Trailer Bridge Reports 3Q Financial Results

Wednesday, November 14, 2007
Trailer Bridge, Inc. (NASDAQ Global Market: TRBR) reported financial results for the third quarter ended September 30, 2007, summarized by revenue of $28.2m, an operating ratio (operating expenses/revenue) of 90.2% and net income of $0.4m, or $0.03 per share. The Company's third quarter results were negatively impacted by the startup of the Company's new service, which is estimated to have incrementally reduced net income by $0.9m during the third quarter, largely through the charter and fuel costs associated with the tug for the new service. Total revenue for the three months ended September 30, 2007 was $28.2m, a decrease of 2.4% compared to the $28.9m reported in the third quarter of 2006 and a decrease of 4.5% sequentially compared to the second quarter of 2007. During the third quarter southbound container volume declined 0.8% and average revenue per load for containers moved southbound increased 1.2% from the year earlier period. The Company's southbound deployed vessel capacity utilization during the third quarter was 77.3% and northbound it was 22.8%, compared to 86.9% and 28.0%, respectively, during the third quarter of 2006. Capacity utilization in the most recent third quarter period was based on the deployment in August 2007 of a fifth vessel in a new service including both Puerto Rico and the Dominican Republic. As a result, capacity increased 14.2% southbound and 12.2% northbound compared to the year earlier quarter. Trailer Bridge reported operating income of $2.8m in the third quarter of 2007, a decrease of 38.5% compared with operating income of $4.5m in the third quarter of 2006. The Company reported net income of $0.4m, or $0.03 per share, for the third quarter of 2007, a decrease of 81.2% compared to net income of $1.9m, or $0.16 per share, in the year earlier period.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Shell's Arctic Return Faces Hurdle at Seattle Port

Royal Dutch Shell's quest to return to Arctic drilling for the first time in three years could face delays after Seattle ruled that the city's port must apply for

Matson Q1 Results Show Improved Performance

Matson, Inc. today reported net income of $25 million, or $0.57 per diluted share for the quarter ended March 31, 2015. Net income for the quarter ended March 31, 2014 was $3.

Willard Adds Sales Manager for Gulf Coast, Florida

Willard Marine, Inc. has hired Jimmy Sorenson as regional sales manager for the Gulf Coast and Florida.   Sorenson served 11 years with the U.S. Coast Guard in

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pod Propulsion Ship Electronics Ship Repair 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: 0.1909 sec (5 req/sec)