Diana Shipping Inc (DSX) saw its loss narrow to $26.47 million, or $0.34 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $31.39 million, or $0.41 a share. Revenue during the quarter went up marginally by 1.61 percent to $31.29 million from $30.79 million in the previous year period. Operating margin for the quarter stood at negative 58.93 percent as compared to a negative 80.24 percent for the previous year period.
Operating loss for the quarter was $18.44 million, compared with an operating loss of $24.71 million in the previous year period.
Operating cash flow remains negative
Diana Shipping Inc has spent $0.59 million cash to meet operating activities during the quarter as against cash outgo of $9.43 million in the last year period. The company has spent $58.02 million cash to meet investing activities during the quarter as against cash outgo of $26.55 million in the last year period.
Cash flow from financing activities was $45.67 million for the quarter, up 231.11 percent or $31.88 million, when compared with the last year period.
Cash and cash equivalents stood at stood at $84.20 million as at Mar. 31, 2017.
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