Scorpio Tankers Inc. today reported its results for the three months and year ended December 31, 2014, the company said in its press release.
For the three months ended December 31, 2014, the Company's adjusted net income was $18.3 million, or $0.12 basic and diluted earnings per share, which excluded (i) a write down of $17.9 million, or $0.12 per share, relating to the discontinuation of equity method accounting for our investment in Dorian LPG Ltd. ("Dorian") as of October 29, 2014 and the designation of STI Harmony and STI Heritage as held for sale and (ii) an unrealized gain on derivative financial instruments of $0.1 million, or $0.00 per share.
For the three months ended December 31, 2014, the Company had net income of $0.5 million, or $0.00 basic and diluted earnings per share.
For the three months ended December 31, 2013 the Company's adjusted net loss was $14.5 million , or $0.08 basic and diluted loss per share, which excluded (i) a gain of $41.4 million, or $0.23 per share, resulting from our initial investment in Dorian, (ii) a write down of $21.2 million, or $0.12 per share, resulting from the designation of certain older vessels as held for sale and (iii) an unrealized gain on derivative financial instruments of $0.1 million, or $0.00 per share. For the three months ended December 31, 2013, the Company had net income of $5.8 million, or $0.03 basic and diluted earnings per share.