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

Navy

Contract Awarded for US Aircraft Carrier Dismantling

The U.S. Navy awarded a contract, Dec. 22, for the towing and dismantling of the decommissioned aircraft carrier Ranger (CV 61) to International Shipbreaking, Ltd.

Young Endeavour Sets Sail on World Voyage

The Royal Australian Navy operated Sail Training Ship Young Endeavour set sail from Sydney today for a 12-month voyage, circumnavigating the globe. Parliamentary

Damen Outfitting First of Nine Bahamas Patrol Boats

The first of nine Damen Stan Patrol 3007s ordered by the Royal Bahamas Defense Force has arrived at Damen Shipyards Gorinchem in the Netherlands for outfitting.

Finance

Diana Shipping Announces $53.5m Drawdown

Diana Shipping Inc. announces signing and drawdown of a $53.5 million term loan facility with BNP Paribas; announces time charter contract for m/v Nirefs with Glencore   Diana Shipping Inc.

Maersk to Continue Russian Operations

Denmark's A.P. Moller-Maersk said its four subsidiaries with activities in Russia continue to operate as planned despite the recent sharp drop in oil price and the rouble's collapse.

NSRP Awards $11m for R&D Project Portfolio

The Executive Control Board of the National Shipbuilding Research Program (NSRP) has selected a new round of research and development projects for award, as part

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Ship Repair
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: 0.1084 sec (9 req/sec)