Danaos Corporation yesterday reported unaudited results for the period ended September 30, 2010. According to Danaos' CEO Dr. John Coustas adjusted net income of the company for the nine months ended September 30, 2010 decreased by 52.0%, or $26.4 million compared to the nine months ended September 30, 2009. This decrease was mainly due to an increase in the realized loss on Danaos’ interest rate swap contracts recorded in the Company’s Statement of Income during the nine months ended September 30, 2010 compared to the same period of 2009, which was partially offset by increased Income from Operations.
On a non-adjusted basis, Danaos Corp. net loss was $93.5 million, or a loss of $1.45 per share, for the nine months ended September 30, 2010, compared to net income of $52.3 million, or $0.96 per share, for the nine months ended September 30, 2009.
Nine month operating revenue of the company reached $259 million, up by 10.7% year-on-year while adjusted EBITDA increased by almost 19.5% year-on-year and reached $177 million, Danaos head said.
Danaos Corporation is a leading international owner of containerships, chartering vessels to many of the world's largest liner companies. The company owns a fleet of 50 containerships aggregating 219,929 TEUs, making it among the largest container ship charter owners in the world.
Nine month operating revenue of the company reached $259 million, up by 10.7% year-on-year while adjusted EBITDA increased by almost 19.5% year-on-year and reached $177 million, Danaos head said.
Danaos Corporation is a leading international owner of containerships, chartering vessels to many of the world's largest liner companies. The company owns a fleet of 50 containerships aggregating 219,929 TEUs, making it among the largest container ship charter owners in the world.