Grupo TMM Reports 4Q, Full-Year 2005 Results

Wednesday, March 01, 2006
Grupo TMM, S.A. reported earnings of $0.41 per share for the fourth quarter of 2005 compared to a loss of $1.62 per share a year ago, and earnings of $3.02 per share for the full year of 2005 compared to a loss of $1.80 per share in the same period of last year. TMM reported the following results for the fourth quarter: Revenue of $88.3 million, up 30.2 percent from $67.8 million the previous year; Operating income of $2.8 million, up from an operating loss of $0.1 million a year ago; Operating margin of 3.2 percent, up 3.3 percentage points from the previous year; Net income of $23.6 million compared to a net loss after discontinuing operations of $92.3 million the previous year. Net income in the fourth quarter of 2005 included a loss resulting from post-sale adjustments on the sale of the Company's interest in Grupo TFM to Kansas City Southern of $5.6 million, net of income taxes. TMM reported the following results for the full year: Revenue of $306.6 million, up 22.2 percent from $251.0 million the previous year; Operating income of $5.1 million, up from $3.4 million a year ago; Operating margin of 1.7 percent, down 0.3 percentage points from the previous year; Net income after discontinuing operations of $171.8 million, up from a net loss after discontinuing operations of $102.5 million the previous year. Net income after discontinuing operations for the full year of 2005 included a gain on the sale of the Company's interest in Grupo TFM to Kansas City Southern of $198.0 million, net of income taxes. Net financial expenses of $19.2 million were recorded in the fourth quarter of 2005 compared $39.1 million incurred in the fourth quarter of 2004.

Maritime Today


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

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

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

News

“Twiggy” Baker Wins BWT Puerto Escondido Challenge

Grant “Twiggy” Baker (ZAF) claimed victory today at the Puerto Escondido Challenge, besting a field of 24 of the world’s best big wave surfers in towering 20-to-35

Winners of International Seafarers' Welfare Awards

The winners of ISWAN's International Seafarers' Welfare Awards 2016 were announced on 24th June at a high-profile ceremony held in Manila, the Philippines. The

Blue Angels Resume Schedule

The U.S. Navy Blue Angels will return to its 2016 demonstration schedule July 2-4 in Traverse City, Mich., Commander, Naval Air Forces announced. The Blue Angels temporarily stood down,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Port Authority Ship Electronics Ship Repair 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: 0.1050 sec (10 req/sec)