News and Tribune

Recent Local News

November 5, 2012

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

(Continued)

JEFFERSONVILLE —

Manufacturing

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
LOCAL MAGAZINES
Easter 2014 photos


Click on any photo to purchase it.

SPECIAL CONTENT
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
Netanyahu Vows to Destroy Hamas Tunnels Obama Slams Republicans Over Lawsuit House Leaders Trade Blame for Inaction Malaysian PM: Stop Fighting in Ukraine Cantor Warns of Instability, Terror in Farewell Ravens' Ray Rice: 'I Made a Huge Mistake' Florida Panther Rebound Upsets Ranchers Small Plane Crash in San Diego Parking Lot Busy Franco's Not Afraid of Overexposure Fighting Blocks Access to Ukraine Crash Site Dangerous Bacteria Kills One in Florida Workers Dig for Survivors After India Landslide Texas Scientists Study Ebola Virus Smartphone Powered Paper Plane Debuts at Airshow Southern Accent Reduction Class Cancelled in TN
2013 Photos of the year


Take a look at our most memorable photos from 2013.