STEATHGAS
3rd Q revenues increased by 24.6% to USD 28.9m
NOV, 14.2008
SteathGas Inc., listed on Nasdaq (Harry Vafias, CEO), reported for the 3 months ended September 30, 2008, voyage revenues of USD 28.9m (+24.6%), and net income of USD 5.4m (+35%). Basic and diluted earnings per share were USD 0.24 as compared to basic and diluted earnings per share of USD 0.19, for the three months ended September 30, 2007.
The company’s Board of Directors declared a quarterly cash dividend of USD 0.1875 per common share, payable on December 1, 2008 to shareholders of record on November 24.
For the 9 months of 2008, voyage revenues amounted to USD 84.4m (+32.1%) and net income was USD 22.2m, (+36.2%).
Headquartered in Athens, Greece, SteathGas Inc. is a ship-owning company serving primarily the liquefied petroleum gas (LPG) sector of the international shipping industry, and has a fleet of 38 LPG carriers with a total capacity of 170,286 cubic meters (cbm) and 2 M.R. product tankers. In addition, the company has also entered into agreements to acquire one second hand, 2 resale newbuilding LPG carriers, 5 newbuilding LPG carriers, 2 resale newbuilding M.R. Product Carrier and 2 Suezmax tankers, which will be delivered from 2008 until 2011.
