This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

International Shipholding Corporation Reports Second Quarter 2012 Results

Operating Income

Operating income for the three months ended June 30, 2012, was $3.5 million as compared to $6.7 million for the comparable 2011 period. The Company’s gross voyage profit representing the operating results of its five reporting segments was $13.3 million compared to $18.2 million in the 2011 three month period. The comparable results by reporting segment are shown below:


Rail Ferry

U.S. Flag






   (all amounts in millions)

Second Quarter 2012
Gross Voyage Profit $ 6.630 $ 4.679 $ .126 $ 1.448 $ .411 $ 13.294
Depreciation (2.310) (2.702) -- (.701) (.010) (5.723)
Gross Profit $ 4.320 $ 1.977 $ .126 $ .747 $ .401 $ 7.571

(After Depreciation)


Second Quarter 2011
Gross Voyage Profit $ 9.335 $ 7.524 $ (.101) $ 1.056 $ .333 $ 18.147
Depreciation (2.495) (2.699) -- (.899) (.002) (6.095)
Gross Profit $

$ 4.825 $ (.101) $ .157 $ .331 $ 12.052

(After Depreciation)


Gross voyage profit for the U.S. Flag Time Charter segment was lower due to the expiration of the three operating contracts with the Military Sealift Command (MSC) which occurred near the end of the first quarter of 2012. This was partially offset by higher supplemental cargo volumes and the operation of the ice strengthened vessel on charter to the MSC. The International Flag Time Charter segment reported lower results reflecting the divestiture of two of its Pure Car Truck Carriers in the first quarter of 2012. This segment was also impacted by the dry bulk market which continues to experience depressed rate levels. The Contract of Affreightment and Rail Ferry segments reported slightly higher results reflecting lower operating costs during the quarter. The Company’s Other Segment, consisting mainly of chartering brokerage and agency services, reported comparable quarterly results.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs