Stealthgas Reports 2Q Results

Tuesday, August 14, 2007
Stealthgas Inc., a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced its unaudited financial and operating results for the quarter and six months ended June 30, 2007.

For the quarter ended June 30, 2007, net revenues amounted to $19.9m and net income was $5.7m an increase of $2.7m or 15.7% and an increase of $1.1m or 23.9 percent respectively from net revenues of $17.2m and net income of $4.6m for the quarter ended June 30, 2006. Earnings per share, basic and diluted, calculated on 14,400,000 weighted average number of shares outstanding, were $0.40 for the quarter ended June 30, 2007 as compared to earnings per share of $0.33, basic and diluted, calculated on 14,000,000 weighted average number of shares outstanding for the second quarter of 2006.

An average of 29.3 vessels were owned and operated in the second quarter of 2007, earning an average time-charter-equivalent rate of approximately $7,075 per day as compared to 25.1 vessels and earning an average of $6,922 per day for the same period of 2006. For the six months ended June 30, 2007, net revenues amounted to $40.6m and net income was $12.3m an increase of $6.4 million or 18.7% and a increase of $0.7 million or 6% respectively from net revenues of $34.2 million and net income of $11.6 million for the six months ended June 30, 2006. Earnings per share, basic and diluted, calculated on 14,400,000 weighted average number of shares outstanding, were $0.85 for the six months ended June 30, 2007 as compared to earnings per share of $0.83, basic and diluted, calculated on 14,000,000 weighted average number of shares outstanding for the six months of 2006. An average of 29.9 vessels were owned and operated in the six months of 2007, earning an average time-charter-equivalent rate of approximately $7,308 per day as compared to 23.8 vessels and earning an average of $7,377 per day for the same period of 2006.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Royal IHC, Dräger join Forces

Royal IHC and Dräger have joined forces to offer the market a single source for fully integrated Diving Support Vessels. The initial focus will lie on the market segment of vessels with automated,

Seattle Gums Up Shell's Arctic Ambitions

Royal Dutch Shell's quest to return to Arctic drilling for the first time in three years could face delays after Seattle ruled that the city's port must apply for a permit before hosting rigs.

Tampnet, Marlink Partner for Offshore 4G Services

New low latency mobile communication services set to improve support of offshore vessel operations   Marlink and Tampnet have signed a partner agreement for the

Finance

Royal IHC, Dräger join Forces

Royal IHC and Dräger have joined forces to offer the market a single source for fully integrated Diving Support Vessels. The initial focus will lie on the market segment of vessels with automated,

Face Off Maersk Tigris

The Danish shipping giant Maersk Line is still trying to obtain details of the Iranian court ruling that resulted in seizing Maersk Tigris by the Iranian authorities

Indian Sailors Return Home after Five Month

Fourteen Indian troopers, who have been stranded on board an oil tanker off the coast of Bahrain since December have lastly left for home, says a report in Gulf Daily news.

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Repair Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1563 sec (6 req/sec)