Danaos Corporation (DAC) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $0.43 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.41. The company posted revenue of $137.47 million in the period, compared to analysts expectations of $136.83 million. The company’s revenue was down -.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS.
Danaos Corporation closed down -0.19 points or -4.81% at $3.76 with 79,037 shares getting traded on Monday. Post opening the session at $3.99, the shares hit an intraday low of $3.76 and an intraday high of $3.99 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
Danaos Corporation is a holding company and an international owner of containerships chartering its vessels to a range of liner companies. The Company’s principal business is the acquisition and operation of vessels. It conducts operations through vessel owning companies which own and operate containerships. It has a fleet of approximately 59 containerships aggregating approximately 351700 twenty-foot equivalent units (TEUs) which are deployed on time charters and approximately two containerships deployed on bareboat charter. The average age (weighted by TEU) of the 59 vessels in its containership fleet was approximately 6.6 years. Its containerships are deployed under multi-year fixed-rate time charters having initial terms that range from less than one to 18 years. It deploys containership fleet under multi-year charters with liner companies that operate scheduled routes between commercial ports. Its manager is Danaos Shipping Company Limited (Danaos Shipping).