Arkansas Best Corp swung to a quarterly profit that beat market estimates on healthy tonnage levels and increased account pricing, snapping its losing streak of 10 consecutive quarters.

"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)