Posted at 11:44 a.m., Friday, March 2, 2007
Horizon Lines earns $10.6 million in fourth quarter
Advertiser StaffHorizon Lines Inc., the No. 2 carrier of ocean cargo between the Mainland and Hawai'i, said it swung to a profit in the fourth quarter.
Net income in the three months ended Dec. 31 was $10.6 million, or 32 cents a share. That compared to a loss of $10.9 million, or 38 cents a share, a year earlier.
The Charlotte, North Carolina-based company said the profit would have been higher if costs for a share offering and loss on early payment of debt were deducted. Revenue totaled $287.5 million, an increase from the $279 million a year prior.