Volvo Penta Sales Soar During 2Q 2002

Monday, April 22, 2002
Volvo Penta's sales continued to increase during the first quarter of 2002. Total sales amounted to slightly under one million dollars, which was an increase of 13 percent compared with the year-earlier period. Volvo Penta thus achieved the best sales results ever in the company's history.

In releasing its financial report on operations for the first quarter 2002, it shows that Volvo Penta´s successes continue, due to strong increases within all three of the companies business segments: Marine Leisure, Marine Commercial and Industry.

Within Marine Leisure, Volvo Penta noted continued sales increases from previously high levels in Europe. The greatest increase, however, was attributable to the strong improvement in North America.

Volvo Penta also noted better results with respect to operating income during the first quarter. Despite this, Volvo Penta reported lower earnings than during the corresponding period last year, due to changes in accounting principles for the Volvo Group. The reported operating income amounted to $14 million, compared with $16.1 million during the preceding year.

The Volvo Group´s total net sales during the first quarter of 2002 amounted to $8 million compared to $4.2 million the correspondent period the previous year.

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Coast Guard Academy Cadet to Receive Fulbright Scholarship

Stephen Horvath, a first class cadet at the U.S. Coast Guard Academy, was recently granted a two-year Fulbright Scholarship to study renewable energy technologies

Ecochlor Presents BWTS Case Study at CMA

Ballast water treatment technology developer Ecochlor Inc. presented a project case study yesterday at CMA Shipping 2015 in Stamford, Conn. The case study covered

Golden Ocean and Knightsbridge Complete Merger

The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company,

Finance

Golden Ocean and Knightsbridge Complete Merger

The merger between Knightsbridge Shipping Limited and Golden Ocean Group Limited was approved today at special meetings of both companies' shareholders.      The new company,

Panama Canal Sets Sight on Another Expansion

As it enters the final stretch of a massive expansion, the Panama Canal Authority is setting its sights on an even more ambitious project worth up to $17 billion

Baltic Sea Freight Index Flat on Muted Vessel Activity

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, remained steady on Thursday due to a muted vessel activity.

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1655 sec (6 req/sec)