Eagle Bulk Shipping Inc Reports Fourth Quarter and Fiscal Year 2012 Results

Eagle Bulk Shipping Inc. Reports Fourth Quarter and Fiscal Year 2012 Results. NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean E, New Jersey and Pennsylvania S, Lakes Erie and Ontario and the Canadian province of, April 1, 2013 /PRNewswire/ -- Eagle Bulk Shipping Inc. Nasdaq: EGLE EGLE Every Ghanaian Living Everywhere Ghana today announced its results for the fourth quarter and fiscal year ended December December: see month. 31, 2012.  For the Fourth Quarter:   * Net reported loss of $32.4 million or $1.92 per share based on a weighted average of 16,849,175 diluted di·lute   tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. shares outstanding for the quarter, compared to net loss of $1.7 million, or $0.11 per share, for the comparable quarter of 2011. * Net revenues of $42.8 million, compared to $70.0 million for the comparable quarter in 2011. Gross time charter and freight The price or compensation paid for the transportation of goods by a carrier. Freight is also applied to the goods transported by such carriers. The liability of a carrier for freight damaged, lost, or destroyed during shipment is determined by contract, statute, or revenues of $44.6 million, compared to $71.7 million for the comparable quarter of 2011. * EBITDA Earnings Before Interest, Taxes, Depreciation and Amortization A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become, as adjusted for exceptional items under the terms of the Company's credit agreement, was $9.7 million for the fourth quarter of 2012, compared to $30.0 million for the fourth quarter of 2011. * Fleet utilization utilization, n 1. the extent to which a given group uses a particular service in a specified period. Although usually expressed as the number of services used per year per 100 or per 1000 persons eligible for the service, utilization rates may be rate of 99.4%. For the Fiscal Year 2012:  * Net reported loss of $102.8 million or $6.30 per share based on a weighted average of 16,328,132 diluted shares outstanding for the year, compared to net loss of $14.8 million, or $0.95 per share, for the comparable year of 2011. * Net revenues of $190.8 million, compared to $313.4 million for the comparable year of 2011. Gross time charter and freight revenues of $198.8 million, compared to $327.2 million for the comparable year of 2011. * EBITDA, as adjusted for exceptional items under the terms of the Company's credit agreement, was $46.0 million for the year of 2012, compared to $108.9 million for the year of 2011. * Fleet utilization rate of 99.3%. Sophocles Sophocles sŏf`əklēz, c.496 B.C.–406 B.C., Greek tragic dramatist, younger contemporary of Aeschylus and older contemporary of Euripides, b. Colonus, near Athens. N. Zoullas, Chairman and CEO 1 Chief Executive Officer The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , commented, "Amid ongoing challenges in the dry bulk market, Eagle Bulk continues to execute To run a program, which causes the computer to carry out its instructions. See executable code, instruction and EXE file. execute - execution  an opportunistic opportunistic /op·por·tu·nis·tic/ op?er-tldbomacn-is´tik 1. denoting a microorganism which does not ordinarily cause disease but becomes pathogenic under certain circumstances.  2., short-term chartering strategy. This approach maximizes revenue upside Upside  The potential dollar amount by which the market or a stock could rise.  Notes: This is basically an educated guess on how high a stock could go in the near future. See also: Bull, Downside  while ensuring Eagle Bulk is well-positioned when the market improves. At the same time, management has successfully reduced costs while maintaining operational excellence across the board." Subsequent Event  On January January: see month. 3, 2013, a comprehensive termination The point where a line, channel or circuit ends. See SCSI termination and hybrid. agreement between the Company and KLC KLC Kodiak Launch Complex KLC Kentucky League of Cities Lexington, Kentucky KLC Kashmir Liberation Cell KLC King Ling College Hong Kong KLC Key Logistics Corporation KLC Kosova Law Centre became effective, pursuant to which we agreed to accept $63.7 million on an installment note An installment note is a form of promissory note calling for payment of both principal and interest in specified amounts, or specified minimum amounts, at specific time intervals. This periodic reduction of principal amortizes the loan. Find out more on instant pay day loans