Singamas Back in the Black
Singamas Container Holdings Limited, Hong Kong-listed container manufacturing company, turned around in the first half of this year, thanks to a 45 per cent surge in its revenue mainly due to a jump in container sales and a higher average unit. "During the review period, the recovering global economy, rise in international trade and the corresponding pick up in shipping volume as well as the strengthening market sentiment have been favourable for the container industry, leading to the improvement of container demand and a rise of average selling price (ASP)," said a statement from the company. The Group’s consolidated revenue amounted to US$595,042,000, a significant rise of 45.0% over the revenue of US$410,277,000 obtained in the corresponding period last year.
ACL 1Q 2009 Results
American Commercial Lines Inc. (Nasdaq: ACLI) announced results for the first quarter ended March 31, 2009. Revenues for the quarter were $196.8 million, a 27.2% decrease compared with $270.5 million for the first quarter of 2008, as transportation revenue declined by 24.1% and manufacturing revenue fell 45% on fewer units sold. For the first quarter 2009, the company's net loss was $5.5 million or $0.11 per share compared to net income of $2.3 million or $0.05 per diluted share for the first quarter of 2008. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) for the first quarter of 2009 was $13.1 million with an EBITDA margin of 6.7% compared to $23 million for the first quarter of 2008 with an EBITDA margin of 8.5%.
ACL 2008 4Q and Annual Results
American Commercial Lines Inc. (Nasdaq: ACLI) announced results for the fourth quarter and year ended December 31, 2008. Revenues for the quarter were $289.9m, a 4.2% decrease compared with $302.5m for the fourth quarter of 2007. Income from continuing operations for the quarter was $23.5m or $0.47 per diluted share, compared to $23.6m or $0.46 per diluted share for the fourth quarter of 2007. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) from continuing operations for the fourth quarter of 2008 was $56m with an EBITDA margin of 19.3% compared to $54.5m for the fourth quarter of 2007 with an EBITDA margin of 18.0%. The attachment to this press release reconciles net income to EBITDA.
