{"id":37973,"date":"2012-11-27T12:54:00","date_gmt":"2012-11-27T12:54:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stealthgas-gass-reports-third-quarter-and-nine-months-2012-results\/37973\/"},"modified":"2012-11-27T12:54:00","modified_gmt":"2012-11-27T12:54:00","slug":"stealthgas-gass-reports-third-quarter-and-nine-months-2012-results","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stealthgas-gass-reports-third-quarter-and-nine-months-2012-results\/37973\/","title":{"rendered":"Stealthgas &#8211; GASS &#8211; Reports Third Quarter And Nine Months 2012 Results"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><strong>Stealthgas Inc. (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=GASS\">NASDAQ: GASS<\/a>)<\/strong>, a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced its unaudited financial and operating results for the third quarter and nine months ended September 30, 2012.<\/p>\n<p><strong>GASS &#8211; Third Quarter 2012 Results: <\/strong><\/p>\n<ul>\n<li><span>Net income<\/span> for the three months ended September 30, 2012 was $6.6 million, or $0.32 per share, compared to \u00a0net income of $6.2 million, or $0.30 per share, for the three months ended September 30, 2011. Lower voyage and operating costs and higher revenues resulted in net income for the three months ended September 30, 2012 being higher than the net income for the three months ended September 30, 2011. The $0.4 million increase in net income was achieved despite a $0.4 million loss on derivatives and <a href=\"http:\/\/www.knowfinance.com\/category\/foreign-exchange\/\" target=\"_blank\" rel=\"noopener\">foreign exchange<\/a> for the three months ended September 30, 2012, compared to a $2.9 million gain on derivatives and <a href=\"http:\/\/www.knowfinance.com\/category\/foreign-exchange\/\" target=\"_blank\" rel=\"noopener\">foreign exchange<\/a> in the same quarter last year.<\/li>\n<li><span>Voyage revenues<\/span> for the three months ended September 30, 2012, amounted to $30.4 million, an increase of $2.9 million, or 10.5%, compared to voyage revenues of $27.5 million for the three months ended September 30, 2011, as a result of improving freight markets.<\/li>\n<\/ul>\n<p>An average of 37.0 vessels were owned by the Company in the three months ended September 30, 2012, compared to 36.3 vessels for the same period of 2011.\u00a0 As of today, charter coverage for the fleet is 68% through the end of 2013 and 38% through the end of 2014.<\/p>\n<p><strong>GASS &#8211; Nine Months 2012 Results: <\/strong><\/p>\n<ul>\n<li>Net income for the nine months ended September 30, 2012 was $21.2 million, or $1.03 per share, compared to a net income of $4.1 million, or $0.20 per share, for the nine months ended September 30, 2011.<\/li>\n<li><span>Voyage revenues<\/span> for the nine months ended September 30, 2012, amounted to $88.6 million, a decrease of $0.8 million, or 0.9%, compared to voyage revenues of $89.4 million for the nine months ended September 30, 2011. The decrease in revenues was firstly due to the lower number of vessels in the fleet and secondly due to more of the vessels operating under bareboat charters in the 2012 period.<\/li>\n<li><span>Voyage expenses and vessels\u2019 operating expenses<\/span> for the nine months ended September 30, 2012 were $8.8 million and $22.9 million, respectively, compared to $13.1 million and $28.8 million for the nine months ended September 30, 2011. The $4.3 million, or 32.8%, decrease in voyage expenses was due primarily to the lower number of vessels under spot charters in the 2012 period. The $5.9 million, or 20.5%, decrease in vessels\u2019 operating expenses was due primarily to the higher number of vessels operating under bareboat charters in the 2012 period.<\/li>\n<\/ul>\n<p>An average of 36.8 vessels were owned by the Company in the nine months ended September 30, 2012, compared to 37.8 vessels for the same period of 2011.<\/p>\n<p><strong>About Stealthgas Inc. &#8211; <\/strong><strong>GASS<\/strong><\/p>\n<p>Headquartered in Athens, Greece, Stealthgas Inc. (GASS) is a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry.