Europa Cruises Corporation Reports Results for 2000
PR NEWSWIRE - April 16, 2001 17:44
MADEIRA BEACH, Fla., Apr 16, 2001 /PRNewswire via COMTEX/ -- Europa Cruises Corporation (OTC Bulletin Board: KRUZ) announced today that it has reported its results for the year ended December 31, 2000. The Company's net loss before preferred dividends was $660,963. Earnings before interest, depreciation, amortization, non-cash ESOP charges and preferred dividends were $444,848.
Deborah A. Vitale, Chairman of the Board of Directors of the Company, stated, "The year 2000 marked a turning point in the history of the Company. In August, the Company was successful in selling its two remaining vessels and subleasing its remaining port rights in Florida. The Company has now divested itself of its cruise-to-nowhere operations in Florida. The Company has received all payments due, to date, from both the purchaser of the vessels and the purchasers of its port rights. There is only one payment remaining to be made to the Company in the amount of $400,000 which is due on May 1, 2001. While the Company continues to work with the new owners when necessary to effect a smooth transition, the transition process is now essentially complete. In 2001, the Company was able to turn its full time and attention to its Diamondhead, Mississippi, project. The Company is now actively engaged in the process of seeking a joint venture partner for the project." |
