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v3.7.0.1

Consolidated Statemenets of Operations - USD ($) $ in Thousands | 12 Months Ended
--- | ---
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014
REVENUES: |  |  |
Revenues | $ 113,959 | $ 132,375 | $ 159,900
Commissions | (4,187) | (5,058) | (5,806)
Net revenues | 109,772 | 127,317 | 154,094
EXPENSES: |  |  |
Voyage expenses | (7,679) | (17,856) | (19,429)
Vessel operating expenses | (49,519) | (55,469) | (50,634)
Depreciation | (49,485) | (47,133) | (43,084)
General and administrative expenses |  |  |
-Management fee to related party | (11,611) | (10,764) | (8,962)
-Public company expenses | (3,770) | (3,853) | (4,369)
Early redelivery cost, net | 0 | 0 | (532)
Loss from inventory valuation | 0 | (1,432) | (4,001)
Other operating income | 794 | 0 | 0
Gain on asset purchase cancellation | 0 | 0 | 3,633
Loss on sale of assets | (2,750) | 0 | 0
Impairment loss | (17,163) | (22,826) | 0
Operating income/(loss) | (31,411) | (32,016) | 26,716
OTHER (EXPENSE)/INCOME: |  |  |
Interest expense | (19,576) | (11,650) | (8,335)
Other finance costs | (1,735) | (242) | (1,132)
Interest income | 515 | 86 | 821
Loss on derivatives | (620) | (1,676) | (1,977)
Foreign currency gain/(loss) | (76) | 347 | 13
Amortization and write-off of deferred finance charges | (3,063) | (2,793) | (1,472)
Net income/(loss) | (55,966) | (47,944) | 14,634
Less preferred dividend | 14,025 | 14,200 | 9,390
Net income/(loss) available to common shareholders | $ (69,991) | $ (62,144) | $ 5,244
Earnings/(loss) per share in U.S.Dollars, basic and diluted | $ (0.83) | $ (0.74) | $ 0.06
Weighted average number of shares, basic and diluted | 84,526,411 | 83,479,636 | 83,446,970

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- Definition Commissions (address and brokerage) reflect payments, made to third-party brokers or our charterers, directly related to our revenues from which they are deducted, regardless of charter type, deferred and amortized over the related charter period presented as a separate line item. + References No definition available. + Details
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- Definition Loss or gain on asset purchase cancellations of newbuild contracts, loss consisting of advances forfeited plus expenses related to the cancellations and gain consisting of accrued interest income earned on the advances paid, net of capitalized expenses. + References No definition available. + Details
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- Definition Revenues generated from charterers for the time or voyage charter hire of vessels.Revenues from time charter may also include ballast bonus, which is an amount paid by the charterer for repositioning the vessel at the charterers disposal, and other miscellaneous revenues from vessel operations. + References No definition available. + Details
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- Definition Voyage expenses include costs for draft surveys, hold cleaning, postage and other minor miscellaneous expenses related to the voyage such as the United States federal income tax that is paid in respect of our U.S. source shipping income (imposed on gross income without the allowance for any deductions). + References No definition available. + Details
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