GOGL - Preliminary Fourth Quarter and Financial Year 2009 Results
(Thomson Reuters ONE) - Golden Ocean Group Limited (the "Company" or "Golden Ocean") reports profit of$24.1 million and earnings per share of $0.05 for the fourth quarter of 2009.This compares with profit and earnings per share of $6.7 million and $0.02respectively for the fourth quarter of 2008. Total operating revenues for thefourth quarter were $83.7 million, total operating expenses were $57.5 millionand net other loss was $0.2 million.Cash and cash equivalents increased by $40.1 million during 2009. The Companygenerated cash from operating activities of $114.2 million and used $148.0million in investing activities. Investing activities include part payments onnew buildings of $177.5 million and a sale of marketable securities of $24million. The Company generated $73.9 million from financing activities duringthe year. This includes proceeds from the issuance of shares of $108 million,the buy back of the Company's convertible bond of $72.1 million, the proceedsfrom long term debt of $141.7 million and the repayment of debt of $93.7million.Golden Ocean reports profit of $217.0 million for the year ended December31, 2009, equivalent to earnings per share of $0.53.At December 31, 2009 the total number of shares outstanding in Golden Ocean was456,990,107 of $0.10 par value each.The full report is available in the link below.February 11, 2010The Board of DirectorsGolden Ocean Group LimitedHamilton, BermudaQuestions should be directed to:Herman Billung: CEO Golden Ocean Management AS+47 22 01 73 40Geir Karlsen: CFO Golden Ocean Management AS+47 22 01 73 53This information is subject of the disclosure requirements acc. to §5-12 vphl(Norwegian Securities Trading Act)[HUG#1383318] Q4 2009 Results: http://hugin.info/135378/R/1383318/342187.pdf
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Datum: 11.02.2010 - 02:16 Uhr
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