Paragon Shipping Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014
For the year, the company reported net revenue of $54,764,000 compared to $56,257,000 a year ago. Operating loss was $33,831,000 compared to $2,955,000 a year ago. Net loss was $51,796,000 or $2.18 per basic and diluted share compared to $16,953,000 or $3.31 per basic and diluted share a year ago. LBITDA was $23,243,000 compared to EBITDA of $7,873,000 a year ago. Adjusted EBITDA was $2,277,000 compared to $19,657,000 a year ago. Adjusted net loss was $24,765,000 compared to $4,686,000 a year ago. Adjusted Loss per common share basic and diluted was $1.04 compared to $0.36 a year ago. For the year ended December 31, 2014, the company's net cash used in operating activities was $6.2 million, compared to net cash generated from operating activities of $4.6 million for the year ended December 31, 2013.