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TEN Ltd Reports Results for the Third Quarter and Nine Months Ended September 30, 2019

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

Profitable 9-Month Net Income – Strong Year End Expectations
Fivefold Increase in Operating Income Y-o-Y – TEN Outperforms Spot Market by 20%$144 Million Year-on-Year Debt and Preferred Shares Reduction$0.05 Common Stock Dividend Payable in December 2019Fleet Fully Prepared for IMO 2020 DeadlineATHENS, Greece, Nov. 26, 2019 (GLOBE NEWSWIRE) — TEN, Ltd (TEN) (NYSE: TNP) (the “Company”) today reported results (unaudited) for the quarter and nine months ended September 30, 2019.NINE MONTHS 2019 SUMMARY RESULTS
TEN earned gross revenues of $422.1 million, 12.2% higher than in the equivalent nine-month period of 2018 and achieved a net income of $2.0 million in the nine months of 2019 compared to a loss of $36.1 million in the nine months of 2018, a positive swing of $38.1 million between the two nine-month periods.

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