Printer Friendly

TMM REPORTS FIRST QUARTER 1993 EARNINGS

 MEXICO CITY, April 22 /PRNewswire/ -- Transportation Maritima Mexicana (NYSE: TMM/TMM.A) today announced results for the first quarter ended March 31, 1993.
 Revenues for the first quarter 1993 were $104.9 million, a decrease of 2.5 percent when compared with $107.6 million reported during the same period in 1992. This decrease is due primarily to a reduction in sales of bulk services.
 Net income for the period was $11.6 million or $0.20 per share, compared with $10.3 million, or $0.22 per share, reported during the same period in 1992. The 1993 figure includes income of $1.2 million realized from the sale of a ship and $6.1 million realized from the liquidation of certain trust fund assets.
 At the Annual Stockholders' Meeting held on April 21, 1993 the shareholders of the company authorized the payment of a cash dividend payable on May 7, 1993 of 0.43 New Pesos (approximately $0.14) per outstanding share.
 TMM prepares and reports its financial statements in accordance with International Accounting Standards.
 TMM is Mexico's largest maritime shipping company and the leader among world carriers serving Mexico.
 TRANSPORTACION MARITIMA MEXICANA, S.A. DE C.V. AND SUBSIDIARIES
 Consolidated Statement of Income (A)
 (in millions of dollars)
 Three months ended March 31 1993 1992
 Revenue from freight and services $104.871 $107.566
 Cost of freight and services (82.010) (77.235)
 Depreciation of vessels and operating equipment (6.498) (6.564)
 Total (88.508) (83.799)
 Gross profit 16.363 23.767
 Administrative expenses (15.457) (12.680)
 Operating income 0.906 11.087
 Financial expenses (5.673) (7.814)
 Financial income 8.275 10.403
 Exchange gain (loss) net 1.052 (2.096)
 Total 3.649 0.493
 Other income (expense) - net 7.577 (0.153)
 Income before taxes 12.132 11.427
 Provisions for taxes (0.233) (0.767)
 Income for minority interest 11.899 10.660
 Minority interest (0.348) (0.323)
 Net income 11.551 10.337
 Weighted average outstanding shares (millions) 56.961 47.781
 Earnings per share (dollars/share) 0.20 0.22
 Outstanding shares at end of period (millions) 56.955 47.781
 Earnings per share (dollars/share) $0.20 0.22
 (A) -- Prepared in accordance with International Accounting Standards.
 -0- 4/22/93
 /CONTACT: Pedro Mejorado of TMM, 011-525-606-0444, or Cathleen Mayrose of Dewe Rogerson, 212-688-6840/
 (TMM)


CO: Transportacion Maritima Mexicana ST: IN: TRN SU: ERN

LD-KS -- NY134 -- 9740 04/22/93 16:51 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 22, 1993
Words:417
Previous Article:DEERE & COMPANY SIGNS AGREEMENTS WITH TWO CZECH COMPANIES
Next Article:IPALCO SEEKS PROXIES TO ELECT FIVE NOMINEES TO PSI RESOURCES BOARD OF DIRECTORS AND IN OPPOSITION TO PSI
Topics:


Related Articles
TRANSPORTACION MARITIMA MEXICANA REPORTS SECOND QUARTER AND FIRST HALF YEAR RESULTS
TMM REPORTS THIRD QUARTER EARNINGS
/C O R R E C T I O N -- TMM Earnings/
TRANSPORTACION MARITIMA MEXICANA, S.A. DE C.V. REPORTS SECOND QUARTER AND FIRST HALF RESULTS
TMM REPORTS THIRD QUARTER EARNINGS
TMM REPORTS FOURTH QUARTER EARNINGS
TMM REPORTS FIRST QUARTER 1994 RESULTS
TMM REPORTS SECOND QUARTER 1995 RESULTS; COMPANY REPORTS 32% INCREASE IN OPERATING INCOME
Transportacion Maritima Mexicana Reports 1Q Results Net Profit Posted for the Quarter; TFM Railroad Shows Profit and Record Performance; 13% Increase...
Transportacion Maritima Mexicana Reports First Quarter 2001 Financial Results.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters