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

Offshore

Ocean Installer Enters Australian O&G Market

Ocean Installer’s said that it has established office in Perth, Australia to meet demand for subsea construction services.  “This is the beginning of our presence

Nordic Wins with Noble

Nordic Maritime, a leading offshore service operator, today announced a five year time charter for its DP2 IMR Subsea vessel, Mokul Nordic, which has been awarded by Noble Energy,

Pemex Suspends Eviction of Workers in Campeche

Due to the behavior shown by the low pressure system in the Gulf of Mexico, whose career was diverted in the last hours, the Technical Analysis Group Emergency

Finance

Yara Reports Strong 3Q Results

Yara International ASA delivered strong third-quarter results, with record fertilizer deliveries and continued margin benefit from lower European gas price. "Yara

Lerwick Port Awards £16.5 mi Expansion Contract

Lerwick Port Authority has awarded a construction contract for the latest expansion of the harbour’s facilities in a project costing a total of £16.5 million

PDVSA Charters Another Algerian Crude Cargo

Venezuela's state-run oil company PDVSA has hired a supertanker to load a second 2 million-barrel cargo of Algerian crude, according to preliminary tanker fixture data.

 
 
Maritime Careers / Shipboard Positions Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.1256 sec (8 req/sec)