Ship Finance International (SFL) Quarterly Income Statement

Income Statement Summary

Ship Finance International (SFL) quarterly income statement covering the six quarters from March 2012 to June 2013, as reported to the SEC.

Ship Finance International reported total operating revenues of $65.99M in the quarter ended June 30, 2013, down 21.1% from $83.63M a year earlier.
That is 1.4% higher than the March 2013 quarter.
Net operating income was $25.84M, down 61.1% from $66.39M. Operating margin was 39.2%.
Net income was $25.06M, down 59.1% from $61.23M. Net margin was 38%.
Diluted earnings per share was $0.27, down 63.5% from $0.74.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12
Operating revenues
Direct financing lease interest income - related parties
14,144	14,345	14,519	14,741	14,901	15,053	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Direct financing lease interest income - related parties						14,144	14,345	14,519	14,741	14,901	15,053	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Finance lease service revenues - related parties
13,013	13,637	15,346	16,296	16,562	16,562	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Finance lease service revenues - related parties						13,013	13,637	15,346	16,296	16,562	16,562	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Direct financing lease interest income - other
-	1,564	-	1,614	1,639	1,660	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Direct financing lease interest income - other						-	1,564	-	1,614	1,639	1,660	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Profit sharing revenues - related parties
100	-	12,097	10,162	16,312	13,605	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Profit sharing revenues - related parties						100	-	12,097	10,162	16,312	13,605	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Time charter revenues - other
18,640	20,297	17,468	14,718	14,681	13,391	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Time charter revenues - other						18,640	20,297	17,468	14,718	14,681	13,391	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Bareboat charter revenues - related parties
4,561	4,542	4,848	5,581	5,091	5,181	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Bareboat charter revenues - related parties						4,561	4,542	4,848	5,581	5,091	5,181	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Bareboat charter revenues - other
10,647	10,530	10,763	10,764	14,272	18,413	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Bareboat charter revenues - other						10,647	10,530	10,763	10,764	14,272	18,413	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other operating income
672	172	1,025	413	171	255	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other operating income						672	172	1,025	413	171	255	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating revenues
65,991	65,087	77,654	74,289	83,629	84,120	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating revenues						65,991	65,087	77,654	74,289	83,629	84,120	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gain/(loss) on sale of assets and termination of charters, net
-	18,025	21,537	1,923	21,704	2,222	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Gain/(loss) on sale of assets and termination of charters, net						-	18,025	21,537	1,923	21,704	2,222	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating expenses
Vessel operating expenses - related parties
13,653	14,216	15,850	16,761	16,968	16,876	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Vessel operating expenses - related parties						13,653	14,216	15,850	16,761	16,968	16,876	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Vessel operating expenses - other
10,245	9,115	8,894	8,603	6,174	4,788	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Vessel operating expenses - other						10,245	9,115	8,894	8,603	6,174	4,788	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation
14,304	14,033	14,225	13,583	13,533	14,261	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation						14,304	14,033	14,225	13,583	13,533	14,261	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Administrative expenses - related parties
117	116	117	119	118	117	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Administrative expenses - related parties						117	116	117	119	118	117	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Administrative expenses - other
1,827	1,851	2,224	2,014	2,153	2,080	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Administrative expenses - other						1,827	1,851	2,224	2,014	2,153	2,080	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses
40,146	39,331	41,310	41,080	38,946	38,122	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses						40,146	39,331	41,310	41,080	38,946	38,122	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net operating income
25,845	43,781	57,881	35,132	66,387	48,220	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net operating income						25,845	43,781	57,881	35,132	66,387	48,220	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Non-operating income / (expense)
Interest income - related parties, long term loans to associated companies
4,894	4,894	4,894	4,893	4,894	4,894	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income - related parties, long term loans to associated companies						4,894	4,894	4,894	4,893	4,894	4,894	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income - other
2,546	2,466	2,361	1,967	1,895	1,376	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income - other						2,546	2,466	2,361	1,967	1,895	1,376	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense - other
20,993	23,191	23,884	23,567	23,050	24,350	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense - other						20,993	23,191	23,884	23,567	23,050	24,350	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Loss)/gain on repurchase of bonds
-	-1,109	-251	-	49	80	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
(Loss)/gain on repurchase of bonds						-	-1,109	-251	-	49	80	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other than Temporary Impairment Losses, Investments
-	-	-	-	463	2,890	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other than Temporary Impairment Losses, Investments						-	-	-	-	463	2,890	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other financial items, net
5,754	-2,975	-66	5,466	295	181	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other financial items, net						5,754	-2,975	-66	5,466	295	181	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income before equity in earnings of associated companies
18,046	23,866	40,935	23,891	50,007	27,511	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income before equity in earnings of associated companies						18,046	23,866	40,935	23,891	50,007	27,511	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equity in earnings of associated companies
7,018	8,512	10,164	10,668	11,219	11,441	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equity in earnings of associated companies						7,018	8,512	10,164	10,668	11,219	11,441	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income
25,064	32,378	51,099	34,559	61,226	38,952	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net income						25,064	32,378	51,099	34,559	61,226	38,952	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Per share information:
Basic earnings per share
0.29	0.38	0.61	0.43	0.78	0.49	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Basic earnings per share						0.29	0.38	0.61	0.43	0.78	0.49	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted earnings per share
0.27	0.33	0.57	0.43	0.74	0.48	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Diluted earnings per share						0.27	0.33	0.57	0.43	0.74	0.48	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx