Stolt-Nielsen S.A. reported results for the fourth quarter and full year ended November 30, 2007. The financial statements for the full year ended November 30, 2007 have been audited.
Highlights for the fourth quarter and full year ended November 30, 2007, compared with the fourth quarter and full year ended November 30, 2006, included:
• Operating revenue for the fourth quarter of $460.8 million, up 14% compared with same quarter last year. Operating revenue for the full year of $1,759.4 million, up 12% compared with the previous year.
• Operating income for the fourth quarter of $47.0 million, up 7% compared with fourth quarter of last year. Operating income for the full year of $193.0 million, up 16% compared with the previous year.
• Net income for the fourth quarter of $36.3 million, compared with net income of $57.8 million in the same quarter last year (fourth-quarter 2006 results included a contribution to net income of $19.4 million from Stolt Sea Farm's 25% share of Marine Harvest, which was sold in the first quarter of 2007). Net income for the full year of $216.4 million, up 8% from $199.9 million in the prior year.
• The Stolt Tankers Joint Service Sailed-in Time-Charter Index was 1.25, down 7% from 1.34 in the fourth quarter of 2006.
• At Stolt Parcel Tankers, growth in operating income was impacted by higher operating costs.
• Stolthaven Terminals reported record results for the full year, with overall high utilization.
• Stolt Tank Containers reported record results for the full year, despite cost increases in the fourth quarter.