Trailer Bridge: volumes to Puerto Rico down
Puerto Rico carrier Trailer Bridge Inc. said it expects to report a fourth quarter loss of about $1.1 million compared to a loss of $67,334 in the same 2007 period.
Fourth quarter revenue is expected to be about $33.3 million, compared to $31.5 million in the fourth quarter of 2007.
Trailer Bridge gave these preliminary estimates on Friday, and is not expected to report its quarterly earnings until late February or early March.
The company said fourth quarter 2008 results will include a non-recurring charge of about $830,000 related to the resignation of John McCown as chief executive officer on Dec. 15. Exclusive of that charge, loss will be about $290,000.
Trailer Bridge said fourth quarter 2008 results were primarily impacted by lower southbound container volume during the latter part of the quarter, compared to the third quarter when it had revenue of $35.4 million.
McCown continues to serve as a director of the company.