This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Overseas Shipholding Group Reports First Quarter 2011 Results

Consolidated Statements of Operations

($ in thousands, except per share amounts)   Three Months Ended March 31,
2011   2010
Shipping Revenues:
Pool revenues $77,217 $108,584
Time and bareboat charter revenues 60,456 65,546
Voyage charter revenues 125,995 95,624
Total Shipping Revenues 263,668 269,754
Operating Expenses:
Voyage expenses 57,106 39,893
Vessel expenses 69,409 64,074
Charter hire expenses 95,350 90,614
Depreciation and amortization 42,308 41,926
General and administrative 24,468 26,829
Shipyard contract termination recoveries

-
(231)
Loss on disposal of vessels, including impairments in 2010 868 2,256
Total Operating Expenses 289,509 265,361
(Loss) / Income from Vessel Operations (25,841) 4,393
Equity in Income / (Loss) of Affiliated Companies 5,642 (2,298)
Operating (Loss) / Income (20,199) 2,095
Other Income / (Expense) 1,824 (146)
(18,375) 1,949
Interest Expense (17,739) (12,294)
Loss before Income Taxes (36,114) (10,345)
Income Tax Benefit 1,556 992
Net Loss $(34,558) $(9,353)
 
Weighted Average Number of Common Shares Outstanding:
Basic 30,210,882 27,760,420
Diluted 30,210,882 27,760,420
Per Share Amounts:
Basic $(1.15) $(0.34)
Diluted $(1.15) $(0.34)
Cash dividends declared $0.4375 $0.4375

4 of 11

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,596.35 -350.33 -1.95%
S&P 500 2,057.64 -43.85 -2.09%
NASDAQ 4,958.4680 -122.0370 -2.40%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs