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NewswireTODAY - /newswire/ -
Winston-Salem, NC, United States, 2009/03/17 - SmallCapReview.com, a leading small-cap stock information site, is pleased to announce that Star Bulk Carriers (Nasdaq: SBLK) has been named as "Stock of the Month".
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Star Bulk Carriers a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and is headquartered in Athens, Greece.
Currently, Star Bulk has an operating fleet of twelve dry bulk carriers. The total fleet consists of four Capesize, and eight Supramax dry bulk vessels with an average age of approximately 9.9 years well below the industry average and a combined cargo carrying capacity of 1.1 million tons.
Net income was $50.2 million for the fourth quarter of 2008 compared to net income of $1.6 million for the fourth quarter of 2007. Earnings per share, basic and diluted for the fourth quarter of 2008 were $0.89 based on a weighted average of 56,278,511 shares outstanding, basic and diluted in the fourth quarter of 2008.
Net income was $133.7 million for the year ended December 31, 2008 compared to net income of $3.4 million for the year ended December 31, 2007. The Company's fleet contracted operating days coverage is now 93% in 2009 when taking into account time charter and COA contracts, providing significant cash flow visibility.
SmallCapReview.com is not a registered investment advisor or broker/dealer. No investor should assume that reliance on the views, opinions or recommendations contained herein will produce profitable results. Nothing within our site should be construed as an offer or solicitation to buy or sell products or securities. The companies we profile may lack an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. SmallCapReview.com may hold positions in securities mentioned herein, and may make purchases or sales in such securities featured on our website or within our reports. SmallCapReview has not been compensated by Star Bulk Carriers nor does it hold a position as of this time. SmallCapReview may decide to purchase or sell shares on a voluntary basis in the open market before, during or after the profiling period of this report.
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