Posted by: latoboy May 19, 2008
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8:40AM Excel Maritime Carriers beats by $0.14, beats on revs (EXM) 57.72 : Reports Q1 (Mar) earnings of $1.93 per share, $0.14 better than the
First Call consensus of $1.79; revenues rose 93.9% year/year to $69.8
mln vs the $61.8 mln consensus. "Post-merger, Excel's combined fleet
will be deployed in a more balanced employment approach. We will take
advantage of the current strong rate environment to expand our charter
coverage for 2009 and beyond to secure consistent cash flows and
ongoing profitability to our shareholders, but at the same time we will
always leave a part of our fleet to operate under short-term period
charters or in the spot market."