Horizon Lines reports strong quarter
Citing improvements in freight rates and its cargo mix, the Puerto Rico trade carrier Horizon Lines says it had second quarter net income of $6.4 million, compared to a loss of $4.1 million for the second quarter in 2005.
Operating income for the second quarter $22.4 million, compared to $12.0 million in the second quarter of 2005.
The company said the rate and cargo mix improvements more than offset the soft cargo volumes for the quarter.