Euroseas Ltd., an owner & operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, listed on Nasdaq (Aristides Pittas, chairman & CEO), for the 2nd Q of 2017, the company reported total net revenues of USD 10 million representing a 36.4% increase over total net revenues of USD 7.3 million during the 2nd Q of 2016.

• Net loss was USD 1 million and a net loss attributable to common shareholders was USD 1.5 million, as compared to a net loss of USD 19.2 million and a net loss attributable to common shareholders of USD 19.6 million, respectively, for the same period of 2016.

On average, 13.1 vessels were owned and operated during the 2nd Q of 2017 earning an average time charter equivalent rate of USD 8,191 per day compared to 11.4 vessels in the same period of 2016 earning on average USD 7,213 per day.

• Adjusted EBITDA for the 2nd Q of 2017 was USD 2 million compared to USD 0.9 million achieved during the 2nd Q of 2016.

For the 1st half of 2017, the company reported total net revenues of USD 18.3 million representing a 31.8% increase over total net revenues of USD 13.9 million during the 1st half of 2016, as a result of the increased average number of vessels and the increase in the average time charter equivalent rate our vessels earned.

• Net loss for the period was USD 3.2 million and a net loss attributable to common shareholders of USD 4.1 million, as compared to net loss of USD 22 million and USD 22.9 million respectively, for the 1st half of 2016.

On average, 13.3 vessels were owned and operated during the 1st half of 2017 earning an average time charter equivalent rate of USD 7,654 per day compared to 11.5 vessels in the same period of 2016 earning on average USD 6,702 per day.

• Adjusted EBITDA for the 1st half of 2017 was USD 2.2 million compared to USD 1 million achieved during the 1st half of 2016.

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