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 October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Servowatch IPMS Completes FATs for UK Navy

The fully integrated platform management system Servowatch designed and built for three new offshore patrol vessels for the U.K. Royal Navy has completed BAE Systems’ Factory Acceptance Tests (FAT).

Steel Cut on UK Navy’s Newest Warship

Construction has begun on a new warship for the U.K. Royal Navy as the Minister of State for Defense Procurement, Philip Dunne MP cut the first steel in Glasgow today.

U.S. Will Dispatch Warships to South China Sea

The United States is expected to sail warships close to China's artificial islands in the South China Sea within the next two weeks to signal it does not recognize


Traders Eye Floating Diesel Storage in Atlantic

Europe diesel stocks reach fresh record high; huge imports from Asia, Middle East weigh on supplies. Oil traders are preparing to store diesel in giant tankers

Shell Want Shipper Guarantees on Nigerian Crude Exports

Royal Dutch Shell has asked ship owners exporting its Nigerian oil to sign a "letter of comfort" (LoC) to guarantee it is not stolen, according to an email from the company seen by Reuters.

ICCOPR Approves Updated Oil Pollution Research Plan

The Interagency Coordinating Committee on Oil Pollution Research (ICCOPR) unanimously approved the Oil Pollution Research & Technology Plan (OPRTP) for FY2015-2021

Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Shipbuilding / Vessel Construction 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: 0.1700 sec (6 req/sec)