Sea Containers Reports 3Q Results

Monday, November 18, 2002
Sea Containers Ltd. passenger and freight transport operator, marine container lessor and leisure industry investor, today announced its results for the quarter and nine months ended September 30, 2002. For the quarter, net income was $17.9 million ($0.84 per common share diluted) on revenue of $547 million, compared with net income of $6.6 million ($0.35 per common share diluted) on revenue of $356 million in the year earlier period. Net income was up 173 percent, diluted net earnings per common share were up 140% and revenue was up 54 percent. For the nine months ended September 30, 2002 net income was $27.9 million ($1.40 per common share diluted) on revenue of $1.23 billion, compared with net income of $13.6 million ($0.73 per common share diluted) on revenue of $974 million in the year earlier period. Net income was up 105 percent, diluted earnings per common share were up 92 percent and revenue was up 26 percent.

People & Company News

MN100: Viega LLC

The Company: Viega was founded in Germany in 1899. By 1901, the company began to manufacture home plumbing products, growing and expanding internationally. In 1999,

Abu Dhabi Ship Building Commissions First Floating Dock

Abu Dhabi Ship Building PJSC (ADSB) has commissioned its first floating drydock located in Mina Zayed as the company looks to expand its commercial service offering.

MN100: Glosten

The Company: Glosten is an employee-owned full-service consulting firm of naval architects, marine engineers, electrical engineers, and ocean engineers. Founded in 1958,

Finance

OSV firm Farstad Continues Restructuring Talks

Supply firm Farstad Shipping's CEO Karl Johan Bakken repeats is in stand-still agreement with lenders until Oct. 1   Notable disclosures: * CEO says is talking

Banks Halt Support for Hanjin

A bankruptcy would be biggest ever for a container shipper. Hanjin Shipping Co's banks are halting support for the South Korean company, its lead creditor said,

China Cosco Sinks into Red

Dragged by lackluster freight rates in the maritime transport market during the first half of 2016, China Cosco Holdings logged a 7.2 billion yuan ($1.07 billion) net loss for the January-June half,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0932 sec (11 req/sec)