Danaos Corporation Reports Q4 & Full Year Results

Athens, Greece, March 17, 2011 – Danaos Corporation ("Danaos") (NYSE: DAC), an international owner of containerships, reported unaudited results for the period ended December 31, 2010.

Highlights for the Fourth Quarter and Full Year Ended December 31, 2010:

* We took delivery of one 3,400 TEU containership in October 2010, and two more newly built vessels with an aggregate carrying capacity of 13,500 TEU during 2011.
* Operating revenues of $100.5 million and $359.7 million for the three months and year ended December 31, 2010, respectively.
* Adjusted net income of $1.5 million or $0.01 per share and $27.9 million or $0.37 per share for the three months and year ended December 31, 2010, respectively.
* Adjusted EBITDA1 of $65.0 million and $243.8 million for the three months and year ended December 31, 2010, respectively.

 

Source: Danaos Corporation