Europa Cruises Corporation Announces Second Quarter Results
MADEIRA BEACH, Fla., Aug. 10 /PRNewswire/ -- Europa Cruises Corporation (OTC Bulletin Board: KRUZ - news), today announced financial results for the second quarter of 2001. The Company reported a net loss after preferred dividends of $208,393 for the three months ending June 30, 2001, as compared to a net loss of $520,904 for the same period in 2000. The net loss per common share for the period ending June 30, 2001 was $0.007 per common share as compared to a net loss of $0.018 per common share for the same period in 2000. Net loss for the second quarter of 2001 included preferred dividends of $27,240, non-cash ESOP charges of $53,125 and settlements relating to prior operations of $25,500. The net loss after preferred dividends for the six months ending June 30, 2001 was $396,678 as compared to a net loss of $1,320,245 for the same period in 2000.
Deborah A. Vitale, President and Chairman of the Board of Directors, commenting on the financial results stated: ``The financial results for the second quarter reflect the fact that the Company has successfully divested itself of its major losing operations and has reduced its costs and expenses to a minimum. While the Company still has prior history to deal with, the Company's focus and primary attention is devoted to the development of its Diamondhead, Mississippi property. The Company is now actively engaged in the process of seeking a joint venture partner for its Diamondhead project.'' |
