News

10/11/2015

Diana Containerships Inc. Reports Financial Results for the Third Quarter and Nine Months Ended September 30, 2015; Declares Cash Dividend of $0.0025 per Share for the Third Quarter

ATHENS, GREECE, November 10, 2015 – Diana Containerships Inc. (NASDAQ: DCIX), (the “Company”), a global shipping company specializing in the ownership of containerships, today reported a net loss of $9.1 million for the third quarter of 2015, compared to net income of $1.4 million for the respective period of 2014. The loss for the third quarter was mainly the result of $8.3 million of direct sale and other charges associated with the disposal of the vessel Garnet, without which the result for the third quarter of 2015 would have been a net loss of $0.8 million.

Time charter revenues, net of prepaid charter revenue amortization, were $16.1 million for the third quarter of 2015, compared to $13.0 million for the same period of 2014, mainly due to the enlargement of our fleet resulting from the acquisition of six vessels from September 2014 to September 2015, partly offset by reduced time charter rates and increased off-hire days.

Net loss for the nine months ended September 30, 2015, amounted to $8.7 million, compared to net income of $2.4 million for the same period of 2014. The loss for the period ended September 30, 2015, was mainly the result of the direct sale and other charges of $8.3 million for the vessel Garnet, without which the result for the period would have been a net loss of $0.4 million. Time charter revenues, net of prepaid charter revenue amortization, for the nine months ended September 30, 2015, amounted to $47.3 million, compared to $39.0 million for the same period of 2014.

Dividend Declaration

The Company has declared a cash dividend on its common stock of $0.0025 per share with respect to the third quarter of 2015. The cash dividend will be payable on or around December 9, 2015 to all shareholders of record as at November 24, 2015. As of September 30, 2015, the Company had 73,890,581 shares of common stock issued and outstanding...
 

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