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Global Ship Lease Reports Results For The Second Quarter Of 2010

Mr. Webber continued, "During the second quarter, we also strengthened our financial position. Since amending our credit facility approximately one year ago, we have paid down $46 million in debt."


(thousands of U.S. dollars except per share data)

  Three months ended Jun 30, 2010 Three months ended Jun 30, 2009 Six months ended Jun 30, 2010 Six months ended Jun 30, 2009
Revenue  39,611 36,193 78,762 71,201
Operating Income 17,438 14,304 35,843 27,723
Net (Loss) Income (4,954) 22,762 (1,672) 33,918
(Loss) Earnings per A and B share  (0.09) 0.42 (0.03) 0.63
Normalised net earnings (1) 7,500 6,110 15,661 12,957
Normalised earnings per A and B share (1) 0.14 0.11 0.29 0.24
Adjusted Cash From Operations (1) 16,399 14,840 33,259 30,145

(1) Normalized net earnings, normalized earnings per share, and adjusted cash from operations are non-US Generally Accepted Accounting Principles (US GAAP) measures, as explained further in this press release, and reconciliations are provided to the interim unaudited financial information.

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