Global Ship Lease, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported revenue of $36,168,000, operating income of $13,249,000, income before income taxes of $8,159,000 and net income of $8,121,000 or $0.17 per basic and diluted share against revenue of $39,714,000, operating income of $16,503,000, income before income taxes of $10,648,000 and net income of $10,860,000 or $0.23 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $14,869,000 against $11,064,000 for the same period a year ago. Adjusted EBITDA was $23,315,000 against $26,579,000 for the same period a year ago. Normalized net income was $3,471,000 against $6,811,000 for the same period a year ago.

For the year, the company reported revenue of $153,205,000, operating income of $61,832,000, income before income taxes of $32,056,000 and net income of $31,928,000 or $0.67 per basic and diluted share against revenue of $156,268,000, operating income of $49,927,000, income before income taxes of $9,145,000 and net income of $9,071,000 or $0.19 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $83,698,000 against $74,872,000 for the same period a year ago. Adjusted EBITDA was $102,175,000 against $103,703,000 for the same period a year ago. Normalized net income was $22,203,000 against $23,597,000 for the same period a year ago. Revenue was down due to lower levels of charterhire on two vessels for new charters which commenced in late September 2012.

As of March 8, 2013, Jeffrey Pribor stepped down as a Director of Global Ship Lease, Inc. in order to dedicate his time and attention to his new role at Jefferies & Co. as Global Head of Maritime Investment Banking.