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Last $1.45 USD
Change Today +0.02 / 1.40%
Volume 291.5K
As of 8:04 PM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).

baltic trading ltd (BALT) Key Developments

Baltic Trading Limited Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Reports Impairment of Vessel Assets for the First Quarter Ended March 31, 2015

Baltic Trading Limited reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, revenue was $6.911 million against $13.091 million a year ago. Operating loss was $40.406 million against $2.001 million a year ago. Loss before income taxes was $42.347 million against $3.521 million a year ago. Net loss was $42.370 million or $0.75 per basic and diluted share against $3.533 million or $0.06 per basic and diluted share a year ago. Net cash used in operating activities was $0.412 million against net cash provided by operating activities of $1.422 million a year ago. LBITDA was $34.765 million against EBITDA of $3.082 million a year ago. For the first quarter, the company reported impairment of vessel assets of $30.730 million.

Baltic Trading Limited to Report Q1, 2015 Results on May 04, 2015

Baltic Trading Limited announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on May 04, 2015

Baltic Trading Limited, Q1 2015 Earnings Call, May 05, 2015

Baltic Trading Limited, Q1 2015 Earnings Call, May 05, 2015

Baltic Trading Limited Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Capital Expenditure Guidance for the First Quarter and for the Last Three Quarters of 2015

Baltic Trading Limited announced unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company recorded a net loss of $5.6 million, or $0.10 basic and diluted net loss per share. Comparatively, for the three months ended December 31, 2013, the company recorded net income of $0.6 million, or $0.01 basic and diluted earnings per share. EBITDA was $1.4 million versus $6.3 million for the three months ended December 31, 2013. The company's revenues decreased by 19% to $11.7 million compared to $14.5 million for the three months ended December 31, 2013. The decrease was primarily due to lower rates achieved by the vessels in fleet during the fourth quarter of 2014 versus the same period last year, partially offset by the increase in the size of fleet. Operating loss was $4,072,000 against operating income of $1,876,000 a year ago. Loss before income taxes was $5,601,000 against income before income taxes of $599,000 a year ago. For the year, the company recorded a net loss of $20.3 million or $0.36 basic and diluted net loss per share compared to $11.4 million or $0.36 basic and diluted net loss per share for the year ended December 31, 2013. EBITDA was $6.7 million versus $8.6 million for the year ended December 31, 2013. Net cash provided by operating activities was $1.1 million compared to $2.6 million for the twelve months ended December 31, 2013. The increases in cash provided by operating activities were offset by a $3.3 million increase in deferred drydocking costs incurred, as six of vessels were drydocked during 2014. Revenues were $45,520,000 against $35,973,000 a year ago. Operating loss was $4,072,000 against $1,876,000 a year ago. Loss before income taxes was $20,210,000 against income before income taxes of $11,358,000 a year ago. The company provided capital expenditure guidance for the first quarter and for the last three quarters of 2015. For the first quarter, the company expects capital expenditure of $1.3 million. For the last three quarters, the company expects capital expenditure of $3.3 million.

Baltic Trading Limited Omits to Pay Dividend for the Fourth Quarter of 2014

Baltic Trading Limited announced that as a result of the current market conditions, the application of the formula in policy did not result in a dividend for the fourth quarter of 2014 and the board of directors did not declare a dividend for the period ended December 31, 2014.

 

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