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Wed 11 Aug 2010, 10:07 GMT

Aegean market consensus at $0.38 a share


Market estimates within a range of $0.12 per share ahead of Aegean's second quarter results.



Shares of NYSE-listed bunker supplier Aegean Marine Petroleum Network Inc. closed down 1.45 percent yesterday ahead of the release of its second quarter results, expected to be announced later today.

Market estimates have a range of $0.12 a share, with the low estimates looking at a profit of $0.32 per share and high estimates calling for a profit of $0.44 a share.

Wall Street analysts consensus is therefore estimating a profit of $0.38 a share on $1.17 billion revenue.

During the corresponding three-month period last year Aegean posted a 65 percent year-on-year increase in net income of $16.3 million, or $0.38 basic and diluted earnings per share. Net income, adjusted for a $4.2 million gain from sale of vessels, was $12.1 million, or $0.29 basic and $0.28 diluted earnings per share.

Total revenues for the three months ended June 30, 2009, decreased by 26.8 percent to $542.6 million compared to $741.0 million for the same period in 2008.

During the first three months of 2010, Aegean recorded a $9.7 million year-on-year rise in net income to $14.1 million from $4.4 million during the corresponding period in 2009. Total revenues during this period surged by 130.8 percent to $843.4 million from $365.4 million during the first three months in 2009.

Aegean plans to hold a conference call and webcast on Thursday, August 12, 2010 at 8:30 a.m. Eastern Time, to discuss the company's second quarter results.

There are two ways to access the conference call:

*Dial: +1 800 848 4710 or +1 719 325 2189; Passcode: 2034148. Please dial in at least 10 minutes prior to 8:30 a.m. Eastern Time to ensure a prompt start to the call.

*Live Internet webcast and slide presentation: http://www.ampni.com.

If you are unable to participate at this time, a replay of the call will be available up until Thursday, August 26, 2010 at +1 888 203 1112 or +1 719 457 0820. Enter the code 2034148 to access the audio replay.

The webcast will also be archived on the company's website at http://www.ampni.com.


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