Euroseas Reports 2Q Results

Thursday, August 14, 2008

Euroseas Ltd. an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the second quarter of 2008 and six month period ended June 30, 2008.

Second Quarter 2008 Highlights:
-- Net income of $15.7 million or $0.52 per share basic and $0.51 per share diluted calculated on 30,428,810 basic and 30,554,537 diluted weighted number of shares outstanding, respectively, on total net revenues of $34.5 million. Excluding the effect on the earnings for the quarter from the amortization of the fair value of time charter contracts acquired the earnings per share for the quarter ended June 30, 2008 would have been $0.44 per share basic and diluted.
-- Adjusted EBITDA was $21.7 million.     -- An average 15.44 vessels were operated during the second quarter 2008 earning an average time charter equivalent rate of $25,918 per day.
-- Declared a quarterly dividend of $0.32 per share for the second quarter 2008 payable on September 17, 2008 to shareholders of record on September 5, 2008.

 

Euroseas Ltd. an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the second quarter of 2008 and six month period ended June 30, 2008.
Second Quarter 2008 Highlights:
-- Net income of $15.7 million or $0.52 per share basic and $0.51 per share diluted calculated on 30,428,810 basic and 30,554,537 diluted weighted number of shares outstanding, respectively, on total net revenues of $34.5 million. Excluding the effect on the earnings for the quarter from the amortization of the fair value of time charter contracts acquired the earnings per share for the quarter ended June 30, 2008 would have been $0.44 per share basic and diluted.
-- Adjusted EBITDA was $21.7 million.     -- An average 15.44 vessels were operated during the second quarter 2008 earning an average time charter equivalent rate of $25,918 per day.
-- Declared a quarterly dividend of $0.32 per share for the second quarter 2008 payable on September 17, 2008 to shareholders of record on September 5, 2008.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

DryShips: Public Offering of Its Senior Secured Notes

DryShips Inc. announced today that it intends to offer senior secured notes due 2017 (the “Notes”) pursuant to its effective shelf registration statement. The Company

DOF Installer Sells Offshore Vessel

DOF Subsea AS subsidiary, DOF Installer ASA, reported the sale of one of its three sister ships, an anchor handling tug supply (AHTS) vessel, to an international buyer.

Port City Plans for New Cargo Taxes Angers Kenya Govt, Shippers

Proposals by a local authority to impose new taxes on cargo at Kenya's main port has drawn opposition from the government and shippers, saying it will hike import

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1731 sec (6 req/sec)