Euroseas Q4 & Year End Report
Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced its results for the fourth quarter of 2009 and year ended December 31, 2009. - Net loss of $16.3 million or $0.53 loss per share basic and diluted on total net revenues of $16.5 million. The results include a $9.0 million loss from the sale of two vessels. Excluding the effect on the losses for the quarter of the loss from the sale of the vessels as well as the effect from the unrealized losses on derivatives and trading securities and the amortization of the fair value of time charter contracts acquired…
Euroseas Nine Months, Quarter Ended Report
Euroseas Ltd. (NASDAQ: ESEA), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced its results for the three and nine month periods ended September 30, 2009. - Net income of $2.2 million or $0.07 per share basic and diluted on total net revenues of $17.2 million. Excluding the effect of unrealized gain on derivatives, unrealized loss on trading securities and amortization of the fair value of charters acquired, the net loss for the period would have been $0.3 million, or $0.01 loss per share basic and diluted. - Adjusted EBITDA was $5.0 million.