Horizon Lines 1Q Profit Rises

Thursday, April 26, 2007
Horizon Lines Inc., which operates a fleet of containerships and a logistics business, said Thursday its first-quarter profit rose sharply, boosted by a tax gain and rate increases that helped offset weaker freight volumes. Quarterly earnings increased to $7.1 million, or 21 cents per share, from $2.4 million, or 7 cents per share during the same period last year. Excluding tax-related gains from both periods, the company earned $4.5 million, or 13 cents per share in the latest quarter, and $3.6 million, or 11 cents per share a year ago. Revenue fell modestly to $273.7 million from $274.9 million. Analysts expected revenue of $286.2 million. The company blamed its revenue shortfall on a 6.5 percent slide in freight volumes, due to soft market conditions in Puerto Rico and an extended winter in Alaska. Horizon Lines added that a mix of higher-margin cargo, general rate increases and fuel recoveries nearly offset the volume softness.
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navy

New Defense Cooperation with India

Today, on his historic visit to India, President Obama and Prime Minister Modi announced new, ground-breaking agreements on defense cooperation between India

India-US “New Vision” for Asia Pacific and Indian Ocean

India and the USA on Sunday released a Joint Strategic Vision statement for the Asia-Pacific and Indian Ocean region, marking the deepening strategic equation between the two nations.

USS Cole Conducts Change of Command

The Arleigh Burke-class guided-missile destroyer USS Cole (DDG 67) conducted a change of command ceremony during a scheduled port visit in Piraeus, Greece, Jan.

Finance

BP Freezes Pay in 2015 to Cut Costs

BP is freezing base pay across the group this year, the latest in a series of steps by oil majors to cut costs in response to sinking oil prices.   Over the past year,

Study Examines Impacts of Inland Waterway Investment

The National Waterways Foundation (NWF) has commissioned and released a two-year study to examine the U.S. inland waterways’ national economic return on investment

Gypsy Moth Clause Takes Balanced Approach to Risk

A new BIMCO clause provides a simple, practical and commercial solution focusing on the basic obligations and responsibilities of owners and charterers when dealing with the Asian Gypsy Moth (AGM).

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Salvage Ship Repair Ship Simulators Sonar 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: 1.0972 sec (1 req/sec)