Aegean Marine Petroleum Network Inc. Announces Third Quarter EPS of $.10

Aegean Marine Petroleum Network Inc. ANW today announced financial and operating results for the third quarter ended September 30, 2010.

Third Quarter 2010 Highlights

• Increased sales volumes by 75.6% to 2,871,711 metric tons in Q3 2010, compared to 1,635,473 metric tons for Q3 2009.  
• Expanded net revenues to $60.5 million.
• Reported EBITDA (as defined in Note 1) of $14.1 million in Q3 2010; EBITDA adjusted for one-time expenses was $17.2 million.
• Reported operating income of $9.8 million.
• Reported net income of $4.6 million, or $0.10 basic and diluted earnings per share; net income adjusted for one-time expenses was $7.7 million, or $0.16 basic and diluted earnings per share.
• Further expanded global marine fuel logistics platform.
  • Completed acquisition of the Shell Las Palmas terminal in the Canary Islands, expanding global network to 16 markets covering more than 40 ports.
  • Took delivery of two double-hull bunkering tanker newbuildings in Q3 2010.