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

Finance

TEN Charters Tanker at 20% Premium

Tsakos Energy Navigation Limited announces two-year charter renewal at a 20 percent premium to prior contract reflecting strong tanker market fundamental, oil price

Brent Crude Falls More than 7 Percent

Brent crude futures tumbled more than 7 percent on Tuesday, falling back below $50 a barrel as data highlighting China's contracting manufacturing sector revived

Gunvor Emerges as Winner in Rosneft's Jumbo Oil Tender

Trading house Gunvor, which has been selling assets in Russia, has again emerged as the winner of a semi-annual Rosneft tender, traders said on Tuesday.   They said Gunvor would lift from 200,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction 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: 0.1407 sec (7 req/sec)