INTERNATIONAL SHIPHOLDING REPORTS 4TH-QUARTER PROFIT

INTERNATIONAL SHIPHOLDING REPORTS 4TH-QUARTER PROFIT

   International Shipholding Corp., based in New Orleans, reported fourth-quarter earnings of $775,000 in net income, compared to a loss of $460,000 for the year-earlier period.

   The fourth-quarter results included an extraordinary gain of $446,000 on early extinguishment of debt. The year-earlier period included a 6.9-percent increase in interest expense.

   Revenue rose 4.5 percent to $89.1 million, while operating income rose 4.1 percent to $8.4 million.

   For calendar year 2000, International Shipholding reported net income of $836,000, compared to $14.6 million for the year-earlier period. The year-earlier period included $20.6 million in net revenue form a contract settlement.

   Revenue for 2000 was $342.4 million, up 1.1 percent. Operating income fell 39.8 percent to $32.5 million.