INTERNATIONAL SHIPHOLDING SEES 3RD-QUARTER LOSS

INTERNATIONAL SHIPHOLDING SEES 3RD-QUARTER LOSS

   International Shipholding Corp. reported a third-quarter net loss of $165,000, compared with net income of $418,000 for the third quarter of 2000.

   Revenue declined 10 percent to $74 million. The company recorded operating income of $5.2 million, down 36 percent.

   For the first nine months of 2001, the company reported a net loss of $62.9 million, compared to a net profit of $61,000 for the year-earlier period. Revenue was down 12 percent to $224 million, while the company reported an operating loss of $77 million, compared to an operating profit of $24.1 million for the year-earlier period.

   The nine-month results for 2001 reflect a previously reported $51.6 million asset impairment loss on “assets held for disposal.” Excluding the impairment charge, net loss for the nine months of 2001 was $11.3 million.