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Friday, January 19, 2018

Reports Results News

Stolt Comex Reports Results

Subsea contractor Stolt Comex Seaway S.A. reported results for the fourth quarter and the year ended Nov. 30, 1999. Net loss for the latest quarter was $1.5 million, on net operating revenue of $149.4 million, compared with net income of $9.6 million, on net operating revenue of $223.9 million for the same period last year. Net income for the year ended Nov. 30, 1999 was $16.2 million, on net operating revenue of $640.7 million, compared with a net income of $57.3 million, on net operating revenue of $649.8 million for the same period in 1998.

Globalstar Reports Results for Second Quarter of 2001

Satellite communications company, Globalstar, has reported its results for the quarter ended June 30, 2001, which showed steady increases in both voice and data traffic, with a broadening base of new customers among key industry targets. Efforts to restructure the company's finances are continuing with the assistance of outside advisors. In the meantime, the company's marketing and sales efforts are showing growing acceptance of the service across industries and government organizations around the world. As a result, the company's business measurements, both in minutes of use (MOUs) and subscriber numbers, rose substantially over the previous quarter.

Dockworkers Vote on Contract

West Coast dockworkers began voting yesterday on a contract deal that was reached after labor disputes. ILWU last month suggested that the union approve the six-year deal that boosted wages and benefits, despite potential job losses due to emerging technology. The union plans to report results of the vote on January 22. If approved, the deal would go into effect immediately. The deal will allow employers to implement new technology, which could result to an estimated 440 to 500 job losses, but would give the union control over remaining positions and any new ones created with the new technologies.

Teekay Tankers Post Loss in Q2 2012

Teekay Tankers Ltd. reports results for the three months ended June 30, 2012, pays out reduced dividend compared to Q1. In June 2012, Teekay Tankers completed the previously announced acquisition from [parent company] Teekay Corporation of 13 double hull conventional tankers, including seven crude oil tankers and six product tankers. "After the completion of our 13-vessel acquisition from Teekay Corporation in June, we continue to focus on managing employment of our significantly expanded fleet to achieve the right balance of downside protection through fixed-rate coverage and upside through spot market exposure," commented Bruce Chan , Chief Executive Officer of Teekay Tankers. Mr.

Stolt Offshore Releases 2Q Results

Stolt Offshore S.A. reported results for the second quarter and six months ended May 31, 2002. the same period last year. share equivalents outstanding for the quarter was 85.1 million compared with 87.2 million for the same time last year. For the six month period ended May 31, 2002, the company reported a net profit of $3.6 million, or $0.04 per share, on net operating revenue of $628.6 million. This compares with a net loss of $21.8 million, or $0.25 per share, on net operating revenue of $473.1 million for the same period last year. The weighted average number of common share equivalents outstanding for the six month period was 86.1 million compared with 87.2 million for the same period last year.

Norden Boosts Earnings Expectations

Photo: Peter Gramstrup / Norden

 Danish shipping firm Dampskibsselskabet Norden A/S said its unaudited and preliminary results indicate an adjusted result for 2017 in the range of $20 million to $35 million, up from previous expectations of -$10 to $30 million.   Norden said the anticipated earnings improvement is a result of a stronger than expected performance in the fourth quarter of 2017 in both the tanker business and dry cargo business, including the dry operator.   Norden will publish its annual report for 2017 on March 6, 2018.  

Royal Caribbean Announces Third Quarter Results

Royal Caribbean Cruises Ltd. announced net income for the third quarter of $159.2 million Third quarter earnings were negatively impacted by $21.3 million due to lost revenues and extra costs directly associated with passengers not being able to reach their departure ports during the weeks following September 11. Also included in the reported results is an additional $15.4 million in costs associated with business decisions taken in the aftermath of the attacks, including itinerary changes and charges related to closing of offices and deferral of programs. Adjusted for these changes, third quarter net income was $196.0 million. This compares to $201.5 million the third quarter of 2000. same quarter in 2000, when revenues were $835.2 million. pricing and occupancy.

Stolt-Nielsen Reports 2Q Results

Stolt-Nielsen S.A. reported results for the second quarter ended May 31, 2004. Net income for the latest quarter was $3.9 million on operating revenue of $448.4 million, compared to a net loss of $50.4 million, or $0.92 per share, on operating revenue of $760.7 million for the second quarter of 2003. The basic weighted average number of shares outstanding for the quarter was 62.8 million compared with 54.9 million for the same period in 2003. SNSA's reported results reflect the deconsolidation of Stolt Offshore S.A. (SOSA) in February 2004. The net income for the six-month period ended May 31, 2004 was $14.9 million, on operating revenue of $1,116.4 million on operating revenue of $1,541.0 million for the same period in 2003.

