Nordic American Offshore Ltd. announced earnings results for the second quarter and six months ended June 30, 2018. For the quarter, net charter revenue of $4,201,000 compared to $3,640,000 a year ago. Net operating loss was $7,894,000 compared to $6,733,000 a year ago. Net loss was $2,195,000 compared to $1,002,000 a year ago. Basic loss per share was $0.16 compared to $0.11 a year ago. At the end of second quarter of 2018, the net debt per vessel was $11.8 million. Non-GAAP adjusted net operating loss was $3,515,000 compared to $2,776,000 a year ago.

For the six months, the company reported net charter revenue of $7,015,000 compared to $7,142,000 a year ago. Net operating loss was $16,229,000 compared to $14,179,000 a year ago. Net loss was $19,581,000 compared to $15,199,000 a year ago. Basic loss per share was $0.32 compared to $0.32 a year ago. Non-GAAP adjusted net operating loss was $7,589,000 compared to $5,629,000 a year ago. Net cash used in operating activities was $17,360,000 compared to $8,360,000 a year ago.

The revenue for third quarter of 2018 is already close to that of the entire second quarter of 2018. Company still have 5 vessels available in the spot for the remainder of the quarter, that can add additional revenue.