DALLAS, April 19, 2010 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Excel Maritime Carriers Ltd. (NYSE:EXM). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
The full report is available at: www.microstockprofit.com/ads/EXM
Excel Maritime Carriers Ltd. (EXM) is a provider of worldwide sea borne transportation services for dry bulk cargo, including among others, iron ore, coal and grain, collectively referred to as major bulks, and steel products, fertilizers, cement, bauxite, sugar and scrap metal, collectively referred to as minor bulks. EXM's fleet is managed by one of its wholly owned subsidiaries, Maryville Maritime Inc. (Maryville). As of April 27, 2009, the Company owned a fleet of 40 vessels, and together with seven Panamax vessels under bareboat charters, operates 47 vessels, five Capesize, 14 Kamsarmax, 21 Panamax, two Supramax and five Handymax, with a total carrying capacity of approximately 3.9 million deadweight tons (dwt). On April 15, 2008, the Company completed its acquisition of Quintana Maritime Ltd. (Quintana). As a result of the acquisition, Quintana operates as a wholly owned subsidiary of Excel under the name Bird.
In the report, the analyst notes:
"Revenue from operations for the quarter amounted to $186.2 million as compared to $189.2 million in the fourth quarter of 2008. Net profit for the quarter was $81.8 million or $1.00 per weighted average diluted share compared to a loss of $332.1 million or $7.56 per weighted average diluted share in the fourth quarter of 2008.
"EXM last month announced Charalampos Mazarakis as the Company's CEO. Mazarakis will assume his position in mid May 2010. The Company also announced that Pavlos Kanellopoulos has been appointed as the Company's CFO. Kanellopoulos will assume his position in early April 2010."
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