OSG Reports $284m Profit In 2015

Photo: Overseas Shipholding Group, Inc.

Overseas Shipholding Group, a provider of oceangoing energy transportation services, reported results for the fourth quarter and full year 2015. The company reported net income of $9.3 million in its fourth quarter. The crude oil and petroleum transportation company posted revenue of $243.7 million in the period. For the year, the company reported profit of $284 million, or 49 cents per share. Revenue was reported as $964.5 million. The Board has declared a dividend of $0.08 per share. “We are pleased to report strong results for the 4th quarter and full year 2015,” said Captain Ian T.

Stolt-Nielsen S.A. Reports 4Q and 2007 Results

Stolt-Nielsen S.A. reported results for the fourth quarter and full year ended November 30, 2007. The financial statements for the full year ended November 30, 2007 have been audited. • Operating revenue for the fourth quarter of $460.8 million, up 14% compared with same quarter last year. Operating revenue for the full year of $1,759.4 million, up 12% compared with the previous year. • Operating income for the fourth quarter of $47.0 million, up 7% compared with fourth quarter of last year. Operating income for the full year of $193.0 million, up 16% compared with the previous year. • Net income for the fourth quarter of $36.3 million…

Raytheon's Results Beat The Street's Targets

The nation's third- and fourth-largest defense contractors on Wednesday beat Wall Street's first-quarter profit targets, posting strong gains in operating results driven by their combat and electronic systems businesses. Raytheon Co., maker of the Patriot missile, business jets and radar systems, reported a 21 percent increase in profits from ongoing operations to edge past analysts' consensus estimate. But after the affect of a large charge, the company showed a net loss. General Dynamics Corp. surprised analysts with a 15 percent jump in net profits that easily surpassed expectations. The maker of nuclear submarines, tanks and destroyers followed by boosting guidance for full-year profits. Defense stocks shot higher in Wednesday trading amid a broad market rally.

International Shipholding Reports Fourth Quarter Results

International Shipholding Corporation reported results for the year and quarter ended December 31, 2001. Net loss for the fourth quarter was $1.5 million as compared to net income of $775,000 for the fourth quarter of 2000. For the year ended December 31, 2001, the Company reported a net loss of $64.4 million as compared to net income of $836,000 during the year ended December 31, 2000. The annual results for 2001 reflect a previously reported asset write-down on "Assets Held-for-Disposal" of approximately $51.1 million, net of taxes, in accordance with FASB 121, "Accounting for the Impairment of Long-lived Assets". This non-cash charge…

As Oil Prices Drop, Rigs Go Off-Line

Photo courtesy of Transocean

Transocean Ltd, the owner of the world's largest offshore drilling fleet, said it was likely to retire additional rigs as the company continued to face pressure due to slowdown in an oversupplied rig market. The drilling contractor's shares rose as much as 3 percent in early trading after the company reported better-than-expected quarterly results on Monday. The recent slide in oil prices has weighed on demand for offshore services as oil and gas producers cut costs. Day rates…

Manitowoc Reports Quarterly Report

share, and backlog. For the quarter, net sales totaled $1.019 billion, the first time that the company's quarterly revenue exceeded $1 billion, which is an increase of 37 percent from the second quarter of 2006. Reported earnings per diluted share were $1.53 for the second quarter of 2007 compared to $0.67 for the second quarter of 2006. special items that increased reported earnings per share by $0.01. work platform parts business. defined benefit to a defined contribution structure and a charge for a U.S. pension withdrawal liability. a $0.15 per share charge associated with early retirement of debt. the prior year period.

International Shipholding Corporation Reports Third Quarter Results

International Shipholding Corporation reported results for the quarter ended September 30, 2001. Net loss for the third quarter was $165,000 as compared to net income of $418,000 for the third quarter of 2000. For the nine months of 2001, International Shipholding Corporation reported a net loss of $62.9 million as compared to net income of 461,000 during the first nine months of 2000. Since the second quarter announcement, International Shipholding Corporation’s intent to dispose of certain of its assets, their Cape-size Bulk Carrier was sold during the third quarter. The process of disposing of the LASH Assets and the special purpose barges is continuing.

