Safe Bulkers, Inc. Reports First Quarter 2012 Results and Declares Quarterly Dividend
Athens, Greece - May 8, 2012 -- Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine drybulk transportation services, announced today its unaudited financial results for the quarter ended March 31, 2012. The Company's Board of Directors also declared a quarterly dividend of $0.15 per share for the first quarter of 2012.
Summary of First Quarter 2012 Results
Net revenue for the first quarter of 2012 increased by 4% to $44.1 million from $42.3
million during the same period in 2011.
Net income for the first quarter of 2012 decreased by 21% to $21.6 million from $27.3
million, during the same period in 2011. Adjusted net income1 for the first quarter of 2012
decreased by 16% to $22.9 million from $27.4 million, during the same period in 2011.
EBITDA2 for the first quarter of 2012 decreased by 11% to $30.7 million from $34.4
million during the same period in 2011. Adjusted EBITDA1 for the first quarter of 2012
decreased by 7% to $31.9 million from $34.5 million during the same period in 2011.
Earnings per share ("EPS") and Adjusted EPS1 for the first quarter of 2012 of $0.30 and
$0.32 respectively, calculated on a weighted average number of shares of 71,868,950,
compared to $0.41 and $0.42 in the first quarter 2011, calculated on a weighted average
number of shares of 65,881,600.
The Company's Board of Directors declared a dividend of $0.15 per share for the first
quarter of 2012.
- more here:
http://www.safebulkers.com/sbpr050812.pdf
http://www.safebulkers.com/
Athens, Greece - May 8, 2012 -- Safe Bulkers, Inc. (the "Company") (NYSE: SB), an international provider of marine drybulk transportation services, announced today its unaudited financial results for the quarter ended March 31, 2012. The Company's Board of Directors also declared a quarterly dividend of $0.15 per share for the first quarter of 2012.
Summary of First Quarter 2012 Results
Net revenue for the first quarter of 2012 increased by 4% to $44.1 million from $42.3
million during the same period in 2011.
Net income for the first quarter of 2012 decreased by 21% to $21.6 million from $27.3
million, during the same period in 2011. Adjusted net income1 for the first quarter of 2012
decreased by 16% to $22.9 million from $27.4 million, during the same period in 2011.
EBITDA2 for the first quarter of 2012 decreased by 11% to $30.7 million from $34.4
million during the same period in 2011. Adjusted EBITDA1 for the first quarter of 2012
decreased by 7% to $31.9 million from $34.5 million during the same period in 2011.
Earnings per share ("EPS") and Adjusted EPS1 for the first quarter of 2012 of $0.30 and
$0.32 respectively, calculated on a weighted average number of shares of 71,868,950,
compared to $0.41 and $0.42 in the first quarter 2011, calculated on a weighted average
number of shares of 65,881,600.
The Company's Board of Directors declared a dividend of $0.15 per share for the first
quarter of 2012.
- more here:
http://www.safebulkers.com/sbpr050812.pdf
http://www.safebulkers.com/
