Canada: British Columbia Ferry Services (BC Ferries) has announced its second quarter results with net earnings of US$60 million and US$56.6 million for the three- and six-month periods ended September 30, 2009, up from US$50.2 million for the three-months ended September 30, 2008 and down from US$58 million for the six-months ended September 30, 2008.

During the second quarter, vehicle and passenger traffic increased by 4.3 percent and 1.7 percent respectively over the same period last year.

During the quarter, BC Ferries provided over 48,000 sailings, carrying 7.2 million customers and 2.7 million vehicles.  

Total revenue for the three-month period ended September 30, 2009, an increase from

US$216.9 million to US$235.3 million, while operating expenses increased from US$155 million to US$159.2 million, compared with the same period last year.  

For the six-month period ended September 30, 2009, total revenue was US$401.9 million compared with US$377.6 million for the six months ended September 30, 2008.  

Operating expenses for the same six-month period were US$314.9 million, up from US$298.5 million in the prior year.  

“In this period of economic uncertainty, we must continue to manage our business in a fiscally prudent manner,” said BC Ferries CEO, David Hahn.