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UNAUDITED QUARTERLY RESULTS OF OPERATIONS | 12 Months Ended
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Dec. 31, 2017
UNAUDITED QUARTERLY RESULTS OF OPERATIONS |
UNAUDITED QUARTERLY RESULTS OF OPERATIONS | 20 - 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.
|  | 2017 |
|  | Quarter Ended (2) |
(In thousands, except share and per share amounts) |  | March 31, |  | June 30, |  | September 30, |  | December 31, |
Voyage Revenues |  | $ | 38,249 |  | $ | 45,370 |  | $ | 51,161 |  | $ | 74,918 |
Operating (loss) income |  |  | (8,570) |  |  | (7,237) |  |  | (23,782) |  |  | 9,973 |
Net (loss) income |  |  | (15,600) |  |  | (14,513) |  |  | (31,182) |  |  | 2,569 |
Net (loss) earnings per share - basic (1) |  | $ | (0.47) |  | $ | (0.42) |  | $ | (0.90) |  | $ | 0.07 |
Net (loss) earnings per share - diluted (1) |  | $ | (0.47) |  | $ | (0.42) |  | $ | (0.90) |  | $ | 0.07 |
Weighted average common shares outstanding - basic |  |  | 33,495,738 |  |  | 34,430,766 |  |  | 34,469,998 |  |  | 34,559,830 |
Weighted average common shares outstanding - diluted |  |  | 33,495,738 |  |  | 34,430,766 |  |  | 34,469,998 |  |  | 34,682,302 |
|  | 2016 |
|  | Quarter Ended (2) |
(In thousands, except share and per share amounts) |  | March 31, |  | June 30, |  | September 30, |  | December 31, |
Voyage Revenues |  | $ | 20,131 |  | $ | 31,460 |  | $ | 37,871 |  | $ | 43,785 |
Operating loss |  |  | (46,960) |  |  | (100,766) |  |  | (20,115) |  |  | (18,634) |
Net loss |  |  | (54,483) |  |  | (110,653) |  |  | (27,514) |  |  | (25,104) |
Net loss per share - basic (1) |  | $ | (7.55) |  | $ | (15.32) |  | $ | (3.80) |  | $ | (3.43) |
Net loss per share - diluted (1) |  | $ | (7.55) |  | $ | (15.32) |  | $ | (3.80) |  | $ | (3.43) |
Weighted average common shares outstanding - basic |  |  | 7,218,795 |  |  | 7,221,735 |  |  | 7,245,268 |  |  | 7,318,452 |
Weighted average common shares outstanding - diluted |  |  | 7,218,795 |  |  | 7,221,735 |  |  | 7,245,268 |  |  | 7,318,452 |
| (1) |  | Amounts may not total to annual loss because each quarter and year are calculated separately based on basic and diluted weighted-average common shares outstanding during that period.
| (2) |  | Amounts may not total to annual amounts for the years ended December 31, 2017 and 2016 as reported in the Consolidated Statements of Operations due to rounding.

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