Tsakos Energy Navigation Limited (TNP) reported that its fourth-quarter net loss attributable to the company narrowed to $24.40 million or $0.43 per share, from $56.59 million or $1.23 per share in the same quarter last year.
Substantial improvement in operating results before impairment and loss on sale of vessels. $4.8 million operating income compared to an operating loss before impairment of $2.9 million in the fourth quarter of 2011.
Revenues, net of voyage expenses and commissions, were $67.5 million in the fourth quarter of 2012, an improvement of 9.1% over 2011 assisted by the firmness in rates in the products and LNG markets. Voyage revenues for the quarter were $100.30 million, compared to $100.79 million in the previous year.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.18 per share on revenues of $67.00 million for the quarter. Analysts' estimates typically exclude special items.
The company's Board declared a quarterly dividend of $0.05 per share of common stock outstanding to be paid on June 05, 2013 to shareholders of record as of May 30, 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.