TBS International plc (NASDAQ:TBSI) announced its financial and operating results for the three and nine months ended September 30, 2010.
For the third quarter ended September 30, 2010, total revenues were $99.8 million, an increase of 34.3% compared to total revenues of $74.3 million for the same period in 2009.
Net loss for the third quarter 2010 was $10.4 million, after loss attributable to the non-controlling interests, which is an improvement of 42.5% compared to an $18.1 million loss for the same period in 2009.
(TBSI) is a fully-integrated transportation service company that provides worldwide shipping solutions to a diverse client base of industrial shippers. Through the TBS Five Star Service consisting of ocean transportation, operations, logistics, port services, and strategic planning, TBS offers total project coordination and door-to-door supply chain management.
The company provides scheduled voyages on trade routes between Latin America, China, Japan and South Korea as well as ports in North America and Africa.
TBS International (TBSI) has a potential upside of 39.2% based on a current price of $4.31 and an average consensus analyst price target of $6.00
In the last five trading sessions, the 50-day MA has fallen 2.52% while the 200-day MA has slid 1.01%.
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Disclosure: "No Positions"