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Stolt-Nielsen reports weakened third-quarter results
7:09 AM MDT | October 4, 2012 | Sotirios Frantzanas
Stolt-Nielsen says unaudited net and operating profits in the company's fiscal third quarter, ended 31 August 2012, decreased 70% and 23% year over year, to $6.7 million and $31.7 million, respectively. Sales also decreased 2.5% in the third quarter, to $516.4 million compared with $529.8 million in the corresponding period of 2011. "Stolt-Nielsen's weakened result in the third quarter reflects the underlying weakness in the parcel tanker market driven by a slowing global economy," says Niels Stolt-Nielsen, CEO at Stolt-Nielsen...
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