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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

This Day In Naval History: May 3

1777 - During the American Revolution, the Continental lugger Surprise, led by Capt. Gustavus conyngham, captures the British mail packet Prince of Orange and the brig Joseph in the North Sea.

GE Gas Turbines for Japan's New Warship

GE's Marine Solutions announced it will provide IHI, Tokyo, Japan, with two LM2500 aeroderivative marine gas turbines for the Japan Maritime Self Defense Force's (JMSDF) new 8,

BAE Systems Bags USN Award for Submarine Propulsors

BAE Systems has received a $72 million contract from the U.S. Navy to produce and deliver propulsor systems for Block IV Virginia-class (SSN 774) submarines. The

Finance

Pirates Switch to Kidnapping Crew as Oil Fetches Less

Pirate gangs in West Africa are switching to kidnapping sailors and demanding ransom rather than stealing oil cargoes as low oil prices have made crude harder to sell and less profitable,

Baltic Index Down for Third Straight Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday for the third straight session, as demand for bigger vessels weakened.

Kongsberg, DNV GL Partner to Reduce Training Costs

Kongsberg Maritime has entered a partnership with class society DNV GL to issue Product Certificates for Maritime Simulator Systems required by maritime training

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.0782 sec (13 req/sec)