Star Bulk Carriers (Nasdaq: SBLK) Closed at $1.82. Announced Monday after market close its operating results for the fourth quarter and the year ended December 31, 2008.
Net income was $50.2 million for the fourth quarter of 2008 compared to net income of $1.6 million for the fourth quarter of 2007. -- Voyage and time charter revenues were $72.8 million for the fourth quarter of 2008. This figure includes revenues of $28.7 million attributable to the amortization of the fair value of below/above market acquired time charters. -- Earnings per share, basic and diluted for the fourth quarter of 2008 were $0.89 based on a weighted average of 56,278,511 shares outstanding, basic and diluted in the fourth quarter of 2008. -- Earnings per share, basic and diluted for the fourth quarter of 2008 were $0.41, excluding amortization of fair value of below/above market acquired time charters of $28.7 million and the expenses of $1.3 million relating to the amortization of stock based compensation -- EBITDA for the fourth quarter of 2008 was $ 70.3 million. Adjusted EBITDA for the same period excluding all the above point items was $42.9 million.
Net income was $133.7 million for the year ended December 31, 2008 compared to net income of $3.4 million for the year ended December 31, 2007. Star Bulk Carriers has been added to the "Focus Stock" list at SmallCapReview.com.
What They Do: Star Bulk is a global shipping company providing worldwide seaborne transportation solutions in the dry bulk sector. Star Bulk's vessels transport major bulks, which include iron ore, coal and grain and minor bulks such as bauxite, fertilizers and steel products. Star Bulk was incorporated in the Marshall Islands on December 13, 2006 and is headquartered in Athens, Greece. Its common stock and warrants trade on the Nasdaq Global Market under the symbols "SBLK" and "SBLKW" respectively. Currently, Star Bulk has an operating fleet of twelve dry bulk carriers. The total fleet consists of four Capesize, and eight Supramax dry bulk vessels with an average age of approximately 9.9 years and a combined cargo carrying capacity of 1,106,250 deadweight tons.
ChinaCast Education (Nasdaq: CAST) Closed at $2.45. Announced Monday after market close results for the full year 2008 ending December 31, 2008. ChinaCast reported total revenues of $42.1 million for the full year ended December 31, 2008, compared to $25.7 million in 2007, a 64% increase year-over-year.
Net income for 2008 was $6.3 million as compared to $8.0 million in 2007, a decrease of 22%. Adjusted net income was $12.0 million in 2008, compared to $8.1 million in 2007, an increase of 48%. Net income margin, being the percentage of net income over revenue, was 15% for 2008 compared to 31% in 2007. Adjusted net income margin, being the percentage of adjusted net income over revenue, was 29% for 2008 compared to 32% in 2007.
What They Do: ChinaCast Education Corporation is a leading for-profit, post-secondary education and e-learning services provider in China. The Company provides its post-secondary degree programs through its 80% ownership in the holding company of the Foreign Trade and Business College (or ``FTBC'') of Chongqing Normal University.
Willbros Group (NYSE: WG) Closed at $8.86. Announced Monday after market close that its Upstream segment has been awarded new projects associated with the continuing build-out of crude oil transportation systems from the oil sands in Alberta, Canada.
Willbros Canada has been awarded a contract by Enbridge Pipelines Inc to construct three additional pump stations on the Alberta Clipper pipeline system, one in Hardisty, Alberta and two in Saskatchewan province. The projects are underway now and are anticipated to be completed in the third quarter of 2009.
What They Do: Willbros Group, Inc. is an independent contractor serving the oil, gas, power, refining and petrochemical industries, providing engineering, construction, turnaround, maintenance, life cycle extension services and facilities development and operations services to industry and government entities worldwide.
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