Navigator Holdings Ltd (NVGS)

[eastunder]

5/6/14

Navigator Holdings Ltd. Announced its First Quarter 2014 Results


May 6, 2014 4:15 PM EDT

LONDON, May 6, 2014 /PRNewswire/ --

Navigator Holdings Ltd. ("Navigator") (NYSE: NVGS), the owner and operator of the world's largest fleet of handysize liquefied gas carriers, announced today its financial and operating results for the three months ended March 31, 2014.

Highlights

Navigator Holdings Ltd. (NYSE: NVGS) reports revenue of $69.8 million for the first quarter ended March 31, 2014, an increase of 65% from revenue of $42.3 million for the first quarter of 2013, primarily as a result of the increase in the number of vessels in our fleet

Net income increased to $16.9 million for the first quarter ended March 31, 2014, compared to $7.6 million for the first quarter of 2013

EBITDA[1] increased to $35.9 million for the three months ended March 31, 2014 from $20.7 million for the three months ended March 31, 2013

Earnings per share increased to $0.31 for the three months ended March 31, 2014 from $0.18 for the three months ended March 31 2013, based on a significantly increased number of shares outstanding
Exercises an option to build an additional three 35,000 cubic meter ethylene/ethane capable semi-refrigerated liquefied gas carriers in April 2014

Thirteen newbuilding semi-refrigerated gas carriers on order, scheduled for delivery between June 2014 and December 2016