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Arkansas Freightways Corp.

ARKANSAS FREIGHTWAYS CORP.

Quarterly Revenues Up 30 Percent

HARRISON -- Arkansas Freightways Corp. announced that operating revenues for the six months ended June 30 were $84,797,000, up 27.8 percent, compared with $66,477,000 for the six months ended June 30, 1990.

Operating revenues for the quarter ended June 30 were $45,873,000, up 29.7 percent from the same quarter last year.

Operating income was $6,466,000 for the six months ended June 30 and $4,128,000 for the three months ended June 30, 1991, compared with $6,212,000 and $4,082,000 for the same periods last year.

Net income for the first six months of 1991 was $3,089,000, 48 cents a share, compared with $3,105,000, 56 cents a share, in the first six months of 1990.

Net income for the second quarter was $2,348,000, 34 cents a share, compared with $2,051,000, 37 cents a share, in the second quarter of 1990.

Average shares outstanding for the first six months of 1991 and 1990 were 6,396,967 and 5,591,915, respectively.

The company has issued an additional 1,258,044 shares of common stock this year, which provided net proceeds of almost $30 million.

Arkansas Freightways is a scheduled, for-hire, common and contract motor carrier transporting primarily less-than-truckload shipments of general commodities.

The company operates in Alabama, Arkansas, Kansas, Louisiana, Mississippi, Missouri, Oklahoma, Texas, Tennessee and the metropolitan areas of Atlanta and Chicago.

Arkansas Freightways operates a fleet of more than 5,300 pieces of revenue equipment from 112 terminals.

Contact: James R. Dodd, Arkansas Freightways Corp., P.O. Box 840, Harrison, 72602-0840, 741-9000.
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Title Annotation:Public company corporate reports
Publication:Arkansas Business
Article Type:company profile
Date:Aug 12, 1991
Words:282
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