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Net Income

General Maritime Corp. Announces 3Q Results

General Maritime Corporation reported its financial results for the three and nine months ended September 30, 2006. Financial Review: 2006 Third Quarter The company had net income of $24.0m, or $0.78 basic and $0.76 diluted earnings per share, for the three months ended September 30, 2006 compared to net income of $7.2 million, or $0.19 basic and $0.19 diluted earnings per share, for the three months ended September 30, 2005. The increase in net income was principally the result of higher voyage revenues attributable to a generally higher rate environment in the third quarter of 2006 compared to the prior year. Included in net income of $24.0m are certain non-recurring items including a reduction in gain on sale of vessels of $0.5 million and a reduction in net voyage revenue of $0.8 million resulting from the final settlement of customer claims relating to time charter contracts of the Company's formerly owned OBO vessels. Net voyage revenue, which is gross voyage revenues minus voyage expenses unique to a specific voyage (including port, canal and fuel costs), decreased 26.9% to $55.9 million for the three months ended September 30, 2006 compared to $76.5 million for the three months ended September 30, 2005. EBITDA for the three months ended September 30, 2006 was $34.0 million compared to $42.4 million for the three months ended September 30, 2005 (please see below for a reconciliation of EBITDA to net income). Net cash provided by operating activities was $15


Stolt Offshore Restates Second Quarter Earnings

Stolt Offshore S.A. has restated its second quarter and six-month results as a result of two accounting adjustments. The adjustments have a positive impact on the Company's net income of $1.4 million. The net income for the quarter ended May 31, 2002 is now $4.8 million, or $0.06 per share, on net operating revenue of $333.4 million. For the six-month period ended May 31, 2002, the Company now reports a net profit of $5.1 million, or $0.06 per share,


Hornbeck Announces Record 2005 Results

Hornbeck Offshore reported that fourth quarter revenues increased $19.3 million, or 51.1%, to $57.1 million compared to $37.8 million for the fourth quarter of 2004. Operating income was $24.9 million, or 43.6% of revenues, for the fourth quarter of 2005 compared to $10.2 million, or 27.0% of revenues, for the prior-year quarter. These record operating results were primarily driven by continued full practical utilization of the Company's offshore supply vessel (OSV) fleet in the U.S


W&T Offshore Reports 3Q Results

W&T Offshore, Inc. (NYSE: WTI) announced its financial and operational results recently. Net income for the third quarter of 2007 was $36.3m, or $0.48 per diluted share, on revenue of $255.2m, compared to net income for the same quarter in 2006 of $66.7m, or $0.91 per diluted share. Net income for the third quarter of 2007 reflects the impact of a $6.4m unrealized derivative loss ($4.2m after-tax), or $0.05 per diluted share


Diamond Offshore Announces Third Quarter 2001 Earnings

Diamond Offshore Drilling reported net income for the third quarter of 2001 of $53.4 million, or $0.38 per share on a diluted basis, compared to net income for the prior year quarter of $10.5 million, or $0.08 per share on a diluted basis. Revenues for the third quarter of 2001 were $230.6 million compared to revenues of $157.3 million for the third quarter of 2000. For the nine months ended Sept. 30, 2001, the Company reported net income before extraordinary items of $141.7 million, or $1


Teekay Tankers Q4 & Year End Results

Teekay Tankers Ltd. (NYSE:TNK) - Highlights ·         Declared a cash dividend of $0.22 per share for the quarter ended December 31, 2010. ·         Reported fourth quarter adjusted net income of $2.6 million, or $0.05 per share (excluding specific items which increased GAAP net income by $5.2 million, or $0.10 per share). ·         Over 60 percent of fourth quarter revenue days earned average fixed


GlobalSantaFe Announces 3Q Earnings

Worldwide oil and gas drilling contractor GlobalSantaFe Corp. reported net income for the third quarter ended September 30, 2003, of $15.1 million, or $0.06 per diluted share, on revenues of $458.1 million, as compared to net income of $75.0 million, or $0.32 per diluted share, on revenues of $514.4 million for the same quarter in 2002. For the nine months ended September 30, 2003, GlobalSantaFe reported net income of $104.9 million, or $0.45 per diluted share, on revenues of $1,408


Halliburton Announces 1Q Results

Halliburton announced that net income in the first quarter of 2006 was $488m, or $0.91 per diluted share, compared to net income of $365m, or $0.72 per diluted share, in the first quarter of 2005. Net income in the first quarter of 2006 included income from discontinued operations of $7m after tax, or $0.01 per diluted share, primarily related to the operations of KBR's Production Services group, which is expected to be sold in the second quarter of 2006 with a pretax gain of approximately


Excel Maritime Reports Q3 Results

Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportation services for dry bulk cargoes, announced its operating and financial results for the third quarter and nine-month period ended September 30, 2009. Third Quarter 2009 Highlights: Revenue from operations for the quarter amounted to $174.4 million as compared to $231.6 million in the third quarter of 2008.


