Genco Shipping Trading Limited Announces Fourth Quarter 2012 Financial Results

Genco Shipping & Trading Limited Announces Fourth Quarter 2012 Financial 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, Feb. 20, 2013 /PRNewswire/ -- Genco Shipping & Trading Limited NYSE NYSE   See: New York Stock Exchange : GNK GNK Gekka No Kenshi anime "Genco" or the "Company" today  reported its financial results for the three and twelve months ended  December December: see month. 31, 2012.  The following financial review discusses the results for the three  months and years ended December 31, 2012 and December 31, 2011. Fourth Quarter 2012 and Year-to-Date Highlights  * Recorded net loss attributable attributable   emanating from or pertaining to attribute. attributable proportion see attributable risk below. attributable risk to Genco for the fourth quarter of  $45.7 million, or $1.06 basic and 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. loss per share;  * Maintained cash position of $82.8 million on a consolidated con·sol·i·date    v. con·sol·i·dat·ed, con·sol·i·dat·ing, con·sol·i·dates   v.tr. 1. To unite into one system or whole; combine:   basis,  including restricted cash;   * $79.5 million at Genco Shipping & Trading Limited, including  restricted cash;   * $3.3 million at Baltic Trading Limited; and   * Continued a short-term time charter strategy by fixing vessels on  spot market-related time charters with the option to convert to a fixed  rate and on short-term charters while the market remains volatile With regard to computer memory, it means "temporary" and not "highly changeable," which is the usual meaning of the word. See volatile memory. 1. programming volatile - volatile variable. 2. storage volatile - See non-volatile storage. .  Financial Review: 2012 Fourth Quarter   The Company recorded net loss attributable to Genco for the fourth  quarter of 2012 of $45.7 million, or $1.06 basic and diluted loss per  share. Comparatively, for the three months ended December 31, 2011, net income attributable to Genco was $0.3 million, or $0.01 basic and  diluted earnings per share diluted earnings per share   An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of. 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 was $12.1 million for the three months ended December 31,  2012 versus $57.3 million for the three months ended December 31,  2011. Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order 1876. Noun 1. Gerald Gerald - ["Gerald: An Exceptional Lazy Functional Programming Language", A.C. Reeves et al, in Functional Programming, Glasgow 1989, K. Davis et al eds, Springer 1990]. Buchanan, President, commented, "During the fourth quarter and full year 2012, management maintained 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.  time charter approach in a challenging drybulk market. Our  goal is to enhance future performance by employing our vessels on  short-term and spot market-related contracts that preserve the ability  to benefit from a rising freight rate Noun 1. freight rate - the charge for transporting something by common carrier; "we pay the freight"; "the freight rate is usually cheaper"  freightage, freight  environment while maintaining an  efficient cost structure. With a large and modern fleet, we are in a  strong position to capitalize on Cap´i`tal`ize on`     v. t. 1. To turn an opportunity to one's advantage; to take advantage of a situation; to profit from; as, to capitalize on an opponent's mistakes s>. the positive long-term demand for iron ore ore, metal-bearing mineral mass that can be profitably mined. Nearly all rock deposits contain some metallic minerals, but in many cases the concentration of metal is too low to justify mining the ore. , coal, steel and other core commodities and continue to provide multinational charterers with high-quality tonnage TONNAGE, mar. law. The capacity of a ship or vessel. 2. The act of congress of March 2, 1799, s. 64, 1 Story's L. U. S. 630, di Find out more on  payday loans