HARTFORD, Conn. - Shipping and logistics company Navios Maritime Holdings Inc. on Tuesday reported greater profit in the second quarter as shipping revenue more than doubled.
The Greek shipping company recorded net income of about $79.2 million, or 72 cents per share, was more than triple the $23.2 million, or 24 cents per share in the second quarter of 2007.
However, excluding a $57.3 million write-off of deferred Belgian taxes, net income was 22 cents per share in the latest quarter.
Analysts polled by Thomson Reuters expected income of 21 cents per share. Analyst estimates typically exclude one-time items.
Revenue rose to $354.4 million from $135.9 million. Revenue from vessels operations for the quarter was $328.9 million, more than double $132.5 million in the same three months of last year.
Shares of Navios Maritime fell 57 cents, or 5.9 percent, to close at $9.08. |
