Ultrapetrol Limited Announces Financial Results for the First Quarter Ended March 31, 2016
Ultrapetrol (Bahamas) Limited announced financial results for the first quarter ended March 31, 2016. For the quarter, the company reported total revenues of $67.097 million against $84.573 million a year ago. Operating profit was $3.975 million against $4.813 million a year ago. Loss before income tax was $14.283 million against $5.420 million a year ago. Net loss attributable to the company was $17.100 million against $5.107 million a year ago. Net cash used in operating activities was $1.435 million against net cash provided by operating activities of $0.903 million a year ago. Purchase of vessels and equipment was $1.889 million against $9.344 million a year ago. Adjusted consolidated EBITDA was $14.258 million against $15.239 million a year ago. EPS as reported was $0.12 against $0.04 a year ago. Adjusted net loss was $17.682 million against $4.444 million a year ago. Adjusted EPS was $0.13 against $0.03 a year ago.