Danaos Corporation Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
February 16, 2021 at 07:30 am EST
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Danaos Corporation announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced sales was USD 119.642 million compared to USD 110.204 million a year ago. Operating income was USD 52.577 million compared to USD 49.312 million a year ago. Net income was USD 43.179 million compared to USD 33.817 million a year ago. Basic earnings per share from continuing operations was USD 2.09 compared to USD 1.83 a year ago. Diluted earnings per share from continuing operations was USD 2.07 compared to USD 1.79 a year ago. For the full year, sales was USD 461.594 million compared to USD 447.244 million a year ago. Operating income was USD 199.480 million compared to USD 201.074 million a year ago. Net income was USD 153.550 million compared to USD 131.253 million a year ago. Basic earnings per share from continuing operations was USD 6.51 compared to USD 8.29 a year ago. Diluted earnings per share from continuing operations was USD 6.45 compared to USD 8.09 a year ago.
Danaos Corporation is a holding company and an international owner of containerships, chartering its vessels to a range of liner companies. The Company's principal business is the acquisition and operation of vessels. The Company conducts its operations through the vessel owning companies, whose principal activity is the ownership and operation of containerships that are under the management of a related party of the company. The Company's manager is Danaos Shipping Company Limited (Danaos Shipping). The Company has a fleet of over 50 containerships aggregating approximately 329,590 twenty-foot equivalent units (TEUs). Its containership fleet includes approximately 53 containerships deployed on time charters and approximately two containerships deployed on bareboat charter. Gemini Shipholdings Corporation (Gemini), a company beneficially owned by the Company, owns approximately four additional containerships of over 24,000 TEU aggregate capacity.
DANAOS CORPORATION 
