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SmallCap Sentinel: Management Matters
IRVINE, Calif., May 16, 2007 (PRIME NEWSWIRE) -- "In theory, when a company lands a superior talent within its industry amid a chorus of competitive choices it should say something about the company which the expert has joined," stated SmallCap Sentinel analyst D.R. Clark. "Obviously, there is also the benefit of the new executive's skill set, clients, knowledge base etc."
Knightsbridge Tankers Limited
Knightsbridge Tankers Limited - First Quarter 2007 Results
HAMILTON, Bermuda, May 16, 2007 (PRIME NEWSWIRE) -- Knightsbridge Tankers Limited (Nasdaq:VLCCF) (the "Company") reports net income of $9.7 million and earnings per share of $0.57 for the first quarter of 2007. This compares with net income of $14.2 million and earnings per share of $0.83 for the first quarter of 2006. The average daily time charter equivalent ("TCEs") earned by the Company's five VLCCs was $43,800 compared with $41,700 in the preceding quarter. The increase represents recovery from the seasonal weakening of the tanker market which had occurred in the prior quarter. Net operating income was $11.1 million (2006 comparable quarter: $15.4 million) and net interest expense for the quarter was $1.4 million (2006 comparable quarter: $1.3 million) At March 31, 2007 all of the Company's debt is floating rate debt.