Costamare Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company’s voyage revenue was $91,536,000 against $100,031,000 a year ago. Operating income was $38,484,000 against $41,583,000 a year ago. Net income was $24,735,000 or $0.33 basic and diluted per share against $24,534,000 or $0.40 basic and diluted per share a year ago. EBITDA was $64,022,000 against $66,451,000 a year ago. Adjusted EBITDA was $61,226,000 against $67,095,000 a year ago. Adjusted net income was $21,939,000 or $0.29 per adjusted diluted share against $25,178,000 or $0.41 per adjusted diluted share a year ago. Net cash provided by operating activities was $34.9 million against $35.4 million a year ago. Net cash used in investing activities was $149.6 million which consisted of $129.2 million advance payments for the construction and purchase of three newbuild vessels, $22.2 million in payments for the acquisition of one secondhand vessel, $2.4 million advance payment the company received from the sale of one vessel for scrap which was delivered to her scrap buyers on April 24, 2013 and $0.6 million in payments for expenses related to the sale of vessel MSC Washington.

Costamare Inc., Q1 2013 Earnings Call, Apr 25, 2013

Costamare Inc. announced that they will report Q1, 2013 results at 5:00 PM, GTB Standard Time on Apr 24, 2013