Ultrapetrol Ltd. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014
For the six months, the company reported operating profit of $15,036,000, income before income taxes of $3,125,000, net loss of $1,987,000 on total revenues of $185,722,000 against operating profit of $19,203,000, income before income taxes of $10,208,000, net income of $7,632,000 on total revenues of $199,676,000 for the same period a year ago. Net cash provided by operating activities was $16,764,000 against $11,064,000 for the same period a year ago. Adjusted EBITDA was $44,994,000 against $51,891,000 for the same period a year ago. Adjusted net loss was $1,633,000 or $0.01 loss per share against adjusted net income was $12,241,000 or $0.09 per share for the same period a year ago. Purchase of vessels and equipment ($7,521 in 2013 for barges built, sold and leased-back) was $31,475,000 against $20,503,000 a year ago. LPS was $0.01 against profit of $0.05 a year ago.