ArcBest (ARCB), a logistics company, Tuesday reported a loss in the first quarter compared with profit last year, despite higher revenues.
For the First quarter, Net loss was $1.04 million or $0.05 per share, compared with the net income of $3.13 million or $0.13 per share, in the prior year.
The company posted higher other expenses for the quarter which came in at $4.76 million compared to $2.46 million a year earlier.
Excluding items, earnings were $7.2 million, or $0.32 per share, compared to $11.9 million, or $0.51 per share, last year. However, Quarterly revenue rose to $998.79 million from $967.07 million a year earlier, driven by shipment growth led by Managed. On the Nasdaq, shares of ArcBest were gaining 0.21 percent in pre market activity at $127.01, after closing Monday's regular trading 3.46 percent higher at $126.74
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