Revenue Update on Danaos Corporation(NYSE:DAC)

Danaos Corporation(NYSE:DAC) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $137.00M. Analysts estimated a revenue of $135.57M. Earnings per share were $0.43. Analysts had estimated an EPS of $0.42.

Danaos Corporation (DAC) shares turned negative on Mondays trading session with the shares closing down -0.16 points or -3.70% at a volume of 2,73,508. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $4.31. The peak price level was also seen at $4.31 while the days lowest was $4.11. Finally the shares closed at $4.16. The 52-week high of the shares is $6.64 while the 52-week low is $2.7. According to the latest information available, the market cap of the company is $457 M.

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).

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