Wednesday, October 24, 2007

Arlington Tankers Slips To Loss In Q3

Arlington Tankers Slips To Loss In Q3; Declares Dividend
October 23, 2007

Arlington Tankers Ltd. reported third quarter net loss of $41 thousand, compared to a profit of $37 thousand in the earlier year quarter. On a per share basis, company reported breakeven, flat with last year.
On a non-GAAP basis, net income for the quarter was $4.91 million or $0.32 per share, in comparison with $5.23 million or $0.34 per share in the prior year quarter.

On average, 3 analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.32 per share for the quarter.

Quarterly total revenue decreased to $17.51 million from $17.60 million in the year ago quarter. Two Wall Street analysts projected revenues of $17.62 million for the quarter.

In addition, the company Board of Directors has declared a cash dividend of $0.59 per share. The dividend is payable on November 6, 2007 to shareholders of record at the close of business on November 2, 2007.

The Company expects to announce its next dividend on January 29, 2008 and to pay that dividend on or about February 12, 2008.

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