EXHIBIT 11
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
ARKANSAS BEST CORPORATION
Three Months Ended Nine Months Ended
September 30 September 30
1994 1993 1994 1993
(Thousands, except per share data)
PRIMARY:
Average shares
outstanding 19,201 19,164 19,199 19,116
Net effect of dilutive
stock options --
Based on the treasury
stock method using
average market price 105 - 106 46
---------- ---------- ---------- ----------
Average common shares
outstanding 19,306 19,164 19,305 19,162
========== ========== ========== ==========
Income before extra-
ordinary item $ 9,201 $ 8,754 $ 11,368 $ 15,347
Less: Preferred stock
dividend 1,075 1,075 3,224 2,830
---------- ---------- ---------- ----------
8,126 7,679 8,144 12,517
Extraordinary item:
Loss on extinguishment
of debt - - - (329)
---------- ---------- ---------- ----------
Net income (loss)
available for common $ 8,126 $ 7,679 $ 8,144 $ 12,188
========== ========== ========== ==========
Per common and common
equivalent share:
Income (loss) before
extraordinary item $ 0.42 $ 0.40 $ 0.42 $ 0.65
Extraordinary item:
Loss on extinguish-
ment of debt - - - (0.01)
---------- ---------- ---------- ----------
Net income (loss)
per common share $ 0.42 $ 0.40 $ 0.42 $ 0.64
========== ========== ========== ==========
Three Months Ended Nine Months Ended
September 30 September 30
1994 1993 1994 1993
(Thousands, except per share data)
FULLY-DILUTED:
Average shares
outstanding 19,201 19,164 19,199 19,116
Net effect of dilutive
stock options --
Based on the treasury
stock method using
ending market price 140 18 106 46
Assumed conversion of
preferred stock 3,797 3,797 - -
---------- ---------- ---------- ----------
Average common shares
outstanding 23,138 22,972 19,305 19,162
========== ========== ========== ==========
Income before extra-
ordinary item $ 9,201 $ 8,754 $ 11,368 $ 15,347
Less: Preferred stock
dividend - - 3,224 2,830
---------- ---------- ---------- ----------
9,201 8,754 8,144 12,517
Extraordinary item:
Loss on extinguishment
of debt - - - (329)
---------- ---------- ---------- ----------
Net income (loss)
available for common $ 9,201 $ 8,754 $ 8,144 $ 12,188
========== ========== ========== ==========
Per common and common
equivalent share:
Income (loss) before
extraordinary item $ 0.40 $ 0.38 $ 0.42 $ 0.65
Extraordinary item:
Loss on extinguish-
ment of debt - - - (0.01)
---------- ---------- ---------- ----------
Net income (loss)
per common share $ 0.40 $ 0.38 $ 0.42 $ 0.64
========== ========== ========== ==========