ACL Announces 2Q Results

Wednesday, July 25, 2007
American Commercial Lines Inc. (ACL) announced results for the second quarter ended June 30, 2007. Revenues for the quarter were $261.2 million, a 22.9% increase compared with $212.6 million for the second quarter of 2006. Net income for the quarter was $5.9 million or $0.09 per diluted share, compared to net income of $17.7 million or $0.28 per diluted share for the second quarter of 2006. Results for the quarter ended June 30, 2007 included after tax debt retirement expenses of $1.4 million on the replacement of the Company's previous revolving credit facility which reduced earnings per share by $0.02.

For the six months ended June 30, 2007 revenues were $489.5 million, a 19.4% increase compared with $410.1 million for the first six months of 2006. Net income for the six months was $4.8 million or $0.08 per diluted share, compared to net income of $28.9 million or $0.46 per diluted share for the first six months of 2006. Results for the first six months of 2007 included after tax debt retirement expenses totaling $14.9 million on the retirement of the Company's 9.5% senior notes and the Company's previous revolving credit facility which reduced earnings per share by $0.24.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

US Navy CNO: Photo of the Day

Chief of Naval Operations (CNO) Adm. Jonathan Greenert receives a system update brief in the combat information center aboard the Arleigh Burke-class guided-missile

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

Historic Mexican Ship Visits Port of LA

ARM Cuauhtémoc, a Mexican Navy barque, also known as the Ambassador and Gentleman of the Seas, will sail into the Port of Los Angeles next week and offer free public

Finance

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

Clean Marine Wins New Contract

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention

Moore Stephens Expects Vessel Operating Cost to Rise

Vessel operating costs are expected to rise by almost three per cent in both 2014 and 2015, according to a new survey by international accountant and shipping consultant Moore Stephens.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pipelines Port Authority Salvage Shipbuilding / Vessel Construction Sonar
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: 0.1128 sec (9 req/sec)