Matson's Profit Jumps 34 Percent

Matson, a U.S. carrier in the Pacific, reported its net income in the fourth quarter of 2012 was $15.6 million, compared with $1.6 million in the fourth quarter of 2011.

Quarterly revenue was $398.3 million, improving from $374.9 million in the same quarter in 2011.

For the full year of 2012, profit was $45.9 million, rising 34 percent from $34.2 million in 2011. Annual revenue was $1.56 billion, compared with $1.46 billion in 2011.

“Continued strong Guam volume and an improved rate environment in our expedited China service led to a solid fourth quarter,” said Matt Cox, Matson’s president and CEO, in a statement. “For the year, these same factors, and continuing volume strength out of China, resulted in satisfactory performance.”