Greece's Euroseas Report Q2 2013 Losses

Euroseas Ltd. reports results for the 6-month period and quarter ended June 30, 2013, despite net loss declares quarterly dividend, announces the sale of a vessel and the chartering of one of its bulkers. •Net loss of $8.9 million or $0.20 loss per share basic and diluted on total net revenues of $9.6 million. Adjusted net loss1 for the period would have been $5.7 million, or $0.12 loss per share, basic and diluted. •Adjusted EBITDA was $(1.0) million. •An average of 14.96 vessels were owned and operated during the second quarter of 2013 earning an average time charter equivalent rate of $7,708 per day. •Declared a quarterly dividend of $0.015 per share for the second quarter of 2013 payable on or about September 11, 2013 to shareholders of record on August 31, 2013.

Odyssey Marine Exploration Reports Q1 Performance

Tampa, FL – May 9, 2011 - Odyssey Marine Exploration, Inc. (NasdaqCM: OMEX), pioneers in the field of deep-ocean shipwreck exploration, has reported results for the first quarter ended March 31, 2011. Revenue for the first quarter 2011 was $2.1 million, compared to $2.9 million in the first quarter 2010. The Company also reported a net loss of $5.2 million, compared to a net loss of $3.1 million in 2010. Included in the net loss was a non-cash expense of $1.3 million, or $0.02 per share…

ACL Named to EPA's National Environmental Performance Track Program

American Commercial Lines Inc. (ACL) announced that its Transportation Services Division has been named as one of 42 new members of the United States Environmental Protection Agency's (EPA) National Environmental Performance Track program. Membership is awarded to private and public facilities that have a strong record of environmental compliance, set three-year goals for continuous improvements in environmental performance beyond their legal requirements, have internal systems in place to manage their environmental impacts, engage in community outreach, and consistently report results. ACL is the first marine transportation company to obtain membership in the program.

Kirby Corp. Profits Disappoint

Barge operator Kirby Corp. said its third-quarter profit would miss Wall Street expectations by about 10 percent because of a fall off in refined petroleum shipments and higher fuel prices. Houston-based Kirby, which operates a fleet of barges and towing vessels transporting chemicals, refined petroleum and agricultural goods on U.S. inland waterways, said in a statement its third-quarter profit would be between 36 cents and 38 cents per share. Wall Street analysts had been expecting Kirby to report a profit of $0.41 cents per share, according to research firm First Call/Thomson Financial. A year earlier it had earned $0.34 cents per share. Refined product volumes were strong in the first and second quarters, but weakened during the third quarter, the company said.

MarTID: The Global Maritime Training Survey

© taa22/Adobe Stock

In a coming edition of Maritime Reporter & Engineering News, we explore modern training and “blended learning” techniques with Murray Goldberg, CEO of Marine Learning Systems, maker of MarineLMS. A researcher and developer of learning management systems, Goldberg’s software has been used by millions of people and companies worldwide. Here Goldberg explains the scope and important of a historic new annual survey, The Maritime Training and Insights Database (MarTID) (www.martid.org/survey).

Wilson Sons 3Q, 9Mo Report

Wilson Sons Limited reported results for third quarter 2008 and 9 months 2008. Through its subsidiaries, the company (Bovespa: "WSON11 BZ") is one of Brazil's providers of integrated port and maritime logistics and supply chain solutions. With a business track record of over 170 years, the company has developed a national network and provides a set of services related to domestic and international trade, as well as to the oil and gas industry. Its principal activities are divided into the following business segments: port terminals, towage, logistics, shipping agency, offshore, and non-segmented activities. 3Q08 net revenues were up by 26.9% over 3Q07, reaching USD 132.4 million. Year-to-date, net revenues improved by 32.7%, reaching USD 380.8 million.

Greece's Safe Bulkers Weather Challenging Financial Conditions

Bulk carrier owners & charterers Safe Bulkers, Inc. reports results for the third quarter and the first nine months of 2012, pays reduced dividend. Net revenue for the third quarter of 2012 increased by 10.1% to $46.8 million from $42.5 million during the same period in 2011. Net income for the third quarter of 2012 increased by 4.5% to $20.7 million from $19.8 million during the same period in 2011. Adjusted net income1 for the third quarter of 2012 decreased by 12.0% to $22.8 million from $25.9 million during the same period in 2011. Net revenue for the nine-months period ended September 30, 2012 increased by 9.5% to $138.0 million from $126.0 million during the same period in 2011.

Horizon Lines Reports 3Q Results

Horizon Lines, Inc. measures. quarter of 2004. revenue. $27.4 million for the same period last year. intangible assets associated with the July 2004 acquisition of the Company. transaction expenses totaling $11.3 million. quarter of 2005, compared to 2004. over third quarter 2004 on a comparable basis. 2004. Basic earnings per share for the third quarter of 2005 was $.14. December 27, 2004.

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Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

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