Diana Shipping beats by $0.01, beats on revs
Reports Q1 (Mar) a loss of ($0.08) per share, $0.01 better than the Capital IQ Consensus of ($0.09); revenues fell 3.4% year/year to $41.1 mln vs the $40.6 mln consensus.
- Time charter revenues were $41.1 mln for the first quarter of 2014, compared to $42.6 mln for the same period of 2013, mainly due to reduced time charter rates.
- The decrease in time charter revenues was partly offset by revenues derived from the increase in ownership days resulting from the enlargement of our fleet.
- Co reported time charter charter equivalent rates for Q1 at $11,820/day, below last year's rate of $14,398/day.