Frontline Ltd. (FRO: Quote,FRO.L) reported a significantly wider fourth-quarter net loss attributable to the company of $343.67 million or $4.41 per basic share versus year-ago quarter's $11.84 million or $0.15 per basic share loss.
Excluding losses and gains on sale of assets, amortization of deferred gains and vessel impairment loss, net loss attributable to Frontline Ltd. amounted to $30.8 million in the fourth quarter of 2011, the company said.
Total operating revenues dropped to $181.98 million from $226.16 million in the comparable period a year early. In addition, the board has decided not to declare a dividend for the 2011 fourth quarter.
by RTT Staff Writer
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