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UNAUDITED QUARTERLY RESULTS OF OPERATIONS
 12 Months Ended
Dec. 31, 2012
UNAUDITED QUARTERLY RESULTS OF OPERATIONS  
UNAUDITED QUARTERLY RESULTS OF OPERATIONS

24 — UNAUDITED QUARTERLY RESULTS OF OPERATIONS

 

In the opinion of the Company’s management, all adjustments, consisting of normal recurring accruals considered necessary for a fair presentation have been included on a quarterly basis.

 

 

 

2012 Quarter Ended

 

2011 Quarter Ended

 

 

 

Mar 31

 

Jun 30

 

Sept 30

 

Dec. 31

 

Mar 31

 

Jun 30

 

Sept 30

 

Dec. 31

 

 

 

(In thousands, except share and per share amounts)

 

Revenues

 

$

59,844

 

$

62,931

 

$

54,431

 

$

49,247

 

$

101,429

 

$

99,330

 

$

94,312

 

$

97,143

 

Operating (loss) income

 

(12,521

)

(10,433

)

(20,194

)

(26,197

)

33,734

 

31,616

 

23,340

 

23,949

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income

 

(36,383

)

(30,492

)

(42,037

)

(48,864

)

12,171

 

9,828

 

1,417

 

1,652

 

Net (loss) income attributable to noncontrolling interest

 

(3,312

)

(2,751

)

(3,588

)

(3,197

)

(1,255

)

(262

)

(145

)

1,344

 

Net (loss) income attributable to Genco Shipping & Trading Limited

 

(33,071

)

(27,741

)

(38,449

)

(45,667

)

13,426

 

10,090

 

1,562

 

308

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net (loss) income per share - Basic (2)

 

$

(0.87

)

$

(0.65

)

$

(0.90

)

$

(1.06

)

$

0.38

 

$

0.29

 

$

0.04

 

$

0.01

 

Net (loss) income per share - Diluted (2)

 

$

(0.87

)

$

(0.65

)

$

(0.90

)

$

(1.06

)

$

0.38

 

$

0.29

 

$

0.04

 

$

0.01

 

Dividends declared and paid per share(1) 

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

$

—

 

Weighted average common shares outstanding - Basic

 

38,090,590

 

42,878,228

 

42,885,810

 

43,026,657

 

35,142,110

 

35,150,352

 

35,157,110

 

35,266,283

 

Weighted average common shares outstanding - Diluted

 

38,090,590

 

42,878,228

 

42,885,810

 

43,026,657

 

35,218,699

 

35,204,649

 

35,218,840

 

35,395,190

 

 

 

(1)          Does not include cash dividends paid by Baltic Trading.

(2)          The sum of the quarterly basic and diluted net (loss) income per share does not equal the total annual basic and diluted net (loss) income per share due to rounding.