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 Today


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

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

Finance

Oil Price Bottoming Depends on Global Growth - IEA chief

International Energy Agency (IEA) chief Fatih Birol said on Sunday that oil prices may have bottomed but that would depend on global economic growth. Asked if oil prices had reached a bottom,

ExxonMobil 1Q Profits Plunge 63%

Highlights   * Earnings of $1.8 billion decreased 63 percent from the first quarter of 2015.   * Earnings per share were $0.43 assuming dilution.   * Cash

Shipping, Key Ingredient of EU’s Africa Agenda

The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Navigation Offshore Oil Pipelines Salvage Ship Electronics 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: 0.0754 sec (13 req/sec)