Horizon Lines said it had a loss from continuing operations of about $853,000 in the second quarter ending June 23 compared to a loss of $31.1 in the same 2012 period.
Operating income was $16 million in the second quarter compared to $1 million in the second quarter of last year.
Revenue was $259.8 million in the second quarter of 2013 compared to $270.9 million for same period in 2012.
In the second quarter, the company said it moved 56,159 revenue containers compared to 59,768 in the same period a year earlier. (Revenue containers refers to containers that are transported for a charge, as opposed to empty containers.) The company said the decrease in volume was due to a decision to discontinue its Tuesday sailing from Jacksonville, Fla., to San Juan. Average unit revenue was similar to last year – $4,263 compared to $4,269 in the same 2012 period.
The company said it expects “full fiscal year revenue container volume, excluding the loss of revenue loads associated with the reduced number of sailings between Jacksonville and San Juan, and rates to be slightly higher than 2012 levels. Revenue container rate increases are necessary to mitigate contractual and inflationary growth in expenses, including the company’s vessel payroll and benefits, stevedoring, port charges, wharfage, inland transportation, and rolling stock costs, among others.” – Chris Dupin
Horizon slashes losses