Dril-Quip Q4 & Year End Results

Dril-Quip, Inc. (NYSE:DRQ) announced net income of $28.7 million, or $0.72 per diluted share for the three months ended December 31, 2009, versus net income of $25.0 million, or $0.64 per diluted share for the fourth quarter of 2008. Total revenues increased to $141.3 million for the quarter ended December 31, 2009 from $135.5 million for the same period in 2008. The increase in revenues resulted from increases of $15.6 million in subsea equipment revenues and $0


Royal Caribbean's Revenue up 5.6%

Ovation of the Seas (Photo: Royal Caribbean)

Royal Caribbean Cruises Ltd reported a 5.6 percent rise in quarterly revenue, helped by higher passenger ticket revenue and onboard spending, sending the company's shares up 4 percent in premarket trading. Royal Caribbean also raised its full-year earnings forecast to $6.15-$6


Cargotec Logs Higher Profits

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Cargotec's January-March 2016 interim report: Profitability improved according to target   * Strong order intake in Kalmar and Hiab   * MacGregor profitability satisfactory considering current market situation   * Strategy execution proceeding as planned  


Keppel's Profit Nosedives

Photo: Keppel Corp

 Keppel Corp., the world’s largest builder of oil rigs, posted a 41 per cent fall in quarterly profit, its fourth straight decline, as offshore and marine segment revenue slumped because of the deferment of some projects and suspension of contracts related to Sete Brasil.  


Conrad Earnings Down but Backlog Grows

Conrad Shipyard performs repairs and conversions at each of its five shipyards. Photo: Conrad

Conrad Industries, Inc. (OTC Pink: CNRD) announced its fourth quarter and twelve months 2015 results and backlog. For the quarter ended December 31, 2015, Conrad had net income of $3.4 million and earnings per diluted share of $0.63 compared to net income of $5


ICTSI Income Drops 68%

Photo ICTSI

        §  Throughput grew 5% to 7.8 million TEUs         §  Revenues down 1% to US$1.051 billion         §  EBITDA improved 2% to US$450.0 million  


OSG Reports $284m Profit In 2015

Photo: Overseas Shipholding Group, Inc.

 Overseas Shipholding Group, a provider of oceangoing energy transportation services, reported results for the fourth quarter and full year 2015.   The company reported net income of $9.3 million in its fourth quarter. The crude oil and petroleum transportation company posted revenue


Diana Containerships Reports 4Q Loss

Hanjin Malta. Photo: Diana Containerships Inc.

 The Athens, Greece-based  global shipping company specializing in the ownership of containerships Diana Containerships Inc. has reported a loss of $8.8 million in its fourth quarter of 2015, compared to net income of $0.9 million for the respective period of 2014.   


Diana Containerships Posts 2015 Net Loss

Hanjin Malta (Photo: Diana Containerships)

Diana Containerships Inc. reported a net loss of $8.8 million for the fourth quarter of 2015, compared to net income of $0.9 million for the respective period of 2014. According to the shipping company, the loss was mainly the result of $6


Transocean 4Q Revenue Up

Henry Goodrich Courtesy Transocean

Transocean Ltd. Reports Fourth Quarter And Full Year 2015 Results:- Revenues were $1.85 billion, up from $1.61 billion in the third quarter of 2015; Operating and maintenance expenses were $794 million, down from $880 million in the prior period; Adjusted net income was $615 million, $1


Matson Declares 4Q EPS of $0.60, FY EPS $2.34

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Highlights -   * Hawaii container volume up 17.8% YOY in 4Q15 and up 8.1% in Full Year 2015   * 2015 Net Income of $103.0 million versus $70.8 million in 2014, up 45.5% YOY   * 4Q15 Diluted EPS of $0.60, negatively impacted by Horizon Acquisition SG&A costs of $0


Intelsat Announces Q4 and 2015 Results

Intelsat S.A., a provider of satellite services, has announced preliminary financial results for the three months and full year ended December 31, 2015.   Intelsat reported preliminary total revenue of $571.3 million for the three months ended December 31, 2015.  


Teekay Tankers Misses 4Q Profit forecasts

Teekay Tankers vessel in Port Said Egypt  Courtesy Teekay Tankers

Teekay Tankers Ltd. reported adjusted net income attributable to its shareholders of $48.5 million, or $0.31 per share, for the quarter ended December 31, 2015, compared to $18.6 million, or $0.21 per share, for the same period in the prior year.


Danaos' Performance Better

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Danaos Corporation one of the world's largest independent owners of containerships, today reported unaudited results for the fourth quarter and the year ended December 31, 2015. Highlights for the Fourth Quarter and Year Ended December 31, 2015:


Royal Caribbean Posts 4Q Profit

Photo: Royal Caribbean Cruises Ltd

 Royal Caribbean Cruises Ltd reported 2015 results and provided guidance for 2016. Continuing on its Double-Double trajectory, the company’s adjusted earnings for 2015 were $4.83 per share – up 42% over 2014, and are expected to further increase to $5.90 – $6.10 in 2016.


Dry Bulker Business Down, Says MOL

Dry Bulker. By Mitsui O.S.K. Lines

 In the dry bulker business, the market is deteriorating to a new record low due to the imbalance of fleet supply and demand, along with stagnant cargo trade resulting from the slowdown in China’s economy since last fall, says Mitsui O.S.K. Lines, Ltd.  






 
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