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

Paris MoU Tackles Fraudulent Certificates

Paris MoU Tackles Fraudulent Certificates

BHP and GCMD Trial B100 Blend in Existing Supply Chain

BHP and GCMD Trial B100 Blend in Existing Supply Chain

Lakes U.S. Limestone Trade Down in May

Lakes U.S. Limestone Trade Down in May

Ivory Coast Reports Strong Cocoa Exports Ahead of El Niño Impacts

Ivory Coast Reports Strong Cocoa Exports Ahead of El Niño Impacts

Subscribe for Maritime Logistics Professional E‑News

MSC confirms crew is safe after vessel was hit by projectiles on Monday in Iraq's Umm Qasr Port
Sources say that the CPPIB in Canada and Czech EPH are potential buyers of Uniper.
DHL Express believes that aviation fuel is secure for the summer despite Iran War