"However, the progress made so far does not produce sufficient returns for our shareholders nor does it allow us to adequately recapitalize our business," the company said in a statement.
Further profitability gains should result from improved pricing on its existing account base and from continuing efforts for a more competitive cost structure, it said.
Fort Smith, Arkansas-based Arkansas Best earned $5.5 million, or 20 cents per share, compared with a loss of $7.4 million, or 30 cents per share, a year ago.
Revenue rose 21 percent to $498.6 million.
Analysts on average had expected earnings of 5 cents per share, on revenue of $487.7 million, according to Thomson Reuters I/B/E/S.
Revenue at the company's largest segment ABF Freight System rose 21 percent to $458.5 million.
Arkansas Best and its rivals Con-way Inc , YRC Worldwide Inc and FedEx Corp's FedEx Freight business, had been cutting down prices in the previous quarters to win business as demand for their transportation services declined. (Reuters)