GOGL - Interim Results for the Quarter ended September 30, 2009
(Thomson Reuters ONE) - Golden Ocean Group Limited (the "Company" or "Golden Ocean") reportsprofit before taxation of $75.6 million and earnings per share of$0.17 for the third quarter of 2009. This compares with profit beforetaxation and earnings per share of $118.7 million and $0.43respectively for the third quarter of 2008. Total operating revenuesfor the third quarter were $113.2 million, total operating expenseswere $87.4 million and net other gain was $51.4 million. Net othergain includes the profit on sale of vessels of $53.8 million as wellas a fair value adjustment of $4.0 million on vessels held for sale(M/V Golden Joy).Cash and cash equivalents increased by $78.1 million during the firstnine months of 2009. The Company generated cash provided by operatingactivities of $107.4 million and used $100.1 million in investingactivities. Investing activities include part payments on newbuildings of $125.4 million and a sale of marketable securities of$24 million. The Company provided $70.8 million by financingactivities during the first nine months. This includes proceeds fromthe issuance of shares of $108 million, the buy back of the Company'sconvertible bond of $63.5 million, the proceeds from long term debtof $121.9 million and the repayment of debt of $86.4 million.Golden Ocean reports profit of $192.9 million for the nine monthsended September 30, 2009, equivalent to earnings per share of $0.49.At September 30, 2009 the total number of shares outstanding inGolden Ocean was 456,990,107 of $0.10 par value each.The full report is available in the enclosed attachement.November 25, 2009The 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 53http://hugin.info/135378/R/1357052/330000.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 25.11.2009 - 08:19 Uhr
Sprache: Deutsch
News-ID 8814
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