Last $0.41 USD
Change Today +0.0097 / 2.42%
Volume 354.5K
HRZL On Other Exchanges
Symbol
Exchange
OTC US
As of 8:10 PM 09/2/14 All times are local (Market data is delayed by at least 15 minutes).

horizon lines inc-cl a (HRZL) Snapshot

Open
$0.40
Previous Close
$0.40
Day High
$0.42
Day Low
$0.40
52 Week High
10/18/13 - $1.50
52 Week Low
06/6/14 - $0.29
Market Cap
16.3M
Average Volume 10 Days
47.8K
EPS TTM
$-0.90
Shares Outstanding
39.8M
EX-Date
02/24/11
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for HORIZON LINES INC-CL A (HRZL)

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horizon lines inc-cl a (HRZL) Details

Horizon Lines, Inc., together with its subsidiaries, is engaged in Jones Act container shipping business with primary service to ports within the continental United States, Alaska, Hawaii, and Puerto Rico. The company transports a range of consumer and industrial items that are used every day, such as refrigerated and non-refrigerated foodstuffs, household goods, auto parts, building materials, and various materials used in manufacturing. It also offers vessel loading and unloading services for vessel operators at its terminals; agency services for third-party shippers lacking administrative presences; warehousing services for third-parties; and other non-transportation services. The company serves consumer and industrial products companies; and agencies of the U.S. government, including the Department of Defense and the U.S. Postal Service. It owns 13 vessels; and owns or leases approximately 22,900 cargo containers. Horizon Lines, Inc. was founded in 1956 and is headquartered in Charlotte, North Carolina.

horizon lines inc-cl a (HRZL) Top Compensated Officers

Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $370.0K
Chief Operating Officer and Executive Vice Pr...
Total Annual Compensation: $315.0K
Executive Vice President, General Counsel and...
Total Annual Compensation: $370.0K
Compensation as of Fiscal Year 2013.

horizon lines inc-cl a (HRZL) Key Developments

Horizon Lines, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 22, 2014; Provides Earnings Guidance for the Full Year of 2014

Horizon Lines, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 22, 2014. For the quarter, the company reported operating revenue of $281,237,000 compared to $259,784,000 a year ago. Operating income was $16,287,000 compared to $15,976,000 a year ago. Loss from continuing operations before income taxes was $1,472,000 compared to $846,000 a year ago. Net loss from continuing operations was $1,606,000 compared to $853,000 a year ago. Net loss was $1,612,000 compared to $1,504,000 a year ago. Basic and diluted net loss per share was $0.04 compared to $0.04 a year ago. Adjusted operating income was $18,175,000 compared to $16,455,000 a year ago. Adjusted net income from continuing operations was $387,000 compared to adjusted net loss from continuing operations of $95,000 a year ago. Adjusted net income per share from continuing operations was $0.01. Adjusted EBITDA was $31,353,000 compared to $29,206,000 a year ago. For the six months, the company reported operating revenue of $533,173,000 compared to $504,275,000 a year ago. Operating income was $7,718,000 compared to $11,679,000 a year ago. Loss from continuing operations before income taxes was $27,462,000 compared to $20,801,000 a year ago. Net loss from continuing operations was $27,879,000 compared to $20,927,000 a year ago. Net loss was $27,848,000 compared to $21,856,000 a year ago. Basic and diluted net loss per share was $0.69 compared to $0.62 a year ago. Net cash used in operating activities from continuing operations was $18,321,000 compared to net cash provided by operating activities from continuing operations of $1,135,000 a year ago. Purchases of property and equipment were $5,860,000 compared to $96,621,000 a year ago. Adjusted operating income was $11,528,000 compared to $17,514,000 a year ago. Adjusted net loss from continuing operations was $23,752,000 compared to $14,588,000 a year ago. Adjusted net loss per share from continuing operations was $0.59 compared to $0.41 a year ago. Adjusted EBITDA was $38,107,000 compared to $42,865,000 a year ago. The company provided earnings guidance for the full year of 2014. For the period, the company expects net loss from continuing operations to be in the range of $36,344,000 to $31,344,000. Net interest expense expected to be of $70,940,000. Depreciation and Amortization expected to be of $50,250,000. EBITDA expected to be in the range of $85,236,000 to $90,236,000. Adjusted EBITDA expected to be in the range of $90,000,000 to $95,000,000.

Crowley Maritime Reportedly In Talks To Acquire Horizon Lines’ Facilities

Crowley Maritime Corporation is negotiating to acquire facilities at the San Juan port, as well as the ships and routes to and from Puerto Rico from Horizon Lines, Inc. (OTCPK:HRZL) for about $80 million, Caribbean Business reported citing industry sources. The talks for the San Juan port facilities and lines are part of Horizon Lines, Inc.'s plans to sell all three of its Jones Act routes—San Juan, Alaska and Hawaii—to different buyers for each of these markets. Goldman Sachs Group Inc. is believed to be brokering the deal. Horizon Lines, Inc. and Crowley Maritime Corporation executives declined to comment on the possible acquisition.

Horizon Lines, Inc. Announces Executive Changes

On June 27, 2014, Mr. Samuel A. Woodward resigned as President and Chief Executive Officer of Horizon Lines, Inc. and resigned as a member of the company’s board of directors. Mr. Woodward’s resignations from the company were effective June 27, 2014. Following the resignation of Mr. Woodward, the Board appointed Steven L. Rubin as Interim President and Chief Executive Officer of the company. Mr. Rubin has served as a Director of the company since November 2011. He is a Principal of InterPro Advisory LLC. He has served in 2011 as the Chairman of the Board of Directors of the Intermodal Association of North America.

 

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