2Q Financial Results from Stratos

Thursday, July 27, 2006
Stratos Global Corp. announced financial results for the second quarter ended June 30, 2006. For the quarter, the corporation reported revenue of $139.3m, a 50 percent increase compared with the $92.7m achieved in the same quarter of 2005. This growth primarily reflected the recently completed Xantic acquisition, which was consolidated with Stratos beginning February 14, 2006. The corporation also reported a net loss of $4.1m, or $0.10 basic loss per share, for the second quarter of 2006, compared with net earnings of $400,000, or $0.01 basic earnings per share, reported for the same period last year. Results for the second quarter of 2006 were negatively impacted by $400,000, or $0.01 per share, associated with severance costs related to the integration of Xantic and by the non-cash, after-tax amortization of customer relationship intangibles of $1.9 m, or $0.05 per share, related to the Xantic and Plenexis acquisitions. Second quarter 2005 results were adversely impacted by $1.6m, or $0.04 per share, resulting from an unfavorable lower court decision and by non-cash, after-tax amortization of customer relationship intangibles of $400,000, or $0.01 per share, related to the Plenexis acquisition. Excluding these items, the corporation reported an adjusted net loss (non-GAAP measure) for the quarter of $1.8m, or $0.04 per share, compared with adjusted net earnings of $2.4m, or $0.06 per share in the second quarter a year-ago. The lower results in the second quarter of 2006 reflect higher interest expense associated with the debt financing of the Xantic acquisition.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Wärtsilä Reports Healthy Ship Power Sector in Q1 2014

In its interim financial report January to March 2014 Wärtsilä notes healthy development in ship power and services offsetting challenges in power generation markets.

No Lift for Konecranes as Q1 2014 Profit Slips

Finnish crane maker Konecranes on Thursday reported a 32-percent fall in its core quarterly operating profit amid slow demand and tight competition. January-March 2014 operating profit,

GulfMark Offshore Records Highest Ever Q1 Revenue

Houston-based GulfMark Offshore President & CEO Quintin Kneen commented on his company's first quarter 2014 financial report: "We recorded our highest first quarter revenue ever,

Maritime Security

Global Shipping Exposed to Cyber Threats

The next hacker playground: the open seas - and the oil tankers and container vessels that ship 90 percent of the goods moved around the planet. In this internet age,

CNR: Innovation Maintains US Naval Advantages

An interview with Rear Adm. Matt Klunder, U.S. Navy Chief of Naval Research What are your near term, mid-term and long term science and technology (S&T) objectives?

USS Taylor to Enter Black Sea

The U.S. Navy reported that the Oliver Hazard Perry-class frigate USS Taylor (FFG 50), homeported in Mayport, Fla., will enter the Black Sea April 22 to promote peace and stability in the region.

 
 
Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Repair Sonar 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: 0.2667 sec (4 req/sec)