Baltic Trading Limited Announces First Quarter Financial Results

Baltic Trading Limited (NYSE:BALT) reports its financial results for the three months ended March 31, 2011.

The press release is quoted as saying,

The Company recorded a net loss for the first quarter of 2011 of $1.7 million, or $0.08 basic and diluted net loss per share. Comparatively, for the three months ended December 31, 2010, the Company recorded net income of $3.7 million, or $0.17basic and diluted net income per share. For the three month period ending March 31, 2010, the Company recorded $0.09 basic and diluted net loss per share which primarily consisted of general and administrative expenses related to the formation of the company since we took delivery of our first vessel on April 8, 2010.

For the complete press release, click here.