EXHIBIT 11
EXHIBIT 11
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
ARKANSAS BEST CORPORATION
Year Ended December 31
1995 1994 1993
($ thousands, except
per share data)
PRIMARY:
Average shares outstanding 19,520,756 19,249,209 19,132,386
Net effect of dilutive stock
options -- Based on the
treasury stock method using
average market price - 102,587 61,196
---------- ---------- ----------
Average common shares outstanding 19,520,756 19,351,796 19,193,582
========== ========== ==========
Income before extraordinary item
and cumulative effect of
accounting change $ (32,792) $ 18,707 $ 20,972
Less: preferred stock dividend 4,298 4,298 3,904
---------- ---------- ----------
(37,090) 14,409 17,068
Extraordinary item:
Loss on extinguishments of debt - - (661)
---------- ---------- ----------
Net income (loss) available
for common shareholders $ (37,090) $ 14,409 $ 16,407
========== ========== ==========
Per common and common
equivalent share:
Income before extraordinary
item and cumulative effect
of accounting change $ (1.90) $ .74 $ .89
Extraordinary item:
Loss on extinguishments of debt - - (.04)
---------- ---------- ----------
$ (1.90) $ .74 $ .85
========== ========== ==========
<FN>
<FN1>
Fully diluted earnings per common share are not presented, as such
calculations would be anti-dilutive
</FN>