Mr. Webber continued, "We are pleased to have reached agreement with the sellers of the two 4,250 TEU vessels which we were due to purchase in December 2010 and for which we did not have financing. Our proactive decision to convert the purchase of these two vessels into options eliminates any risk of not being able to perform on our purchase commitments and, crucially, provides the Company the right but not obligation to purchase the vessels in one year."
|SELECTED FINANCIAL DATA – UNAUDITED|
|(thousands of U.S. dollars except per share data)|
|Three months ended Sept 30, 2010||Three months ended Sept 30, 2009||Nine months ended Sept 30, 2010||Nine months ended Sept 30, 2009|
|Net (Loss) Income||(3,526)||(3,893)||(5,198)||30,026|
|(Loss) Earnings per A and B share||(0.06)||(0.07)||(0.10)||0.56|
|Normalised net earnings (1)||6,173||6,249||21,834||19,383|
|Normalised earnings per A and B share (1)||0.11||0.12||0.40||0.36|
|Adjusted Cash From Operations (1)||15,450||15,361||48,873||45,507|
(1) Normalized net earnings, normalized earnings per share, EBITDA 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.