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

Xeneta: Weekly Ocean Container Shipping Market Update

Xeneta: Weekly Ocean Container Shipping Market Update

Argentinian Grain Ports Operate Normally Post Strike

Argentinian Grain Ports Operate Normally Post Strike

Konecranes Introduces Gottwald ESP.4 Mobile Harbor Crane

Konecranes Introduces Gottwald ESP.4 Mobile Harbor Crane

Argentine Labor Strike Hits Ports

Argentine Labor Strike Hits Ports

Subscribe for Maritime Logistics Professional E‑News

Prices in Russian ports are above EU price cap, but the urals fluctuation remains unchanged
MOL: Croatia must allow Russian oil to flow into Hungary and Slovakia
US official will tell Congress that closing El Paso Airport was not an error.