Teekay reduces deficit in 1st quarter

Canadian Teekay managed to reduce its deficit in the first three months of 2013 compared to the same period last year.

Photo: Teekay Corporation

Canadian Teekay Corp, listed at the New York Stock Exchange, presented a first quarter financial report that lived up to analysts' expectations of a reduced deficit compared to the same period last year. The adjusted deficit was USD 11.7 million, versus USD 20.8 million the previous year, according to the financial report.

The operational result remained profitable, at USD 62.79 million, with lower costs helping to reduce a decline in revenue, though the results still mark a decrease compared to the result from 2012, at USD 77.96 million.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk rejects shippers' complaint in USD 180m dispute

U Shippers has no case in a contractual dispute reported to the US Federal Maritime Commission, Maersk writes in a response to the FMC. Moreover, the case should not even be a matter for the commission, the company says.

Further reading

Related articles

Latest news

See all jobs