Sea Containers Report 4Q Results

Thursday, February 06, 2003
Sea Containers Ltd. marine container lessor, passenger and freight transport operator and leisure industry investor, said today that it has received a number of inquiries about the recent fall in the company's common share price. James B. Sherwood, president, said that he was mystified because the company had an excellent fourth quarter in 2002 and its earnings for the year will be significantly higher than the $27.9 million ($1.40 per common share diluted) reported for the nine months ended September 30, 2002. This will represent a huge improvement over the net income of $4.5 million ($0.24 per common share diluted) reported for the full year 2001. Sherwood said that the 2002 results were currently under audit and the company would announce its results late in March as customary. Sherwood said that the fourth quarter, 2002 results were better than expected because marine container leasing showed improvement and the company's rail subsidiary, GNER, had achieved important cost savings while revenue was on target. Sherwood said that "shelf" registrations for sale of Sea Containers common shares and those of Orient-Express Hotels Ltd. owned by the company, as well as the Form 144 filing for sale of his own shares were exhausted late in 2002 and new filings have recently been made. Sherwood said in his own case he has no present intention of selling any of his shares in the company at today's distress prices.
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Offshore Driller Noble Corp Q1 Earnings Beat Forecasts

Noble Corp., a leading offshore driller, reported first-quarter net income on Wednesday of $0.99 a share, higher than consensus forecasts, as new rigs helped lift revenues.

WireCo Acquires Netherlands’ Endenburg

Company will open new crane distribution center WireCo WorldGroup Inc., the world’s leading producer and marketer of specialty steel ropes and high synthetic ropes,

Keppel Q1 Profits Dip Slightly

The Keppel Corporation released its limited unaudited results for the first quarter ending March31, 2014, reporting a 5% decrease in net profits to S$339 million compared to Q1 2013's S$357 million,

Finance

Offshore Driller Noble Corp Q1 Earnings Beat Forecasts

Noble Corp., a leading offshore driller, reported first-quarter net income on Wednesday of $0.99 a share, higher than consensus forecasts, as new rigs helped lift revenues.

Crashes in Crucial US Crude Waterway Hit 10-year Low

Serious crashes in the bustling Bay of Galveston have fallen to the lowest level in a decade even as more oil moves on U.S. waterways, official data show, suggesting

All Items Approved at Stolt-Nielsen Meeting

Stolt-Nielsen Limited announced that all agenda items were approved and all nominated directors were elected at its Annual General Meeting of shareholders held yesterday in Bermuda.

 
 
Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators 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: 0.1692 sec (6 req/sec)