Marine and Aviation Segments Deliver Record Gross Profit
Thursday, August 7th, 2008World Fuel Services Corporation, a global leader in the marketing and sale of marine, aviation and land fuel products and related services, today reported second quarter GAAP net income of $20.5 million, ($0.72 and $0.71 per share on a basic and diluted basis, respectively), compared to $17.0 million ($0.61 and $0.58 per share on a basic and diluted basis, respectively), in the second quarter of 2007. Non-GAAP net income for the second quarter, which excludes share-based compensation and amortization of acquired intangible assets, was $22.8 million ($0.79 and $0.78 per share on a basic and diluted basis, respectively), compared to $18.7 million, ($0.67 and $0.64 per share on a basic and diluted basis, respectively), in the second quarter of 2007. A reconciliation of GAAP to non-GAAP results has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”