12JUN2019 - NEWS - Globus reduces expenses and strengthens balance sheet as it reports 1Q results

The dry bulk shipping company, which provides marine transportation services, narrowed its loss for the quarter compared to the year-ago period. Globus Maritime Limited (NASDAQ:GLBS) reported first-quarter financial results Tuesday that pointed to a strengthening balance sheet as it narrowed its loss for the quarter, compared to the year-ago period. 

Globus Maritime owns and operates a fleet of dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other cargo internationally. The firm reported its loss for the first quarter of 2019 narrowed to $0.5 million, or $0.15 per share, as compared to a loss of $1.5 million, or $0.48 per share, for the same period last year. Revenue decreased to $3.5 million for the quarter ended March 31, 2019, from $3.9 million in the year-ago quarter. 

Published by Editor - www.Livebunkers.com at 12-Jun-2019 03:29:46 [UTC] , contact editor at editor@livebunkers.com