUES
Freight          $ 436,654        $ 414,475         $ 1,761,716        $ 1,701,495
Transportation


Premium
Logistics &        67,316           61,046            246,849            132,326
Expedited

 Freight
Services^(1)
Domestic &
Global
Transportation     30,668           21,477            105,223            66,431

 Management
Emergency &
Preventative       35,042           30,704            137,546            115,968

 Maintenance
Household Goods
Moving             16,811           16,377            82,169             77,619
 Services
Total
non-asset-based    149,837          129,604           571,787            392,344
segments
Other revenues     (7,942)          (7,037)           (33,954)           (27,840)
and eliminations
Total
consolidated     $ 578,549        $ 537,042         $ 2,299,549        $ 2,065,999
 operating
revenues
OPERATING
EXPENSES AND
COSTS
Freight
Transportation
Salaries, wages, $ 258,757 59.3%  $ 264,926 63.9%   $ 1,075,259 61.0%  $ 1,071,084 62.9%
and benefits
Fuel, supplies,    81,946  18.8     82,171  19.8      332,433   18.9     329,284   19.4
and expenses
Operating taxes    11,072  2.5      10,823  2.6       43,865    2.5      43,336    2.5
and licenses
Insurance          4,413   1.0      5,334   1.3       21,823    1.2      20,742    1.2
Communications     3,492   0.8      3,644   0.9       15,027    0.9      14,713    0.9
and utilities
Depreciation and   16,810  3.8      20,269  4.9       72,971    4.1      78,672    4.6
amortization
Rents and
purchased
                   47,453  10.9     39,897  9.6       180,689   10.3     156,810   9.2

transportation
Gain on sale of
property           (90)    –        (132)   –         (576)     –        (711)     –

 and equipment
Pension
settlement         219     0.1      –       –         1,831     0.1      –         –
expense
Other              2,713   0.5      1,583   0.4       8,361     0.4      7,365     0.5
                   426,785 97.7%    428,515 103.4%    1,751,683 99.4%    1,721,295 101.2%
Premium
Logistics &
Expedited

Freight
Services^(1)
Purchased        $ 51,072  75.9%  $ 47,052  77.1%   $ 188,561   76.4%  $ 101,559   76.7%
transportation
Depreciation and   2,707   4.0      2,473   4.1       10,516    4.3      5,438     4.1
amortization^(1)
Salaries,
benefits,
insurance,         10,326  15.3     10,403  17.0      40,816    16.5     22,927    17.4

 and other
                   64,105  95.2%    59,928  98.2%     239,893   97.2%    129,924   98.2%
Domestic &
Global
Transportation     29,259           20,120            102,250            63,418

 Management
Emergency &
Preventative       34,135           30,199            134,272            114,033

 Maintenance
Household Goods
Moving             17,513           16,484            80,319             76,927
 Services
Total
non-asset-based    145,012          126,731           556,734            384,302
segments
Other expenses     (6,750)          (7,188)           (27,938)           (25,030)
and eliminations
Total
consolidated
operating        $ 565,047        $ 548,058         $ 2,280,479        $ 2,080,567

 expenses and
costs

    Depreciation and amortization consists primarily of amortization of
    intangibles, including customer relationships and software, which were
(1) acquired in conjunction with the purchase of Panther Expedited Services,
    Inc. on June 15, 2012. Amounts for the year ended December 31, 2012
    reflect the period from the date of acquisition, June 15, to December 31.
Note: See the following page for description of segments.





ARKANSAS BEST CORPORATION
FINANCIAL STATEMENT OPERATING SEGMENT DATA AND OPERATING RATIOS – Continued
                                 Three Months Ended     Year Ended
                                 December 31            December 31
                                 2013       2012        2013       2012
                                 (Unaudited)
                                 ($ thousands)
OPERATING INCOME (LOSS)
Freight Transportation           $ 9,869    $ (14,040)  $ 10,033   $ (19,800)

                                   3,211      1,118       6,956      2,402
Premium Logistics & Expedited
 Freight Services
Domestic & Global Transportation
                                   1,409      1,357       2,973      3,013
 Management
Emergency & Preventative
                                   907        505         3,274      1,935
 Maintenance
Household Goods Moving             (702)      (107)       1,850      692
 Services
Total non-asset-based segments     4,825      2,873       15,053     8,042
Other income (loss) and            (1,192)    151         (6,016)    (2,810)
 eliminations^(1)
Total consolidated operating     $ 13,502   $ (11,016)  $ 19,070   $ (14,568)
 income (loss)

Description of Segments:

  oFreight Transportation includes the results of operations of Arkansas
    Best's largest subsidiary, ABF Freight System, Inc.^®.
  oPanther Expedited Services, Inc., which was acquired on June 15, 2012, is
    reported as Premium Logistics & Expedited Freight Services.
  oDomestic & Global Transportation Management includes the company's
    transportation brokerage services, ocean container transport, and
    warehousing services operating as ABF Logistics.
  oEmergency & Preventative Maintenance includes the roadside vehicle
    assistance and commercial equipment services subsidiary FleetNet America,
    Inc.
  oHousehold Goods Moving Services includes Albert Companies, Inc. and Moving
    Solutions, Inc. which provide services to the consumer, corporate, and
    military household goods moving market.

Certain reclassifications have been made to the prior year's operating segment
data to conform to the current year presentation. The operating results of
Global Supply Chain Services and Supply Chain Services, businesses which
provide ocean container transport and warehousing services, have been
reclassified from the Freight Transportation segment to the Domestic & Global
Transportation Management segment. There was no impact on consolidated amounts
as a result of these reclassifications.
                Other income (loss) and eliminations for 2013 includes $1
                million of expense for workers' compensation reserves
(1)             associated with an insolvent insurance carrier. 2013 also
                reflects costs of long-term incentive plans that are driven by
                the company's total shareholder return relative to its peer
                group.





ARKANSAS BEST CORPORATION
OPERATING STATISTICS
                                            Three Months Ended               Year Ended
                                            December 31                      December 31
                                            2013        2012        %Change  2013        2012        %Change
                                            (Unaudited)
Freight Transportation ^(1)
Workdays                                      61.5        61.5                 251.5       252.0
Billed Revenue ^(2) / CWT        $ 28.46     $ 27.83     2.3%     $ 27.94     $ 27.90     0.1%
Billed Revenue ^(2) / Shipment          $ 377.65    $ 379.63    (0.5)%   $ 380.25    $ 378.55    0.4%
Shipments   1,143,813   1,083,479 5.6%       4,632,150   4,493,491 3.1%
Shipments / Day                               18,599      17,618    5.6%       18,418      17,831    3.3%
Tonnage (tons)     758,987     738,947   2.7%       3,152,042   3,048,336 3.4%
Tons / Day                                    12,341      12,015    2.7%       12,533      12,097    3.6%

    Based on the previously described reclassifications that have been made
    to the prior year's operating segment data and statistics to conform to
(1) the current year presentation, operations of Global Supply Chain Services
    and Supply Chain Services are excluded from key operating statistics for
    the Freight Transportation Segment.
(2) Billed Revenue does not include revenue deferral required for financial
    statement purposes under the company's revenue recognition policy.



Contact: Investors: Mr. David Humphrey, Vice President, Investor Relations
         Telephone: (479) 785-6200
         Media: Ms. Kathy Fieweger, Vice President, Marketing and Corporate
         Communications
         Telephone: (479) 719-4358

SOURCE Arkansas Best Corporation

Website: http://www.arkbest.com
 
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