Thursday, August 20, 2015

The 11 Greek Companies Filing With US SEC in US$s With Market Caps Above US$100 mil Four-Year Total Audited Earnings 2011-2014 Were $45 Mil Down 98% From Four-Year Total Audited Earnings 2007-2010 of $2,931 Mil ..... 10 of the 11 Are Deep Sea Foreign Transportation of Freight Companies (i.e. Export Facilitators) ..... 1 Greek Company Filing With US SEC in Euros Had Four-Year Total Audited Losses 2011-2014 of EUR 19.4 Bil as Compared With Four-Year Total Audited Earnings 2007-2010 of EUR 2.5 Bil

From a review of the superb Google Finance Website and the US SEC Website, I found 11 Companies headquartered in Greece filing their financial statements in US$s with the SEC and with Stock Market Capitalizations of more than US$100 mil.

Below here are the reported Audited Earnings (Losses) for each of the 11 Greek Companies reporting in US$s for all years reported from 2007 through 2014:



2014 2013 2012 2011 2010 2009 2008 2007

Most Audited Audited Audited Audited Audited Audited Audited Audited

Recent Net Net Net Net Net Net Net Net
Greek Companies 2014 Income Income Income Income Income Income Income Income
Filing With SEC in US$s FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)


000s US$s 000s US$s 000s US$s 000s US$s 000s US$s 000s US$s 000s US$s 000s US$s










Costamare Inc Dec14       115,087    103,087      81,129      87,592      81,224   116,929      99,779      115,423
DryShips Inc Dec14         58,020   (198,028)   (288,593)    (47,286)    190,450   (12,031)   (344,457)      478,325
Capital Product Partners LP Dec14         44,012      99,481    (21,189)      87,120      18,919     32,716      50,767        21,571
Tsakos Energy Navigation Ltd Dec14         33,718    (38,570)    (49,056)    (88,950)      21,035     30,175    203,997      186,560
Aegean Marine Petroleum Network Dec14         17,639      27,030      22,449      11,708      18,733     48,525      39,915        27,738
Safe Bulkers Dec14         14,634      83,257      96,120      89,734    109,647   165,410    119,211      209,200
StealthGas Inc Dec14         12,686      21,217      28,958        8,550      11,093   (13,312)      29,987        22,538
Diana Containerships Inc Dec14          3,238    (57,346)        5,969        3,630      (2,001)  NA   NA   NA
Danaos Corporation Dec14         (3,920)      37,523   (105,204)      13,437   (102,341)     36,089    117,060      123,098
Diana Shipping Dec14       (10,268)    (21,205)      54,639    107,495    127,869   121,498    221,699      134,220
Star Bulk Carriers Corp Dec14       (11,723)        1,850   (314,521)    (69,559)      (5,131)   (58,415)    133,738         3,411










Total all 11
      273,123      58,296   (489,299)    203,471    469,497   467,584    671,696   1,322,084










Earnings % Declines:








….. 2014 Below 2009
-42%






….. 2014 Below 2008
-59%






….. 2014 Below 2007
-79%
















Four Year Earnings:








….. 2011-14
        45,591






….. 2007-10
   2,930,861






………. 4 Year Earnings Decline
   






…………… Amount
  (2,885,270)






…………… %
-98%







In addition, there was one Greek Company filing their financial statements with the SEC in Euros.  Below here are the reported Audited Earnings (Losses) for this Greek Company reporting in Euros for all years reported from 2007 through 2014:



2014 2013 2012 2011 2010 2009 2008 2007

Most Audited Audited Audited Audited Audited Audited Audited Audited

Recent Net Net Net Net Net Net Net Net
Greek Company 2014 Income Income Income Income Income Income Income Income
Filing With SEC in Euros FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)

mil Euros mil Euros mil Euros mil Euros mil Euros mil Euros mil Euros










National Bank of Greece Dec14              (2,473)                 69          (2,517)        (14,507)             (308)             453               965              1,384










Four Year Earnings (Losses):








….. 2011-14
      (19,428)






….. 2007-10           2,494






………. 4 Year Earnings Decline
      (21,922)