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Reports Fourth

Northrop Reports 4Q Results

Northrop Grumman Corporation reported 2001 fourth quarter economic earnings of $158 million, compared with $106 million for the same period of 2000. On a per share basis, the company reported 2001 fourth quarter economic earnings of $1.55 on average diluted shares outstanding of 98.0 million, compared with economic earnings of $1.46 on average diluted shares outstanding of 72.5 million for the fourth quarter of 2000. Under Generally Accepted Accounting Principles (GAAP), the company reported fourth quarter 2001 net income of $131 million, or $1.28 per share, compared with net income from continuing operations of $144 million, or $1.99 per share, for the same period of 2000. The comparable decline reflects a substantial decrease in pension income and increases in interest expense and in the number of shares outstanding. For the quarter ended Dec. 31, 2001, sales increased to $4.3 billion compared with $2.2 billion reported for the fourth quarter of 2000. The increase is primarily due to the contributions of the three companies acquired in 2001: Litton Industries Inc., Newport News Shipbuilding and the Electronics and Information Systems group of Aerojet-General Corporation. Northrop Grumman's operating margin for the 2001 fourth quarter increased 25 percent to $314 million from $252 million for the same period last year despite a sharp drop in pension income. Pension income declined to $88 million from $128 million reported for the last three months of 2000.


Safe Bulkers Squeeze One Percent More Revenue Out of 2013

Image courtesy of Safe Bulkers

Greece's Safe Bulkers, Inc. reports Fourth Quarter & Twelve Months 2013 results and declares quarterly dividend on common stock of $0.06 per share for the fourth quarter of 2013. Summary of Results for the Twelve-Month Period Ended December 31, 2013 Net revenue for the twelve-month period ended December 31, 2013 increased by 1% to $186.7 million from $184.3 million during the same period in 2012. Net income for the twelve-month period ended December 31


Parker Drilling Reports $13M Loss

Tulsa-based Parker Drilling Company reported an unaudited loss for the fourth quarter of $13,353,000. This compares with a loss of $11,266,000 for the fourth quarter of 1998. Financial results for the fourth quarter of 1999 were improved over the third quarter loss of $14,900,000 after adjusting for non-recurring gains and losses. For the year 1999, Parker Drilling reported a loss of $37,897,000, as compared to a loss of $5,587,000 for calendar 1998


SEACOR Q4 Results

SEACOR Holdings Inc. (NYSE: CKH) announced its results for the fourth quarter of 2009. Net income attributable to SEACOR Holdings Inc. for the quarter ended December 31, 2009 was $22.2 million, or $1.04 per diluted share, on operating revenues of $476.5 million. During the fourth quarter, the Company called and settled all of its outstanding 2.875% Convertible Senior Debentures due 2024 resulting in a debt extinguishment loss of $6.1 million, net of tax, or $0.26 per diluted share


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


Stolt-Nielsen Limited Reports Results

Photo: Stolt-Nielsen

Stolt-Nielsen Limited reported unaudited results for the first quarter ended February 28, 2013.    Net profit attributable to SNL shareholders in the first quarter was $1.5 million, with revenue of $519.4 million, compared with $18.2 million, with revenue of $510.9 million, respectively, in the fourth quarter of 2012.   Highlights for the first quarter of 2013, compared with the fourth quarter of 2012, were:  


Trico Marine Reports Full Year 4Q Results

Trico Marine Services, Inc. announced a net loss for the fourth quarter ended December 31, 2001 of $884,000, on revenues of $41.7 million. This compares to net income of $1.4 million on revenues of $41.7 million, for the fourth quarter last year. For the fiscal year ended December 31, 2001, the Company reported a net loss of $6.9 million on revenues of $182.6 million which included a non-cash charge of $24.3 million, before taxes, due to the write-down of the book value of eight vessels


People & Company News: Trico Marine Reports 2002 and 4Q Results

Trico Marine Services, Inc. announced a net loss for the fourth quarter ended December 31, 2002 of $14.4 million, or $(0.40) per share (diluted), after an extraordinary item, on revenues of $35.2 million. The net loss for the 2002 fourth quarter includes an extraordinary charge of $102,000 resulting from the early extinguishment of debt and a non-cash charge of $5.2 million due to an asset write-down. This compares to a net loss of $884,000, or $(0


Carnival Reports 4Q and Year Earnings

Carnival Corporation & plc reported record net income of $353 million, or $0.43 diluted EPS, on revenues of $2.6 billion for its fourth quarter ended November 30, 2005. Net income for the fourth quarter of 2004 was $294 million, or $0.36 diluted EPS, on revenues of $2.2 billion. Net income for the year ended November 30, 2005 was $2.3 billion, or $2.70 diluted EPS, on revenues of $11.1 billion, compared to net income of $1.9 billion, or $2.24 diluted EPS, on revenues of $9


