Independent Tankers Corporation Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012
For the six months, the company reported net loss of $3.3 million or $0.04 basic and diluted loss per share on total operating revenues of $36.5 million compared to net income of $8 million or $0.11 basic and diluted earnings per share on total operating revenues of $36.4 million for the corresponding period of last year. Operating income was $8.5 million against $11.3 million for the same period last year. Net cash used in operating activities was $493,000 against cash provided by operating activities of $1.5 million of prior year period.