News and Tribune

Recent Local News

November 5, 2012

Blame it on the rain: ACL posts third quarter losses, cites drought




Jeffboat, ACL’s manufacturing segment, revenues also took a major hit dropping nearly 71 percent to $10.3 million, as 18 barges were sold to third-parties compared to 63 sold in the third quarter 2011.

The company attributed the decline to the shift of Jeffboat’s capacity to the production of barges for its own transportation segment during the third quarter. According to the earnings statement, 15 new liquid barges and 35 new dry hopper barges were placed in service in the third quarter, compared to two oversize liquid tank barges and 30 dry hopper barges in the third quarter in 2011.

During the nine-month period, manufacturing revenues increased slightly, by 3.4 percent to $90.6 million, with 162 total barges sold to third parties, matching last year’s total through nine months.

Operating income decreased by $4.7 million, but was partially offset by an $11.4 million insurance claim to damages from the 2011 flood, according to the earnings statement.

Overall numbers

Despite the losses posted for the quarter — revenues for the third quarter dropped 28 percent compared to the third quarter in 2011— for the year ACL is still posting better net figures than last year.

ACL posted an $11.1 million gain compared to a $24.4 million loss, respectively.

Text Only | Photo Reprints
Recent Local News
Easter 2014 photos

Click on any photo to purchase it.

Twitter Updates
Follow us on twitter
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
AP Video
Raw: Families Travel to Taiwan Plane Crash Site Arizona Execution Takes Almost Two Hours Gen. Odierno Discusses Ukraine, NATO at Forum Gaza Fighting Rages Amid Cease-Fire Efforts Mint Gives JFK Coin a Face-lift Creative Makeovers for Ugly Cellphone Towers Ariz. Inmate Dies 2 Hours After Execution Began Crash Kills Teen Pilot Seeking World Record LeBron James Sends Apology Treat to Neighbors Raw: Funeral for Man Who Died in NYPD Custody Migrants Back in Honduras After US Deports Israeli American Reservist Torn Over Return Raw: ISS Cargo Ship Launches in Kazakhstan Six Indicted in StubHub Hacking Scheme Former NTSB Official: FAA Ban 'prudent' EPA Gets Hip With Kardashian Tweet Bodies of MH17 Victims Arrive in the Netherlands Biden Decries Voting Restrictions in NAACP Talk Broncos Owner Steps Down Due to Alzheimer's US, UN Push Shuttle Diplomacy in Mideast
2013 Photos of the year

Take a look at our most memorable photos from 2013.