Trailer Bridge Announces Second Quarter Financial Results

Trailer Bridge, Inc. (NASDAQ Global Market: TRBR) today reported its financial results for the second quarter ended June 30, 2008 (see attached table). Revenue increased 14.7% from the prior year to $33.9 million, reflecting continued growth. Sharply higher fuel costs mitigated this growth and the second quarter operating ratio was 93.5% in 2008 versus 82.2% in 2007. The Company estimates that the net effect of fuel costs compared to the year ago second quarter negatively impacted its operating ratio by 8.7 percentage points. Operating income was $2.2 million in 2008, compared with $5.3 million in 2007. That overall reduction in operating income parallels the net detrimental effect of fuel costs, which are estimated at $2.9 million. Trailer Bridge also incurred professional costs related to the strategic alternatives process... [read full story]