Ultrapetrol Ltd. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013
For the full year, the company reported total revenues were $411,217,000 compared to $313,169,000 for the same period a year ago. Operating profit was $35,166,000 compared to operating loss of $25,119,000 for the same period a year ago. Income before income tax was $14,518,000 compared to loss before income tax of $65,733,000 for the same period a year ago. Net income attributable to company was $7,368,000 or $0.05 per share compared to net loss attributable to company of $63,657,000 or $1.80 per share for the same period a year ago. Net cash provided by operating activities was $19,847,000 compared to net cash used in operating activities was $3,935,000 for the same period a year ago. Purchase of vessels and equipment ($7,521 in 2013 and $10,904 in 2012 for barges built, sold and leased-back) was $130,136,000 compared to $50,920,000 for the same period a year ago. Adjusted consolidated EBITDA was $97,067,000 compared to $32,045,000 for the same period a year ago. Adjusted net income was $13,183,000 or $0.09 per share compared to adjusted net loss of $46,016,000 or $1.30 per share for the same period a year ago.