World Fuel Services Q3 net income decreases

World Fuel Services, engaged in the marketing and sale of marine, aviation and land fuel products, has reported a net income of $29.1 million, or $0.97 per diluted share, for the third quarter of 2009, compared to $40.1 million, or $1.37 per diluted share, for the same period of 2008.

The company has reported revenue of $3.2 billion for the third quarter of 2009, compared to $5.45 billion for the same quarter of 2008.

World Fuel Services has reported a net income of $82.64 million, or $2.78 per diluted share, for the first nine months of 2009, compared to $76.39 million, or $2.63 per diluted share, for the corresponding period of 2008.

Year-to-date revenue was $7.75 billion, compared to $15.59 billion for the first nine months of 2008.

Paul Stebbins, chairman and CEO of World Fuel Services, said: "Our aviation segment posted strong sequential volume growth, resulting in the first year-over-year increase in five quarters and achieving volumes not seen since the second quarter of 2008. We remain focused on aggressively managing risk, improving our customer offering and enhancing our global supply relationships."

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