Newport News Second Quarter EPS Up

Tuesday, July 18, 2000
Newport News Shipbuilding (NNS) reported net earnings of $24 million, or $.074 per diluted share, for the second quarter of 2000. EBIT for the quarter was $54 million, up from an adjusted $47 million in last year's second quarter. Newport News posted second quarter revenues of $532 million versus $444 million the same time last year, reflecting gains in all business segments. The construction sector led the advance as revenues climbed to $227 million from $164 million. Increased construction work on the aircraft carrier Ronald Reagan and the Virginia-class submarines, combined with advanced procurement on CVN 77, accounted for higher volume. In addition, engineering revenues of $80 million reflected a $19 million gain over last year as this segment benefited from design work on a new propulsion plant for the next class of aircraft carriers.

EBIT in the quarter rose to $54 million from an adjusted $47 million in the second quarter of 1999. Volume gains across all segments and higher margins in Fleet Services drove the improvement.

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

Finance

Baltic Index Perks up on Increased Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Thursday as rates for bigger vessels rose.

Tanker Lifts One Million Barrels of Crude at Hariga

A tanker left Libya's eastern oil port of Hariga after lifting one million barrels of crude, an oil official said on Thursday. No new tanker was expected in the next few days,

Georgia Port Increases Container Traffic

The Georgia Ports Authority increased containerized cargo in March by 27.8 percent compared to the same month a year ago, for an additional 72,499 20-foot equivalent container units (TEUs).

 
 
Maritime Careers / Shipboard Positions Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction 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: 0.1210 sec (8 req/sec)