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Hamilton, Bermuda - Marketwired - May 14, 2015
Highlights:
• Realized the highest first quarter crude tanker spot rates since 2008 and the highest LR2 product tanker spot rates since 2006.
• Reported first quarter 2015 adjusted net income attributable to shareholders(1) of $39.0 million, or $0.34 per share, compared to $16.9 million, or $0.20 per share, in the same period of the prior year.
• Generated first quarter 2015 Free Cash Flow(2) of $0.46 per share, an increase of 31 percent from the fourth quarter of 2014. - Took delivery of four Long Range 2 (LR2) product tankers and one Aframax tanker for an aggregate purchase price of approximately $230 million during the quarter.
Teekay Tankers Ltd. (Teekay Tankers or the Company) (NYSE:TNK) today reported adjusted net income attributable to its shareholders (1) (as detailed in Appendix A to this release) of $39.0 million, or $0.34 per share, for the quarter ended March 31, 2015, compared to $16.9 million, or $0.20 per share, for the same period in the prior year. The increase is primarily due to stronger spot tanker rates in the first quarter of 2015 compared to the same period in …
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Teekay Tankers Ltd. press release