Safe Bulkers, Inc., an international provider of marine drybulk transportation services, announced today its unaudited financial results for the three- and six- months period ended June 30, 2013, said in the company's press release. The Company’s Board of Directors also declared a quarterly dividend of $0.05 per share of common stock for the second quarter of 2013.
Summary of Second Quarter 2013 Results:
Net revenue for the second quarter of 2013 decreased by 12% to $41.4 million from $47.0 million during the same period in 2012.
Net income for the second quarter of 2013 increased by 14% to $24.6 million from $21.5 million, during the same period in 2012. Adjusted net income 1 for the second quarter of 2013 decreased by 36% to $15.1 million from $23.7 million, during the same period in 2012.
EBITDA 2 for the second quarter of 2013 increased by 14% to $36.1 million from $31.6 million during the same period in 2012. Adjusted EBITDA 1 for the second quarter of 2013 decreased by 21% to $26.6 million from $33.7 million during the same period in 2012.
Earnings per share (“EPS”) and Adjusted EPS 1 for the second quarter of 2013 of $0.32 and $0.19 respectively, calculated on a weighted average number of shares of 76,679,328, compared to $0.28 and $0.31 in the second quarter 2012, calculated on a weighted average number of shares of 76,653,848.
The Company’s Board of Directors declared a dividend of $0.05 per share of common stock for the second quarter of 2013.
