AEGEAN
3rd Q sales of marine petroleum products increased
by 167.4% to USD 948.6m
NOV, 12.2008
Aegean Marine Petroleum Network Inc., (Dimitris Melissanides; interests), listed on NYSE, for the 3rd Q of 2008 recorded net income of USD 9.5m, or USD 0.22 basic and diluted earnings per share, from net income of USD 7.8m of 3rd Q of 2007. Total revenues increased by 167.1% to USD 950.6m compared to USD 355.9m for the same period in 2007. Sales of marine petroleum products increased by 167.4% to USD 948.6m compared to USD 354.7m.
For the 9 months ended September 30, 2008, the company recorded net income of USD 26.8m, or USD 0.63 basic and diluted earnings per share, compared to net income of USD 21.5m, or USD 0.51 basic and diluted earnings per share, of 2007. Total revenues increased by 160.9% to USD 2.2236bn compared to USD 852.3m. Sales of marine petroleum products increased by 161.3% to USD 2.2176bn.
E. Nikolas Tavlarios, President, commented: “The volume of marine fuel sold increased by 49.2% to 1,338,914 metric tons compared to 897,147 metric tons and 50.6% for the 9 months of 2008. In early 2009, the company plans to enter the Southern Caribbean market”.
Aegean Marine Petroleum Network is an international marine fuel logistics company that markets and physically supplies refined marine fuel and lubricants to ships in port and at sea, through its service centres in Greece, Gibraltar, Singapore, Jamaica, the United Arab Emirates, Northern Europe, West Africa, the United Kingdom and North America.
