-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Gm0a7liBTOtF37g9OhSkCKFhD+K3nIFxXmwS3ukGFjZEPOSdH1Bu9Nu9nz9aKaol VVGqDrz0+iMaQZ19LYTAFQ== 0000950134-02-010183.txt : 20020815 0000950134-02-010183.hdr.sgml : 20020815 20020815104218 ACCESSION NUMBER: 0000950134-02-010183 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20020813 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20020815 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARKANSAS BEST CORP /DE/ CENTRAL INDEX KEY: 0000894405 STANDARD INDUSTRIAL CLASSIFICATION: TRUCKING (NO LOCAL) [4213] IRS NUMBER: 710673405 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-19969 FILM NUMBER: 02739091 BUSINESS ADDRESS: STREET 1: 3801 OLD GREENWOOD RD CITY: FORT SMITH STATE: AR ZIP: 72903 BUSINESS PHONE: 5017856000 MAIL ADDRESS: STREET 1: P O BOX 48 CITY: FORT SMITH STATE: AR ZIP: 72902 8-K 1 d99266e8vk.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549-1004 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): August 15, 2002 (August 13, 2002) ARKANSAS BEST CORPORATION ------------------------- (Exact name of registrant as specified in its charter) Delaware 0-19969 71-0673405 - ---------------------------- --------------------- ------------------------ (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation or organization)
3801 Old Greenwood Road Fort Smith, Arkansas 72903 (479) 785-6000 - -------------------------------------------------------------------------------- (Address, including zip code, and telephone number, including area code, of the registrant's principal executive offices) ITEM 5. OTHER EVENTS. On August 13, 2002, Arkansas Best Corporation issued a press release with respect to a favorable settlement reached with the Internal Revenue Service. A copy of the press release is attached as an exhibit to this Report on Form 8-K. ITEM 7. EXHIBITS. 99.1 Press release of Arkansas Best Corporation dated August 13, 2002. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ARKANSAS BEST CORPORATION ------------------------- (Registrant) Date: August 15, 2002 /s/ David E. Loeffler ----------------------- ------------------------------------ David E. Loeffler, Vice President - Chief Financial Officer and Treasurer INDEX TO EXHIBITS
EXHIBIT NUMBER DESCRIPTION ------- ----------- 99.1 Press release of Arkansas Best Corporation dated August 13, 2002.
EX-99.1 3 d99266exv99w1.txt PRESS RELEASE EXHIBIT 99.1 FOR IMMEDIATE RELEASE ARKANSAS BEST CORPORATION ANNOUNCES ITS SETTLEMENT WITH THE INTERNAL REVENUE SERVICE (Fort Smith, Arkansas, August 13, 2002) -- Arkansas Best Corporation (NASDAQ/NMS - - "ABFS") ("the Company") announced today that it had reached a favorable settlement with the Internal Revenue Service (IRS) of all outstanding issues relating to the Company's federal income tax returns for the years 1990 through 1994. As a result of the settlement, the Company will reduce reserves for interest by approximately $5.2 million to reflect the reduction in the Company's liability for future cash payments of interest. The primary issue raised by the IRS related to the timing of the deductibility of contributions made to multiemployer pension plans by ABF Freight System, Inc.(R), the Company's principal operating subsidiary. The effect of this change will be recorded in the third quarter of 2002 and will result in an increase in the Company's net income per diluted common share of approximately $0.12 cents. The tax assessments were previously proposed by the IRS for the years involved. Reserves for the proposed assessments were recorded in prior years as information became available regarding the IRS position on the issues involved. Substantially all interest and taxes relating to the years involved were paid in 2001 as an advance payment to stop the continuing accrual of interest. The net current cash impact of the settlement will not be significant. Contact: Mr. David E. Loeffler, Vice President, Chief Financial Officer and Treasurer Telephone: (479) 785-6157 Mr. David Humphrey, Director of Investor Relations Telephone: (479) 785-6200 END OF RELEASE -----END PRIVACY-ENHANCED MESSAGE-----