Stocks that Float: TANKERS & DRY BULK SHIPPERS

[xanadu90]

Did you see the 1Q results?

14/05-2008 07:00:00: (DESSC) 1st quarter 2008 - Record high EBIT - reduced EBITDA due to seasonal slowdown

The 1st quarter of 2008 showed similar pattern as last year; A weaker
spot market in the North Sea resulted in lower rates and utilization
levels and hence lower total revenues than the previous quarter.
Solid gain from sale of the PSV "Sea Trout" resulted in a record high
EBIT.

The Board has decided to make a 1st quarter dividend payment of $
0,13 per share equivalent to a dividend yield of 12%.

The revenues in the 1st quarter were $ 42,6 mill. compared to $24,9
mill. in the 1st quarter of 2007. The vessels' operating expenses
were $14,5 mill. ($ 7,0 mill.). EBITDA was $25,6 mill. ($16,8 mill.)
and EBIT was a record high $35,8 mill ($13,4 mill.) following a gain
on sales of $16,9 mill. most of which was related to the sale of "Sea
Trout".

Due to unrealized currency losses and unrealized changes in value of
financial derivatives the net result after taxes was $ 11,3 mill. ($
11,7 mill.).

The Company is bullish about the future market evidenced by the many
strong long term contracts done recently.

14 May 2008
Deep Sea Supply Plc

Ekstern link: http://hugin.info/136132/R/1218893/255574.pdf