\u00a0 STEALTHGAS INC. currently has a fleet of 33 LPG carriers with a total capacity of 161,822 cubic meters (cbm), three M.R. product tankers and one Aframax oil tanker with a total capacity of 255,804 deadweight tons (dwt). GASS has purchased four newbuilding LPG carriers with expected delivery in 2014. Once the delivery of these acquisitions is completed, GASS\u2019s fleet will be composed of 37 LPG carriers with a total capacity of 184,822 cubic meters (cbm).<\/p>\n<div class=\"nr_clear\"><\/div>\n<div id=\"nrelate_popular_2\" class=\"nrelate nrelate_popular nrelate_default nr_1col nr_text\"><\/div>\n<p>\t<!--[if IE 6]>\n\t\t<script type=\"text\/javascript\">jQuery('.nrelate_default').removeClass('nrelate_default');<\/script>\n\t<![endif]--><\/p>\n<p>\t<script type=\"text\/javascript\">\n\t\/* <![CDATA[ *\/\n\t\tnRelate.domain = \"www2.thestockmarketwatch.com%2Fstock-market-news\";\n\t\tvar entity_decoded_nr_mp_url = jQuery('<span\/>').html(\"https:\/\/web.archive.org\/web\/20121130215240\/http:\/\/api.nrelate.com\/mpw_wp\/0.51.2\/?tag=nrelate_popular&domain=www2.thestockmarketwatch.com%2Fstock-market-news&url=http%3A%2F%2Fwww2.thestockmarketwatch.com%2Fstock-market-news%2Fstealthgas-gass-reports-third-quarter-and-nine-months-2012-results%2F37973&nr_div_number=2&maxageposts=7200&increment=1\").text();\n\t\tnRelate.getNrelatePosts(entity_decoded_nr_mp_url);\n\t\/* ]]&gt; *\/\n\t<\/script>\n\n\n<div class=\"nr_clear\"><\/div>\n\n\n\n\n<!-- AddThis Button BEGIN -->\n\n\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a>\n<a class=\"addthis_button_preferred_2\"><\/a>\n<a class=\"addthis_button_preferred_3\"><\/a>\n<a class=\"addthis_button_preferred_4\"><\/a>\n<a class=\"addthis_button_compact\"><\/a>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n\n\n<script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script>\n<!-- AddThis Button END -->\n\n\n\n\n<p>More Posts by this author<\/p>\n\n\n\n<ul>\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-on-a-mixed-note-53\/38209\">\nStocks End on a Mixed Note<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-settle-lower-silver-prices-fall-sharply\/38208\">\nGold Prices Settle Lower; Silver Prices Fall Sharply<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-headed-for-a-lower-finish-48\/38206\">\nStocks Headed for a Lower Finish<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-in-red-in-mid-day-trading-12\/38205\">\nStocks in Red in Mid-Day Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/omnivision-technologies-ovti-achieved-high-end-of-its-revenues-guidance\/38193\">\nOmniVision Technologies &#8211; OVTI &#8211; Achieved high end of its revenues guidance<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/mentor-graphics-ment-reports-fiscal-third-quarter-results\/38192\">\nMentor Graphics &#8211; MENT &#8211; Reports Fiscal Third Quarter Results<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/christopher-banks-corporation-cbk-same-store-sales-increased-13-7\/38191\">\nChristopher &#038; Banks Corporation &#8211; CBK &#8211; Same-Store Sales Increased 13.7%<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20121130215240im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Stealthgas Inc. (NASDAQ: GASS), a ship-owning company primarily serving the liquefied petroleum gas (LPG) sector of the international shipping industry, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[6],"tags":[3343],"class_list":["post-37973","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hot-stocks-to-watch","tag-gass"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/37973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=37973"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/37973\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=37973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=37973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=37973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}