UPDATE 1-World Fuel Services Q2 beats market view, shares up

Tue Aug 3, 2010 5:31pm EDT

* Q2 adj EPS $0.66 vs est. of $0.51

* Q2 revenue surges 74 pct

* Shares rise 4 pct after the bell

Aug 3 (Reuters) - World Fuel Services Corp (INT.N), which provides services to aircraft, ships and tanker truck loading terminals, posted second-quarter earnings that breezed past analyst estimates on higher volumes across all its segments.

In the latest quarter, the company posted a net income of $37 million, or 61 cents a share, compared with $27.7 million, or 46 cents a share, a year ago.

Excluding share-based compensation and amortization of intangible assets, the company earned 66 cents a share.

Quarterly revenue skyrocketed 74 percent to $4.4 billion, as the Miami, Florida-based company saw volumes increase in its aviation, marine and land segments.

"We saw improvements in the marine segment, which achieved the highest level of quarterly gross profit since the first quarter of 2009," Chief Operating officer Michael Kasbar said.

Analysts, on average, were looking for earnings of 51 cents a share, before items, on revenue of $4.1 billion, according to Thomson Reuters I/B/E/S.

Shares of the company rose to $26.50 in after market trade, after closing at $25.48 Tuesday on the New York Stock Exchange. (Reporting by Antonita Madonna Devotta in Bangalore; Editing by Aradhana Aravindan)

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