This Day On The Street
Continue to site right-arrow
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

STEALTHGAS INC. Reports Fourth Quarter And Twelve Months 2012 Financial And Operating Results

CEO Harry Vafias commented

The fourth quarter of 2012 was our best quarter over the last four years. Our sound sale and purchase and chartering strategies combined with stronger freight markets during the winter months resulted in net income for the quarter of $7.8 million, improving on our previous quarter, but more importantly up 77.3% compared to the same quarter of last year. We have recently time chartered the Gas Monarch for six months and extended the charters on the Sir Ivor and Lyne for nine months, while we continue to have six vessels trading in the spot market where there is strong activity.

For 2012 as a whole we have witnessed every quarter our results being stronger than each respective quarter of 2011. While 2011 was a turning point for the LPG market, 2012 was a year of steady improvements. Preliminary figures suggest LPG export growth of 8% for 2012 and continuing growth over the medium term. While trade growth is the distinctive factor for improvements in seaborne trade, it is equally important that there is a balance in the supply of new ships. This is what has differentiated us from most shipping sectors, since in the LPG sector we have not witnessed over the last couple of years the relentless growth in supply of vessels that has plagued other sectors. Indeed, we believe the fundamentals for LPG continue to be favorable. As a result, we believe it is an opportune time to grow the company further and consolidate our leadership position. Moreover, we are still trading at a discount to NAV and at a small earnings multiple.

Conference Call details:

On February 21, 2013 at 11:00 am ET, the company's management will host a conference call to discuss the results and the company's operations and outlook.

Participants should dial into the call 10 minutes before the scheduled time using the following numbers: 1866 682 8490 (US Toll Free Dial In) or 0844 571 8957 (UK Toll Free Dial In).

3 of 6

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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

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
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,214.42 -10.15 -0.06%
S&P 500 2,110.74 -3.12 -0.15%
NASDAQ 4,987.89 +20.7530 0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs