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Paragon Shipping (Nasdaq: PRGN) $4.74. Announced Tuesday after market close its results for the three months ended March 31, 2009.
The Company reported net income of $19.2 million, or $0.71 per basic and diluted share for the first quarter of 2009, calculated on 27,077,348 weighted average number of basic and diluted shares outstanding for the period and reflecting the impact of the non-cash items discussed below.
Excluding all non-cash items described below, adjusted net income for the first quarter of 2009 was $14.7 million, or $0.54 per basic and diluted share.
The Company operated 12 vessels during the first quarter of 2009, earning an average time charter equivalent rate or TCE rate, of $37,179 per day, compared to an average of 11 vessels during the first quarter of 2008, earning an average time charter equivalent rate of $39,098 per day. Please see the table at the back of this release for a reconciliation of TCE rates to time charter revenue.
Paragon Shipping is a focus stock at SmallCapReview.com.
What They Do: Paragon Shipping is an international shipping company specializing in the transportation of drybulk cargoes. The Company’s current fleet consists of twelve vessels with a total carrying capacity of 765,137 dwt.
Target Corporation (NYSE: TGT) $41.94. Today announced net earnings of $522 million for the first quarter ended May 2, 2009, compared with $602 million in the first quarter ended May 3, 2008. Earnings per share in the first quarter decreased 6.8 percent to $0.69 from $0.74 in the same period a year ago. All earnings per share figures refer to diluted earnings per share.
What They Do: Target Corporation operates general merchandise and food discount stores in the United States.
Northrop Grumman (NYSE: NOC) $48.29. Today announced its Board of Directors declared a quarterly dividend of $0.43 per share on Northrop Grumman common stock, an increase from $0.40 per share.
The company has increased its quarterly dividend in each of the last five years, and it has more than doubled since 2003.
The dividend is payable June 13, 2009, to shareholders of record as of the close of business June 1, 2009.
What They Do: Northrop Grumman Corporation is a leading global security company whose 120,000 employees provide innovative systems, products, and solutions in aerospace, electronics, information systems, shipbuilding and technical services to government and commercial customers worldwide.
Evergreen Solar (Nasdaq: ESLR) $2.24. Today announced that it has commenced a $60 million public offering of its common stock. Evergreen Solar expects to grant to the underwriter a 30-day option from the date of the final prospectus supplement to purchase up to an additional $9 million of its common stock.
What They Do: Evergreen Solar, Inc. develops, manufactures and markets String RibbonTM solar power products using its proprietary, low-cost silicon wafer technology.
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