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 March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

Russia Ships First Oil From Offshore Arctic Platform

President Vladimir Putin hailed Russia's first shipment of Arctic offshore oil on Friday, saying the platform decried by environmentalists will help Moscow expand its global energy markets share.

Shipping Turns From Banks to Equity Markets for Cash

Shipping companies are turning to equity markets to fill a growing funding gap, betting that investors hungry for decent returns will provide capital to a sector

Finance

India's Reliance Q4 Sales Rise

Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue.

Schlumberger Announces Q1 Results

Schlumberger Limited (NYSE:SLB) today reported first-quarter 2014 revenue from continuing operations of $11.24 billion versus $11.91 billion in the fourth quarter of 2013, and $10.

New sanctions threats as Ukraine stalemate goes on

A day after an international deal in Geneva to defuse the East-West crisis in Ukraine, pro-Russian separatists vowed not to end their occupation of public buildings

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.1284 sec (8 req/sec)