Ultrapetrol (Bahamas) Limited reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, net loss was $14.59 million compared to net income of $9.51 million a year ago. Total revenues were $99.36 million, compared to $112.59 million a year ago. Operating loss was $3.14 million compared to operating income of $14.03 million a year ago. Loss before income taxes was $14.54 million compared to Income before income taxes of $9.51 million a year ago. Adjusted consolidated EBITDA was $13.73 million, compared to $30.21 million a year ago. Adjusted net loss was $9.48 million compared to adjusted net income of $8.38 million a year ago. Adjusted LPS was $0.07 compared to Adjusted EPS of $0.06 a year ago.

For the nine months, net loss was $16.58 million compared to net income of $14.63 million a year ago. Total revenues were $285.08 million, compared to $312.26 million a year ago. Operating income was $11.90 million compared to operating income of $33.23 million a year ago. Loss before income taxes was $11.42 million compared to Income before income taxes of $19.72 million a year ago. Net cash provided by operating activities was $27.14 million, compared to $19.06 million a year ago. Purchase of vessels and equipment was $46.54 million, compared to $24.13 million a year ago. Adjusted consolidated EBITDA was $58.72 million, compared to $82.10 million a year ago. Adjusted net loss was $11.11 million compared to adjusted net income of $20.62 million a year ago. Adjusted LPS was $0.08 compared to Adjusted EPS of $0.15 a year ago.

The company expects EBITDA to be in the range of $66 million to $74 million, which will be driven by a combination of available spot rates in the North Sea and a transportation volume in the river, considering the seasonality of the fourth quarter 2014.