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

Singapore Launches OCEANS-X to Advance Maritime Digital Connectivity

Singapore Launches OCEANS-X to Advance Maritime Digital Connectivity

USACE Releases Final FY2026 Great Lakes Maintenance Program

USACE Releases Final FY2026 Great Lakes Maintenance Program

Argentina Trucker Protest Delays at Least 10 Ships at Port Waiting to Load Grain

Argentina Trucker Protest Delays at Least 10 Ships at Port Waiting to Load Grain

DSV Delivers Petrochemical Columns to ORLEN

DSV Delivers Petrochemical Columns to ORLEN

Subscribe for Maritime Logistics Professional E‑News

Alaska Air: Fuel surge puts earnings at risk as it holds fares
EU finds Chinese bidder for Lisbon subway line benefitted from unfair subsidies
Maguire: Five charts showing how the US clean electricity output continues to climb.