Matson Report Solid Financial Profits

Matson, Inc. a leading U.S. carrier in the Pacific, did well in Q4 2012 and the whole year; believes it can do better. Consolidated revenue for the fourth quarter 2012 was $398.3 million compared with $374.9 million reported for the fourth quarter 2011, and consolidated revenue for the full year 2012 was $1,560.0 million, compared with $1,462.6 million in 2011.   Matt Cox, Matson's President and Chief Executive Officer commented


Record Movement in Asia-US Containershipping

Image courtesy: Maersk

A recovery in the U.S. economy and greater consumer spending by the middle class has stimulated the movement of shipping containers from Asia to the U.S. returned to near-historic levels in 2014, says a report Nikkei Asian Review. Quoting data from Zepol, a U.S


Shanghai Retains Crown as Busiest Container Port

Shanghai Port (Image: SIPG)

China’s Shanghai retained its title as the world’s busiest container port for a fifth consecutive year after widening the gap with its closest rival Singapore, according to a report from Bloomberg.  While, Singapore handled 33


Keppel Q4 Profit Up; 2014 Profit Beats Street

Keppel Corp's full-year profit up 2 pct at S$1.9 bln. Singapore's Keppel Corp Ltd said fourth-quarter net profit rose 6.1 percent to S$725.9 million ($544.8 million), while its full-year profit rose 2 percent and beat analysts' consensus.


Oil Majors to Preserve Dividends Despite Oil Collapse

Oil well

  Europe's oil majors will strike a sober note in their fourth-quarter results and investors will focus on companies' plans to maintain cherished dividends and their strategies to cope with the oil prices collapse that caught many unawares.


Nansha Factory Cuts First Steel for Tanker Newbuilds

Construction begins on two 113,000 DWT product/crude oil tankers in Nansha Factory   A steel cutting ceremony was held at the Nansha Factory December 1 for the third and fourth of eight vessels of 113,000 DWT product/crude oil tankers for NAVIG8 Group registered in U.K.  


Oil Declines Amid Stronger Dollar, Crude Oversupply in U.S.

Image

  Oil prices fell Friday, tumbling as the dollar strengthened and as a supply glut in top consumer, the United States, trumped worries about falling production from Libya. The market had come under pressure from Wednesday's Energy Department report, which showed a 7


Teekay LNG Partners' Cash Distribution Up by 1.2%

Teekay

  Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended December 31, 2014, an increase of 1.2 percent over the cash distribution of $0.6918 per unit for the quarter ended September 30, 2014


Shipbuilding: Yangzijiang bags 13 New Orders

Yangzijiang Shipbuilding

China's Yangzijiang Shipbuilding has entered into 13 shipbuilding orders in the fourth quarter of 2014, of which nine were effective orders with a total contract value of US$388 million, brining total orders for 2014 to a record US$1.8 billion 


Bulk Carrier Freight Rates Predicted to Peak in 2016

Harald Lone

“A fundamental and sustainable dry bulk market recovery is expected in the second half of 2015 and throughout 2016, when the total dry bulk market balance could peak at 88%, with peaks during the fourth quarter close to 92%. Improved tonnage balance in 2015/2016 should drive up bulk rates


NAO's Quarterly Dividend Unchanged

Photo courtesy of NAO

The board of directors at Nordic American Offshore Ltd. have declared a dividend of $0.45 per common share for the fourth quarter of 2014. This is the same as for the first three quarters of 2014 for this newly established company which was stock listed on NYSE June 12, 2014


Report: Hong Kong Box Terminals Should be Moved

A study says Hong Kong will eventually have to move its container terminals out of Kwai Tsing to remain competitive.   A study by think tank SD Advocates, the Chinese University and BMT Asia Pacific says that Hong Kong needs to relocate the container terminals from Kwai Tsing to another


Polarcus Q4 Vessel Utilization Drops

Norwegian seismic explorer Polarcus' said its vessel utilisation dropped in the fourth quarter and it expected a challenging market through 2015. The firm had a combined contract and multi-client fleet utilisation of 70 percent in the fourth quarter


Matson Raises Fourth Quarter Outlook

Photo: Matson

Matson reports higher than expected 4Q14 ocean transportation operating income; preliminary full year 2015 outlook expected to be flat to modestly higher than 2014 levels    Matson, Inc. said it holds a higher operating income outlook for the fourth quarter 2014


USCG’s New Cutter Powered by GE

Hamilton enroute to commissioning (photo courtesy of HII)

GE LM2500 gas turbine-powered National Security Cutter Hamilton commissioned by United States Coast Guard    National Security Cutter Hamilton (WMSL 753) was commissioned by the United States Coast Guard (USCG) on December 6, 2014, at its home port of Charleston, S.C


US Navy Eyes Next LCS Contracts in Q1

Littoral combat ships USS Independence (LCS 2) and USS Coronado (LCS 4). (U.S. Navy photo by Keith DeVinney)

The U.S. Navy plans to award contracts before the end of the first quarter to Lockheed Martin Corp and Australia's Austal for its next three Littoral Combat Ships (LCS) as well as money to buy materials for a fourth, Navy officials said Thursday.  






 
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