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

People & Company News

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

Finance

Areva-Siemens Raises Claim Over Finnish Reactor Delays

The French-German consortium Areva-Siemens , the supplier of Finland's much-delayed Olkiluoto-3 nuclear reactor, has increased its claim against Finnish utility Teollisuuden Voima (TVO),

Ezra Bags $70m in Offshore Contracts

Ezra Holdings Limited, a leading contractor and provider of integrated offshore solutions to the oil and gas industry, today announced that the Group’s Subsea Services division,

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1925 sec (5 req/sec)