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Net Income

General Maritime Corp. Announces 3Q Results

General Maritime Corporation reported its financial results for the three and nine months ended September 30, 2006. Financial Review: 2006 Third Quarter The company had net income of $24.0m, or $0.78 basic and $0.76 diluted earnings per share, for the three months ended September 30, 2006 compared to net income of $7.2 million, or $0.19 basic and $0.19 diluted earnings per share, for the three months ended September 30, 2005. The increase in net income was principally the result of higher voyage revenues attributable to a generally higher rate environment in the third quarter of 2006 compared to the prior year. Included in net income of $24.0m are certain non-recurring items including a reduction in gain on sale of vessels of $0.5 million and a reduction in net voyage revenue of $0.8 million resulting from the final settlement of customer claims relating to time charter contracts of the Company's formerly owned OBO vessels. Net voyage revenue, which is gross voyage revenues minus voyage expenses unique to a specific voyage (including port, canal and fuel costs), decreased 26.9% to $55.9 million for the three months ended September 30, 2006 compared to $76.5 million for the three months ended September 30, 2005. EBITDA for the three months ended September 30, 2006 was $34.0 million compared to $42.4 million for the three months ended September 30, 2005 (please see below for a reconciliation of EBITDA to net income). Net cash provided by operating activities was $15


Stolt Offshore Restates Second Quarter Earnings

Stolt Offshore S.A. has restated its second quarter and six-month results as a result of two accounting adjustments. The adjustments have a positive impact on the Company's net income of $1.4 million. The net income for the quarter ended May 31, 2002 is now $4.8 million, or $0.06 per share, on net operating revenue of $333.4 million. For the six-month period ended May 31, 2002, the Company now reports a net profit of $5.1 million, or $0.06 per share,


Hornbeck Announces Record 2005 Results

Hornbeck Offshore reported that fourth quarter revenues increased $19.3 million, or 51.1%, to $57.1 million compared to $37.8 million for the fourth quarter of 2004. Operating income was $24.9 million, or 43.6% of revenues, for the fourth quarter of 2005 compared to $10.2 million, or 27.0% of revenues, for the prior-year quarter. These record operating results were primarily driven by continued full practical utilization of the Company's offshore supply vessel (OSV) fleet in the U.S


W&T Offshore Reports 3Q Results

W&T Offshore, Inc. (NYSE: WTI) announced its financial and operational results recently. Net income for the third quarter of 2007 was $36.3m, or $0.48 per diluted share, on revenue of $255.2m, compared to net income for the same quarter in 2006 of $66.7m, or $0.91 per diluted share. Net income for the third quarter of 2007 reflects the impact of a $6.4m unrealized derivative loss ($4.2m after-tax), or $0.05 per diluted share


Diamond Offshore Announces Third Quarter 2001 Earnings

Diamond Offshore Drilling reported net income for the third quarter of 2001 of $53.4 million, or $0.38 per share on a diluted basis, compared to net income for the prior year quarter of $10.5 million, or $0.08 per share on a diluted basis. Revenues for the third quarter of 2001 were $230.6 million compared to revenues of $157.3 million for the third quarter of 2000. For the nine months ended Sept. 30, 2001, the Company reported net income before extraordinary items of $141.7 million, or $1


Teekay Tankers Q4 & Year End Results

Teekay Tankers Ltd. (NYSE:TNK) - Highlights ·         Declared a cash dividend of $0.22 per share for the quarter ended December 31, 2010. ·         Reported fourth quarter adjusted net income of $2.6 million, or $0.05 per share (excluding specific items which increased GAAP net income by $5.2 million, or $0.10 per share). ·         Over 60 percent of fourth quarter revenue days earned average fixed


Halliburton Announces 1Q Results

Halliburton announced that net income in the first quarter of 2006 was $488m, or $0.91 per diluted share, compared to net income of $365m, or $0.72 per diluted share, in the first quarter of 2005. Net income in the first quarter of 2006 included income from discontinued operations of $7m after tax, or $0.01 per diluted share, primarily related to the operations of KBR's Production Services group, which is expected to be sold in the second quarter of 2006 with a pretax gain of approximately


GlobalSantaFe Announces 3Q Earnings

Worldwide oil and gas drilling contractor GlobalSantaFe Corp. reported net income for the third quarter ended September 30, 2003, of $15.1 million, or $0.06 per diluted share, on revenues of $458.1 million, as compared to net income of $75.0 million, or $0.32 per diluted share, on revenues of $514.4 million for the same quarter in 2002. For the nine months ended September 30, 2003, GlobalSantaFe reported net income of $104.9 million, or $0.45 per diluted share, on revenues of $1,408


Excel Maritime Reports Q3 Results

Excel Maritime Carriers Ltd (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportation services for dry bulk cargoes, announced its operating and financial results for the third quarter and nine-month period ended September 30, 2009. Third Quarter 2009 Highlights: Revenue from operations for the quarter amounted to $174.4 million as compared to $231.6 million in the third quarter of 2008.


