Danaos Corporation, a leading international owner of containerships, today reported unaudited results for the period ended September 30, 2013, the company said in its press release.
Highlights for the Third Quarter and Nine Months Ended September 30, 2013:
Operating revenues of $148.4 million for the three months ended September 30, 2013 compared to $156.3 million for the three months ended September 30, 2012, a decrease of 5.1%. Operating revenues of $441.1 million for the nine months ended September 30, 2013 compared to $437.2 million for the nine months ended September 30, 2012, an increase of 0.9%.
Adjusted EBITDA1 of $109.5 million for the three months ended September 30, 2013 compared to $116.2 million for the three months ended September 30, 2012, a decrease of 5.8%. Adjusted EBITDA1 of $325.5 million for the nine months ended September 30, 2013 compared to $319.3 million for the nine months ended September 30, 2012, an increase of 1.9%.
Adjusted net income of $13.4 million, or $0.12 per share, for the three months ended September 30, 2013 compared to $15.6 million, or $0.14 per share, for the three months ended September 30, 2012. Adjusted net income1 of $39.1 million, or $0.36 per share, for the nine months ended September 30, 2013 compared to $48.8 million, or $0.44 per share, for the nine months ended September 30, 2012.
The remaining average charter duration of our fleet was 9.0 years as of September 30, 2013 (weighted by aggregate contracted charter hire).
Total contracted operating revenues were $4.5 billion as of September 30, 2013, through 2028.
Charter coverage of 89% for the next 12 months in terms of contracted operating days and 97% in terms of operating revenues.
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