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Black oil and petrochemical volumes boost Kirby earnings.
(From Lloyds List)
Byline: John McLaughlin in New York
HOUSTON-based barge operator Kirby Corp announced earnings of $13.8m for the second quarter of the year, up from $11.8m in the same 2003 period.
Revenues also rose, from $158.7m to $170.9m as strong black oil and petrochemical volumes more than offset weak fertiliser demand.
The quarterly improvement which translated into earnings of 55cents per share, slightly higher than the company's earnings guidance of 50cents-54cents per share took Kirby's earnings for the first half to $22.8m on revenues of $328.2m, up from $18.7m in earnings on revenues of $306.9m last year.
The company's core marine transport division registered increases in earnings and revenues for both periods, net income rising from $21.8m on revenues of $137.2 in second-quarter 2003 to $24.9m on revenues of $149.1m this time, and from $35.5m on revenues of $262.2m in the first half of ...
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