ArcBest reported first quarter 2018 revenue of $700 million compared with first quarter 2017 revenue of $651.1 million.

First quarter 2018 operating income was $12.7 million compared to an operating loss of $9.9 million last year. Net income was $10 million, or 37 cents diluted share compared to a first quarter 2017 net loss of $7.4 million, or 29 cents per diluted share.

“Due to the lower corporate tax rate under the Tax Reform Act, first quarter 2018 net income reflects the impact of a $2.6 million reduction of income tax liabilities related to deferred income taxes established under GAAP (generally accepted accounting principles),” a news release states. “While GAAP requires the recognition of the Tax Reform Act impact on deferred taxes, the realization of those benefits is spread over many future years.”

Excluding certain items in both periods, as identified in the attached reconciliation tables, non-GAAP net income was $7.8 million, or 29 cents per diluted share, in first quarter 2018 compared to a first quarter 2017 net loss of $5.9 million, or 22 cents per diluted share. On a non-GAAP basis, operating income was $13.1 million in first quarter 2018 compared to a first quarter 2017 operating loss of $8.3 million.

“Strong market demand for our supply chain solutions and purposeful yield management contributed to our positive first quarter results,” Judy McReynolds, chairman/president/CEO of ArcBest, says in the release. ”We are pleased that customers are finding value in our enhanced market approach and are utilizing us as a trusted partner for more of their logistics needs.”