Boston, MA 08/27/2014 (wallstreetpr) – The Bermuda-based company Golar LNG Limited (USA) (NASDAQ:GLNG), in its press report, disclosed its interim results for the financial period that ended on June 30, 2014. A report posted by the company on August 26, 2014 also highlights the declaration of dividend of $0.45 per share.
Financial reviews:
Operating revenue:
According to the report, Golar LNG Limited (USA) (NASDAQ:GLNG) in 2Q maintained a consistency in the operating revenue with the first quarter. The operating revenue in 2Q is $21.1 million, while the last quarter’s figure was $21.0 million.
Curtail in expenditures:
Golar LNG Limited (USA) (NASDAQ:GLNG), in the period ended June 30, represented an overall cost cut in various sections. The voyage cost decreased to $3.2 million in the quarter, while it was $6.1 million in 1Q2014. The vessel operating cost also slipped to $11.8 million in this quarter from $13.8 million, a quarter back. The administrative expenses also decreased to $4.5 million from $4.9 million within a period of three months. The interest expense, which dropped down to $1.4 million in 2Q from $2.2 million in 1Q, was primarily driven by a decrease in LIBOR rates.
The EBITDA produced in the second quarter of this year measures $1.1 million, while it experienced a net loss of $24.2 million, including $13.6 million non-cash loss.
Gainful events:
During the beginning of this month, Golar LNG Limited (USA) (NASDAQ:GLNG) signed into a cooperation agreement with Quantum Power to encourage the development of FSRU project in Ghana. Moreover, since July 2013, Golar LNG Limited (USA) (NASDAQ:GLNG) raised almost $1.9 billion through a mixture of bank funding, sales, and leaseback transaction, as well as ECA backed funding.
Dividend announcement:
The board of members decided to pay a dividend of $0.45 per share to the shareholders. However, the dividend will be paid for the period of business up to September 10, on or about September 26, 2014.
