Arlington Tankers Ltd. reported an increase in second quarter profit helped by a $7.3 million unrealized gain, even as revenue decreased from the prior year. The company declared a dividend for the quarter.
Second quarter net income for , Bermuda-based increased 35% to $11.52 million or $0.74 per share from $8.53 million or $0.55 per share from the same quarter a year ago.
The company recorded a gain on interest rate swap of $7.28 million in the second quarter of 2008.