Dril-Quip Q4 & Year End Results

Dril-Quip, Inc. (NYSE:DRQ) announced net income of $28.7 million, or $0.72 per diluted share for the three months ended December 31, 2009, versus net income of $25.0 million, or $0.64 per diluted share for the fourth quarter of 2008. Total revenues increased to $141.3 million for the quarter ended December 31, 2009 from $135.5 million for the same period in 2008. The increase in revenues resulted from increases of $15.6 million in subsea equipment revenues and $0


Hawaiian Market Growth Boosts Matson Q3 Results

Photo: Matson

Matson, Inc., a U.S. carrier in the Pacific, announced its results for the third quarter of 2014, in which it reported a net income of $21.5 million, or $0.50 per diluted share, compared with $17.2 million or $0.40 per diluted share in 2013, while consolidated revenue for the third quarter 2014


Conrad 3Q 2014 Net Slips

Conrad Industries

  Conrad Industries, Inc.announced today its third quarter and nine months 2014 results and backlog. For the quarter ended September 30, 2014, Conrad had net income of $4.5 million and earnings per diluted share of $0.74 compared to net income of $6


Rates Increase Boosts Diana Containerships Q3 Income

Cap Doukato (Photo: Diana Containerships)

Diana Containerships Inc. reported net income of $1.4 million for the third quarter of 2014, compared to a net loss of $0.7 million for the respective period of 2013.    Time charter revenues, net of prepaid charter revenue amortization, were $13 million for the third quarter of 2014


Russia Plans to Sell Sovkomflot Shares in New York

Russia hopes to place shares of shipping company Sovkomflot in New York as part of its privatisation plans, a deputy minister of transport told reporters on Friday, a move which could face resistance due to confrontation with the West over Moscow's role in Ukraine.


Earthstone Energy Named “Fastest Growing”

Image

  Earthstone Energy, reported today that the August 2014 issue of the Oil & Gas Financial Journal (OGFJ) named Earthstone among the 20 Fastest Growing Companies for the first calendar quarter of 2014 (the most recent data). The OGFJ ranks U.S


MOL YoY Q1 2014 Profit Slips, but Dividend Planned

Koichi Muto: Photo MOL

MOL President Koichi Muto informs in a letter addressed to company shareholders of a year-on-year decline in profits during the first quarter of fiscal year (FY) 2014, excerpted as follows: "I would like to report our business results for the first quarter of fiscal year (FY) 2014 (April 1


Weak Drybulk Market Hurts VLCCF Results

Highlights Knightsbridge reports net income of $6.3 million and earnings per share of $0.14 for the second quarter of 2014. Knightsbridge reports EBITDA of $10.5 million and EBITDA per share of $0.24 for the second quarter of 2014.


Bunkerers Aegean Report Strong Q2 Results

Bunkering scene: File photo

Aegean Marine Petroleum Network Inc. has announced its financial and operating results for the second quarter ended June 30th, 2014, outlined here as follows: Second Quarter Highlights Sales volumes of 2,659,620 metric tons. Gross profit of $84.5 million.


Conrad Reports Strong Q2 Results, Backlog

Photo: Conrad Industries, Inc.

Conrad Industries, Inc. announced its second quarter and six months 2014 financial results and backlog at June 30, 2014. For the quarter ended June 30, 2014, Conrad had net income of $6.8 million and earnings per diluted share of $1.14 compared to net income of $6


Seadrill's Q2 2014 Revenue Holds Nearly Steady

Drill ship: Photo courtesy of Seadrill

Revenues for the second quarter of 2014 were US$1,222 million compared to US$1,221 million in the first quarter of 2014, according to the company's financial report. Operating profit for the quarter was US$476 million compared to US$890 million in the preceding quarter


STEALTHGAS 2Q And 1H 2014 Results

STEALTHGAS VESSEL

  STEALTHGAS INC. a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, released today its unaudited financial and operating results for the second quarter and six months ended June 30, 2014. Second Quarter 2014 Results:


Box Ships on Q2 Slippery Containership Slope

Container ship: File photo

"The reduced charters on the 'Box Queen', 'CMA CGM Marlin' and 'CMA CGM Kingfish' were the contributing factors to the 24% decline in our adjusted time charter revenues year over year, which directly impacted our bottom line." says Mr


Danaos Corp. 3Q & 9M Results

Danaos Corporation

Danaos Corporation, a leading international owner of containerships, today reported unaudited results for the period ended September 30, 2014. Highlights for the Third Quarter and Nine Months Ended September 30, 2014: * Operating revenues of $139


NAO Announces Financials, Declares Dividend

Nordic American Offshore Ltd. has declared a dividend of $0.45 per share for 3Q2014, as previously announced. This is the same dividend as for the previous two quarters.   The record date is November 7, 2014 and the payment of dividend is expected to take place on or about November 21, 2014


DryShips Reports 3Q 2014 Results

Photo by DryShip

DryShips Inc. an international provider of marine transportation services for drybulk and petroleum cargoes, and through its majority owned subsidiary, Ocean Rig UDW Inc., or Ocean Rig, of offshore deepwater drilling services, today announced its unaudited financial and operating results for the






 
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