Marine Link
Sunday, March 18, 2018

Ultrapetrol Reports Loss

Maritime Activity Reports, Inc.

May 15, 2015

Photo: Ultrapetrol Ltd

Photo: Ultrapetrol Ltd

New York-listed ship and barge  Ultrapetrol Ltd. (ULTR) has reported a loss of $5.1 million in its first quarter.

The Nassau, Bahamas-based company said it had a loss of 4 cents per share. Losses, adjusted for non-recurring costs, were 3 cents per share.

The industrial transportation company posted revenue of $84.6 million in the period. In the final minutes of trading on Thursday, the company's shares hit $1.20. A year ago, they were trading at $2.92.

Damian Scokin, Ultrapetrol's President and Chief Executive Officer, stated, "During a first quarter of 2015 that was marked by challenging market conditions for both of our core segments, we continue to believe that there are significant opportunities to unlock Ultrapetrol's full potential. We are fully engaged in implementing strategic initiatives to achieve that goal, and those efforts have begun to gain early traction over the course of the first quarter."

 Total revenues for the first quarter of 2015 were $84.6 million as compared with $86.3 million in the same period of 2014.

Adjusted EBITDA for the first quarter of 2015 was $15.2 million as compared with $19.6 million in the same period of 2014. For a reconciliation of adjusted EBITDA to cash flows from operating activities.

Maritime Reporter Magazine Cover Mar 2018 - Annual World Yearbook

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News