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

Ardmore Shipping Corporation Announces Financial Results For Year And Fourth Quarter 2013

Company

On February 7, 2014, the Company obtained a permit from the Ministry of Finance in Bermuda to open an executive office at 69 Pitts Bay Road, Pembroke, HM 08, Bermuda. The Company’s operating office will continue to be located in Ireland, through our wholly owned subsidiary, Ardmore Shipping Limited, with offices at City Gate Building 1000, Mahon Cork, Ireland.

Dividend

On January 15, 2014, Ardmore’s Board of Directors announced a cash dividend of $0.10 per share for the quarter ended December 31, 2013. The cash dividend is payable on February 14, 2014 to all shareholders of record on January 31, 2014.

Results for the twelve months ended December 31, 2013 and 2012

For the twelve months ended December 31, 2013, the Company reported EBITDA (see Non-GAAP Measures section below) of $9.5 million, an increase of $4.4 million from $5.1 million for the twelve months ended December 31, 2012. The Company had a net loss of $3.8 million for the twelve months ended December 31, 2013, as compared to a net loss of $4.5 million for the twelve months ended December 31, 2012.

For the twelve months ended December 31, 2013, the Company had an adjusted EBITDA (see Non-GAAP Measures section below) of $10.8 million as compared to $5.1 million for the twelve months ended December 31, 2012. The Company had an adjusted net loss (see Non-GAAP Measures section below) of $2.4 million, or $0.13 basic and diluted adjusted loss per share for the twelve months ended December 31, 2013. This excludes $0.7 million of non-recurring fees and expenses incurred in connection with our IPO, $0.6 million of share based compensation (non-cash) and $0.2 million of deferred finance fees written off in relation to the repayment of senior loan facilities on two vessels. This compared to an adjusted net loss of $4.5 million for the twelve months ended December 31, 2012, or $0.25 basic and diluted adjusted loss per share. The number of shares used in determining adjusted loss per share was 18,050,000, which is the full number of issued shares at the IPO date.

2 of 9

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
SYM TRADE IT LAST %CHG

Markets

DOW 18,285.74 +0.34 0.00%
S&P 500 2,130.82 +4.97 0.23%
NASDAQ 5,090.7940 +19.0510 0.38%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs