Omega Navigation Enterprises (ONAV) Reports Q2 Earnings
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Omega Navigation Enterprises, Inc. (Nasdaq: ONAV) reported total revenues of $ 19.3 million and net income of $8.0 million, or $0.53 per basic share. Excluding a non-cash book gain on its interest rate derivative instruments, a non-cash book loss on warrants revaluation and non-cash incentive compensation grants, the Company generated net income of $ 5.7 million or $ 0.38 per basic share. EBITDA for the second quarter of 2008 was $ 12.6 million.
Omega Navigation Enterprises, Inc. (Omega) is engaged in the ocean transportation services of dry cargo products, and crude and refined petroleum products.[SM]
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