OCNF $30.00 OceanFreight 3Q Profit Falls Under Views
Wednesday October 24, 6:03 pm ET
OceanFreight's 3rd-Quarter Earnings Miss Wall Street Estimates in First Full Quarter Since IPO
NEW YORK (AP) -- Greek drybulk shipper OceanFreight Inc. said Wednesday its earnings fell short of Wall Street expectations in the third-quarter, its first full quarter of operations as a public company.
The company, which had its initial public offering in May, earned $974,000, or 14 cents per share, on total revenue of $15.8 million.
Analysts were expecting a profit of 20 cents per share on revenue of $14.5 million, according to a poll by Thomson Financial.
Net voyage revenue -- or revenue less voyage expenses, a performance indicator for shipping companies -- was $13 million for the quarter.
Shares fell $1.56, or 5.2 percent, to $28.44 in aftermarket electronic trading, after closing down 45 cents to $30 during the regular session. The stock has traded between $17.35 and $30.48 since May.
OceanFreight Declares Dividend
Wednesday October 24, 6:07 pm ET
OceanFreight Declares Dividend of 51.25 Cents Per Share, Payable Nov. 15
NEW YORK (AP) -- Greek drybulk shipper OceanFreight Inc. said Wednesday its board of directors declared a quarterly dividend of 51.25 cents per share.
The dividend is payable on or about Nov. 15 to shareholders of record as of Nov. 5.
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