-- Adjusted Full-Year EBITDA Totals $112.7 Million
-- Adjusted Full-Year Free Cash Flow Totals $70.5 million
-- Fourth-Quarter Volume Down 4.2%; Rate, Net of Fuel, Flat from Year Ago
-- Dividend Set at $0.05 per Share for First Quarter of 2010
CHARLOTTE, N.C., Jan 29, 2010 /PRNewswire via COMTEX/ -- Horizon Lines, Inc. (NYSE: HRZ), today reported results for its fiscal fourth quarter and year ended December 20, 2009.
On a GAAP basis, fourth-quarter net income totaled $1.3 million, or $0.04 per diluted share, on revenue of $299.7 million. This compares with a net loss of $20.3 million, or $0.67 per diluted share on revenue of $314.7 million for the same period a year ago. Adjusted fourth-quarter 2009 net income totaled $3.7 million, or $0.12 per diluted share, after excluding charges for antitrust-related legal expenses and for a voluntary separation program for certain union employees and tax adjustments totaling $2.4 million, or $0.08 per share. Adjusted net income for the 2008 fourth quarter totaled $1.2 million, or $0.04 per diluted share, which excluded antitrust-related legal fees, and impairment and restructuring charges totaling $32.4 million pre-tax, or $0.71 per share after tax adjustments.
Vew complete press release on the Horizon Lines website
Source: Horizon Lines