Ultrapetrol (Bahamas) Limited reported audited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. Total revenues for the fourth quarter of 2014 were USD 78.6 million as compared with USD 99.0 million in the same period of 2013. Adjusted consolidated EBITDA for the fourth quarter of 2014 was a loss of USD 1.6 million as compared with USD 15.0 million in the same period of 2013. For a reconciliation of adjusted consolidated EBITDA to cash flows from operating activities. Adjusted total net loss for the fourth quarter of 2014 was USD 25.6 million, or USD 0.18 per share, as compared with net loss of USD 7.4 million, or USD 0.05 per share, during the same period of 2013. Before adjusting for the effects, the recorded total net loss and net loss per share are USD 35.7 million and USD 0.25, respectively.

For the year, the company reported revenues of USD 363.675 million compared to USD 411.217 million a year ago. Operating loss was USD 13.339 million compared to operating profit of USD 35.166 million a year ago. Loss before income tax was USD 47.211 million compared to income before income tax of USD 14.518 million a year ago. Loss from continuing operations was USD 52.276 million compared to income from continuing operations of USD 7.921 million a year ago. Net loss was USD 52.276 million compared to net income of USD 7.921 million a year ago. Net loss attributable to the company was USD 52.276 million compared to net income attributable to the company of USD 7.368 million a year ago. Basic and diluted loss per share from continuing operations was USD 0.37 compared to basic and diluted income per share from continuing operations of USD 0.05 a year ago. Total cash flows provided by operating activities was USD 35.254 million compared to USD 19.847 million a year ago. Adjusted Consolidated EBITDA was USD 57.072 million compared to USD 97.067 million a year ago. Purchase of vessels and equipment was USD 59.234 million compared to USD 130.136 million a year ago. 2014, the company made new investments, this is CapEx for USD 52 million in buyers ongoing project in River business, which includes the shipyard barges built or sales during 2014, and includes USD 4.6 million in PSVs.

For 2015, CapEx would be around USD 30 million, which includes, USD 5 million for the River, another USD 5 million for PSVs, mainly spares.