Stolt-Nielsen S.A. Reports Improved Third Quarter Results

Wednesday, September 26, 2001
Stolt-Nielsen S.A. (Nasdaq: SNSA; Oslo Stock Exchange: SNI) reported results for the third quarter and the nine-month period ended August 31, 2001. Net income for the latest quarter was $29.7 million, or $0.54 per share, on net operating revenue of $735.4 million, compared with a net loss of $0.3 million, or $0.01 per share, on net operating revenue of $607.8 million for the third quarter in 2000. The weighted basic average number of shares outstanding for the third quarter of 2001 was 54.9 million compared to 54.7 million for the same period of 2000. Net income for the nine-month period ended August 31, 2001 was $26.3 million, or $0.48 per share, on net operating revenue of $1,912.7 million, compared with net income of $26.0 million, or $0.48 per share, on net operating revenue of $1,637.4 million for the same period of 2000. Before one-time gains resulting from dilution on Stolt-Nielsen S.A.'s (SNSA) interest in Stolt Offshore S.A. and the sale of assets, the net loss for the nine-month period ended August 31, 2000 was $7.5 million or $0.14 per share. For the nine-month period of 2001, the weighted basic average number of shares outstanding was 54.9 million, compared with 54.6 million for the same period in 2000. Stolt-Nielsen Transportation Group's (SNTG) income from operations during the third quarter improved to $41.1 million, almost doubling the $21.2 million in the third quarter of 2000, and was also up from the $35.8 million in the second quarter of 2001. For the nine-month period in 2001, income from operations improved to $106.1 million from $60.9 million last year. Results also benefited from lower bunker fuel prices. Income from operations rose to $29.7 million in the third quarter from $11.6 million in the third quarter of 2000. In early December, we expect to take delivery of the M/T Stolt Perseverance, the last ship of our 24 ship, $1.3 billion newbuilding program. This delivery will complete our newbuilding program for the foreseeable future.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Brent Crude Slips Towards US$102

Brent crude fell towards $102 a barrel on Tuesday on concerns of slowing oil demand growth due to weak economic recoveries in China and Europe, although new unrest

SGS Wet Welding Repairs Approved by DNV GL

DNV GL and Subsea Global Solutions LLC (SGS) say that they have completed an extensive joint research and development program, that will allow permanent repairs

Aker Solutions Update on Company Hive-Off

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split

Finance

Brent Crude Slips Towards US$102

Brent crude fell towards $102 a barrel on Tuesday on concerns of slowing oil demand growth due to weak economic recoveries in China and Europe, although new unrest

Aker Solutions Update on Company Hive-Off

Aker Solutions informs updated unaudited financial information for the two companies - the new Aker Solutions and Akastor - that will be formed following the split

Russia's Shipping Major Reports Strong 1H 2014

OAO Sovcomflot (SCF Group), Russia’s largest shipping company and a global leader in seaborne energy transportation and offshore services, has announced its financial

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Ship Simulators
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: 0.1318 sec (8 req/sec)