Updated from 5:32 p.m. EST
Eagle Bulk said that for the quarter ended Dec. 31, 2008, its net income excluding non-cash charges was $15.1 million, or 32 cents a share, which was in line with analysts' expectations. Net income for the same period in 2007 was $16.3 million, or 35 cents per share.
Fourth-quarter revenue was $62.4 million, up from $38 million from the year-ago period. Analysts had expected revenue of $58.1 million.For fiscal 2008, the firm's net income was $67.6 million, or $1.44 per share, after adjusting for one-time write-offs of deferred financing and other costs. This compares with net income of $52,243,981 or $1.24 per share, based on a weighted average of 42,195,561 diluted shares outstanding for fiscal 2007. It's been a volatile year for Eagle Bulk and other shippers including Diana Shipping (DSX), Excel Maritime (EXM), DryShips (DRYS) and Genco (GNK). The stock, which closed down 16.2% to $3.15, was up 11.1% in after-hours trading, but still leagues below its 52-week high of $36.24.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV