Last $5.77 USD
Change Today -0.06 / -1.03%
Volume 5.4K
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As of 8:04 PM 09/12/14 All times are local (Market data is delayed by at least 15 minutes).

danaos corp (DAC) Key Developments

Danaos Corporation Presents at 4th Annual Euro Pacific Capital Global Investment Conference, Sep-09-2014 10:30 AM

Danaos Corporation Presents at 4th Annual Euro Pacific Capital Global Investment Conference, Sep-09-2014 10:30 AM. Venue: Sofitel Hotel, 45 W 44th St., Midtown Manhattan, New York, New York, United States.

Danaos Corporation Elects William Repko as Class II Director

Danaos Corporation announced that at the annual meeting of stockholders held on July 25, 2014 Mr. William Repko was elected as Class II director, for a three-year term expiring at the annual meeting of stockholders in 2017.

Danaos Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Danaos Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. Operating revenues of $136.4 million for the three months ended June 30, 2014 compared to $146.6 million for the three months ended June 30, 2013, a decrease of 7.0%. Adjusted EBITDA of $99.0 million for the three months ended June 30, 2014 compared to $107.4 million for the three months ended June 30, 2013, a decrease of 7.8%. Adjusted net income of $11.6 million, or $0.11 per share, for the three months ended June 30, 2014 compared to $11.8 million, or $0.11 per share, for the three months ended June 30, 2013. Income from operations were $29 million compared to $72 million a year ago. Net income was $16.6 million or $0.15 per basic and diluted share compared to $19.5 million or $0.18 per basic and diluted share a year ago. Net cash provided by operating activities was $44 million compared to $50 million a year ago. Vessel additions and vessel acquisitions were $0.2 million compared to $16.8 million a year ago. This decrease in operating Revenue was also partially offset by a $2.1 million reduction in total fleet operating costs and a $7.9 million reduction in net finance costs mainly due to lower debt balances and interest rate swap expirations. Operating revenues of $271.9 million for the six months ended June 30, 2014 compared to $292.7 million for the six months ended June 30, 2013, a decrease of 7.1%. Adjusted EBITDA of $195.4 million for the six months ended June 30, 2014 compared to $216.0 million for the six months ended June 30, 2013, a decrease of 9.5%. Adjusted net income of $18.6 million, or $0.17 per share, for the six months ended June 30, 2014 compared to $25.7 million, or $0.23 per share, for the six months ended June 30, 2013. Income from operations were $131 million compared to $145 million a year ago. Net income was $25 million or $0.23 per basic and diluted share compared to $33 million or $0.30 per basic and diluted share a year ago. Net cash provided by operating activities was $83 million compared to $99 million a year ago. Vessel additions and vessel acquisitions were $0.6 million compared to $17.8 million a year ago. The decline in operating revenues between the two quarters mainly reflects $3 million related to softer charter market conditions and $6.1 million attributable to the reduced charter hire on six of the company's vessels following the previously announced restructuring of Zim, formalized on July 16, 2014. The company has adjusted the net income in the six months ended June 30, 2014 for unrealized gains on derivatives of $10.2 million, as well as a non-cash expense of $9.4 million for fees related to the comprehensive financing plan (comprised of non-cash, amortizing and accrued finance fees) and a gain on sale of vessels of $5.7 million.

Danaos Corporation to Report Q2, 2014 Results on Jul 28, 2014

Danaos Corporation announced that they will report Q2, 2014 results at 5:00 PM, GTB Standard Time on Jul 28, 2014

Danaos Corporation, Q2 2014 Earnings Call, Jul 29, 2014

Danaos Corporation, Q2 2014 Earnings Call, Jul 29, 2014

 

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DAC

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Valuation DAC Industry Range
Price/Earnings 21.4x
Price/Sales 1.1x
Price/Book 0.9x
Price/Cash Flow 3.8x
TEV/Sales NM Not Meaningful
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