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Saturday, December 10, 2016

ACL Announces First Quarter Results

May 7, 2008

American Commercial Lines Inc. (ACL) announced results for the first quarter ended March 31, 2008. Revenues for the quarter were $270.5 million, an 18.5% increase compared with $228.2 million for the first quarter of 2007. Net income for the quarter was $2.3 million or $0.05 per diluted share, compared to a net loss of $1.1 million or $0.02 per diluted share for the first quarter of 2007. Results for the first quarter of 2008 included an after tax benefit of $1.3 million or $0.03 per diluted share related to the decision not to withdraw from a multi-employer pension plan for certain represented employees of the Company's terminal operations. Results for the first quarter of 2007 included after tax debt retirement expenses of $13.6 million on the retirement of the Company's 9.5% senior notes which reduced earnings per share by $0.22.

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for the first quarter of 2008 were $23.0 million with an EBITDA margin of 8.5% compared to $35.3 million for the first quarter of 2007 with an EBITDA margin of 15.5%. The attachment to this press release reconciles net income to EBITDA.



 
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