This Day On The Street
Continue to site
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

Euroseas CEO Discusses Q2 2012 Results - Earnings Call Transcript

Adjusted EBITDA for the first half of 2012 was $8.3 million. We declared two quarterly dividends during the first half of 2012 for a total of $0.06 per share.

Please turn to slide four. For the last seven years we have been aiming to declare a dividend, which would present an yield of between 5% to 12%. In view of the challenging market conditions and their desire to preserve cash, to take advantage of new investment opportunities, our board decided to reduce our quarterly dividend to $0.02 per share, which however still represents a healthy annual view of about 6.8% from the basis of our stock price of $1.17 on August 8, 2012. Our intention moving forward remains continuing our policy of providing healthy dividends throughout market cycles, without compromising growth opportunities.

Please turn to slide five to review our company developments. In regards to recent feed developments we renewed the samples for three of our container vessels in the second quarter for short durations, one of which at a slightly lower rate. During the first half of 2012 the container ship market remained depressed for the size of vessels we operate and stayed very close to the low levels last seen in the beginning of 2010.

Our strategy of employing our vessels on a short period cycles during market downturns has generally worked well for us in the past. It puts us in a position to capture upside in the freight markets and thus positively impact our revenues once this occurs. On the other hand the dry bulk market, although also depressed, did not affect our revenues during the second quarter of 2012 as our vessels have sorted well into 2015.

Read the rest of this transcript for free on

3 of 3

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 -1.15%
FB $117.58 0.73%
GOOG $693.01 0.29%
TSLA $240.76 -2.81%
YHOO $36.60 0.03%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs