Seeking Alpha

Seaspan misses by $0.06, beats on revenue

Seaspan (SSW): Q2 EPS of $0.18 misses by $0.06.

Revenue of $167.8M beats by $0.87M. (PR)

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  • GCoutts
    , contributor
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    Three Months Ended June 30, Change
    ----------------------... ----------------------
    2013 2012 $ %
    ------------- ------------- ------------ ---------


    Earnings (loss) per
    share, diluted $ 1.35 $ (0.38) $ 1.73 455.3%
    Normalized earnings per
    share, converted(1)
    (Series A preferred
    shares converted at
    $15) $ 0.18 $ 0.35 $ (0.17) (48.6%)


    (1) Normalized net earnings and normalized earnings per share, converted, are non-GAAP measures that are adjusted for items such as interest expense, change in fair value of financial instruments, interest expense at the hedged rate, organizational development costs, gain on vessels and certain other items that Seaspan believes are not representative of its operating performance. Normalized earnings per share, converted, reflects normalized earnings per share on a pro-forma basis on the assumption that Seaspan's outstanding Series A preferred shares are converted at $15.00 per share. Please read "Reconciliation of Non-GAAP Financial Measures for the Three and Six Months Ended June 30, 2013 and 2012- Description of Non-GAAP Financial Measures - B. Normalized Net Earnings and Normalized Earnings per Share" for a description of normalized net earnings and normalized earnings per share, converted, and for reconciliations of these measures to net earnings and earnings per share, respectively.
    29 Jul 2013, 06:10 PM Reply Like
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