Nordic American Offshore Ltd. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Revenue Guidance for Third Quarter of 2018
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.