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

Report Details Four Ship Breakaways During Storm

Report Details Four Ship Breakaways During Storm

Consortium to Advance e-Fuel Green Corridor Between Brazil and Belgium

Consortium to Advance e-Fuel Green Corridor Between Brazil and Belgium

Panama Canal Reduces Maximum Vessel Draft for Neopanamax Locks

Panama Canal Reduces Maximum Vessel Draft for Neopanamax Locks

Maritime Drone Self-Detonates in Constanta Port

Maritime Drone Self-Detonates in Constanta Port

Subscribe for Maritime Logistics Professional E‑News

Breeze Airways, a US low-cost carrier, sets its sights on the 2027 IPO
In a bus accident and fire near Nassiriya, at least 21 Iraqis were killed and 19 injured
Ethiopia Airlines to make decision on regional jets in the next three weeks