NNS First Quarter EPS UP

Thursday, May 11, 2000
Newport News Shipbuilding (NNS) reported net earnings of $21 million, or $.63 diluted share, for the first quarter of 2000. Earnings before interest and taxes (EBIT) for the quarter were $47 million, up from EBIT of $44 million in last year's first quarter. The company reported first quarter revenues of $469 million as compared to last year's figures of $430 million during the same period. This growth in revenue was attributable to gains in the construction and engineering segments. Construction revenues improved $25 million to $206 million as a result of advance planning work on the next aircraft carrier (CVN 77), as well as more activity on the Virginia-class submarine program. NNS finished a nine-month competition for the selection of the Warfare Systems Integrator for CVN 77 this past January. The expansion of the prime contractor role, which includes management of this process - previously performed by the Navy - the company will add approximately $500 million to the value of the construction contract.
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

China Passes New Pollution Law, Will Cap Coal Consumption

Legislators have approved amendments to China's 15-year-old air pollution law that grant the state new powers to punish offenders and create a legal framework to cap coal consumption,

Marad Celebrates Deployment of Maritime Fuel Cell Project

The U.S. Department of Transportation’s Maritime Administration (MARAD) today celebrated the launch of field trials for the first prototype hydrogen fuel cell

Gazprom, OMV Meet on Establishing Nord Stream JV

At a Meeting held at the Gazprom headquarters between Alexey Miller, Chairman of the Company's Management Committee and Rainer Seele, Chairman of the Executive Board of OMV,

Bulk Carrier Trends

MES Delivers Bulk Carrier STH Athens

Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 60,000 dwt type bulk carrier M.V. STH Athens (MES Hull No. 1898) at its Chiba Works on August 27,

Break Bulk in Rotterdam on the Way Up

The opening of a new break bulk terminal is one of the many developments and investments in the break bulk sector in the port of Rotterdam; a sector that has

Collaboration Helps Save 2 from Sinking Yacht

The U.S. Coast Guard, the Alpena Sheriff's Department and several good Samaritans are assisting two men aboard a 42-foot sailboat that began taking on water early

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Ship Simulators 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: 0.1365 sec (7 req/sec)