Pioneer Marine Inc. fourth quarter 2016 results

By April 5, 2017 May 11th, 2019 No Comments

For the fourth quarter of 2016 the Company reported a net loss of $3.8 million, or $0.13 per share basic and diluted.

For the year ended December 31, 2016, the Company reported a net loss of $27.2 million, or $0.91 per share basic and diluted, which includes write-off of capitalised expenses and fees amounting to $11.6 million as a result of the termination of seven newbuilding contracts (“newbuilding contract termination agreement”) and non-cash impairment loss of $0.3 million. Excluding these charges, the net loss is $15.3 million or $0.51 per share basic and diluted for the year ended December 31, 2016.

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