Euroseas Report Loss in 4Q, FY 2014

February 16, 2015

 

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 today its results for the three month period and full year ended December 31, 2014.

Total net revenues of $11.5 million. Net loss of $7.0 million; net loss attributable to common shareholders (after a $0.4 million of dividend on Series B Preferred Shares) of $7.3 million or $0.13 loss per share basic and diluted. Adjusted net loss attributable to common shareholders1 for the period was $3.8 million or $0.07 loss per share basic and diluted.
Adjusted EBITDA was 0.3 million.

An average of 15.00 vessels were owned and operated during the fourth quarter of 2014 earning an average time charter equivalent rate of $7,823 per day.

The Company declared and paid its fourth dividend of $0.4 million on its Series B Preferred Shares; the dividend was paid in-kind by issuing additional Series B preferred shares.
 

Logistics News

CMA CGM Celebrates Naming NOTRE DAME, the Largest French-Flagged Containership

CMA CGM Celebrates Naming NOTRE DAME, the Largest French-Flagged Containership

Swire Shipping Announces New Branch Office in Timor-Leste

Swire Shipping Announces New Branch Office in Timor-Leste

ICS Publications Releases 6th Edition of Environmental Compliance Shipping Guide

ICS Publications Releases 6th Edition of Environmental Compliance Shipping Guide

Fleetwork: Posidonia 2026 Signals Turning Point for Al, Cloud Adoption in Shipping

Fleetwork: Posidonia 2026 Signals Turning Point for Al, Cloud Adoption in Shipping

Subscribe for Maritime Logistics Professional E‑News

ETG, a global commodities company, enters Brazil through the Tocantins Fertilizer project
A source says that the oil production of Karachaganak in Kazakhstan has been restored.
Tagor tanker fined EUR1m by France for being linked to Russian oil