Teekay Reports 3Q Results
Teekay Shipping Corporation reported net income of $79.8 million, or $1.07 per share, for the quarter ended September 30, 2006, compared to net income of $42.7 million, or $0.52 per share, for the quarter ended September 30, 2005. The results for the quarters ended September 30, 2006 and 2005 included a number of specific items that had the net effect of increasing net income by $2.0 million, or $0.03 per share, and $8.1 million, or $0.10 per share, respectively, as detailed in Appendix A to this release. Net voyage revenues(2) for the third quarter of 2006 were $344.3 million, compared to $317.8 million for the same period in 2005, and income from vessel operations increased to $105.0 million from $62.2 million.
Teekay to Pursue FPSO Projects
Production Storage and Offloading (FPSO) units. and Chief Executive Officer. that will result from this increased offshore oil production. Mr. customers and should increase our investment in this area. Production Espen Klitzing. The joint venture will only encompass new projects. venture. venture are to be finalized during the second quarter of 2006.