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General Maritime earnings, revenue decline from year ago levels


Published : Wed, 31 Oct 2007 21:53
By : Agencies
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NEW YORK (Thomson Financial) - General Maritime Corp. reported third-quarter earnings of $10.9 million, or 35 cents a share.

The mean estimate of analysts surveyed by Thomson Financial was for earnings of 32 cents a share.

Earnings declined from $24 million, or 76 cents a share, in the same period a year ago, primarily because of a lower rate environment.

Net voyage revenue fell to $49.1 million from last year's $55.9 million, compared with analyst forecasts of $51.7 million.

The New York crude oil shipping company's stock closed Wednesday's regular session at $28.18.

Tomi Kilgore

tk1

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Copyright Thomson Financial News Limited 2007. All rights reserved.

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