Safe Bulkers, Inc. Reports Q1 2011 Results

Press Release
Wednesday, May 04, 2011

Athens, Greece – May 3, 2011 -- Safe Bulkers, Inc. (the “Company”) (NYSE: SB), an international provider of marine drybulk transportation services, announced today its unaudited financial results for the first quarter ended March 31, 2011. The Company’s Board of Directors also declared a quarterly dividend of $0.15 per share for the first quarter of 2011.

Summary of First Quarter 2011 Results

Net revenue for the first quarter of 2011 increased by 23% to $42.3 million from $34.3 million during the same period in 2010.

* Net income for the first quarter of 2011 decreased by 15% to $27.3 million from $32.1 million, which includes $15.2 million gain on sale of a vessel, during the same period in 2010.
* EBITDA1 for the first quarter of 2011 decreased by 7% to $34.4 million from $37.1 million during the same period in 2010.
* Earnings per share for the first quarter of 2011 of $0.41, calculated on a weighted average number of shares of 65,881,600, compared to $0.58 in the first quarter 2010, calculated on a weighted average number of shares of 55,435,436.
* The Company’s Board of Directors declared a dividend of $0.15 per share for the first quarter of 2011.
 

Source: http://www.safebulkers.com

Maritime Reporter October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Norvestor to Become PG’s Largest Shareholder

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS.

GasLog Closes First Option Vessels Dropdown

GasLog Ltd.  announced today the closing of the sale of two modern liquefied natural gas (“LNG”) carriers, the Methane Jane Elizabeth and Methane Rita Andrea,

Brent Holds Above $97, Eyes Worst Quarter Since 2012

Brent crude futures hovered above $97 a barrel on Tuesday, aided by firm U.S. and Chinese data, but the oil benchmark was on track for its deepest quarterly drop

 
 
Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators 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: 0.2096 sec (5 req/sec)