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

BIMCO, ICS Report Warns of Possible Shortage of STCW Certified Officers

BIMCO, ICS Report Warns of Possible Shortage of STCW Certified Officers

France to Export Four Barley Cargoes to China

France to Export Four Barley Cargoes to China

Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Handling System

Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Handling System

Cavotec Inks Southern California Shore Power Order

Cavotec Inks Southern California Shore Power Order

Subscribe for Maritime Logistics Professional E‑News

Maguire: How to monitor the stress on European power systems during heatwaves
Former Italian railways chief begins 5-year prison term for 2009 disaster
Ukraine strikes Russian energy sites - What was hit?