Seaspan (SSW) Quarterly Income Statement

Income Statement Summary

Seaspan (SSW) quarterly income statement covering the six quarters from June 2011 to September 2017, as reported to the SEC.

Seaspan reported revenue of $211.01M in the quarter ended September 30, 2017, down 6.2% from $224.88M a year earlier.
Operating earnings were $77.39M, after a loss of $149.07M a year earlier. Operating margin was 36.7%.
Net earnings were $48.38M, after a loss of $184.03M a year earlier. Net margin was 22.9%.
Class A common share, diluted was $0.26, after a loss of $1.86 a year earlier.
General and administrative took 6.7% of revenue.

An income statement shows what a company sold and what it cost to run the business, ending with the profit left over.

Figures in USD thousands, except per share data

						Sep'17	Sep'16	Sep'15	Jun'13	Jun'12	Jun'11
Revenue
211,013	224,875	212,861	167,786	167,637	133,672	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Revenue						211,013	224,875	212,861	167,786	167,637	133,672	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating expenses:
Ship operating
45,378	48,590	49,429	37,344	31,515	32,809	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Ship operating						45,378	48,590	49,429	37,344	31,515	32,809	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of services, supervision fees
650	2,600	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Cost of services, supervision fees						650	2,600	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation and amortization
49,835	52,701	51,528	42,840	42,284	32,818	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Depreciation and amortization						49,835	52,701	51,528	42,840	42,284	32,818	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative
14,034	8,094	6,959	11,833	6,671	5,032	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
General and administrative						14,034	8,094	6,959	11,833	6,671	5,032	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating leases (note 12)
30,332	23,817	11,155	1,097	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating leases (note 12)						30,332	23,817	11,155	1,097	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss (gain) on disposals (note 6)
6,606	-16,487	-	-	9,773	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Loss (gain) on disposals (note 6)						6,606	-16,487	-	-	9,773	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Expenses related to customer bankruptcy
-	18,883	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Expenses related to customer bankruptcy						-	18,883	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Vessel impairments
-	202,775	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Vessel impairments						-	202,775	-	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses
133,623	373,947	119,071	93,114	70,697	70,659	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total operating expenses						133,623	373,947	119,071	93,114	70,697	70,659	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating earnings
77,390	-149,072	93,790	74,672	96,940	63,013	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Operating earnings						77,390	-149,072	93,790	74,672	96,940	63,013	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other expenses (income):
Interest expense and amortization of deferred financing fees
28,332	29,952	28,950	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense and amortization of deferred financing fees						28,332	29,952	28,950	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense
-	-	-	15,275	19,157	10,656	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest expense						-	-	-	15,275	19,157	10,656	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income
1,080	1,231	1,611	600	321	172	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Interest income						1,080	1,231	1,611	600	321	172	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Undrawn credit facility fees
584	810	758	748	398	1,221	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Undrawn credit facility fees						584	810	758	748	398	1,221	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of deferred charges (note 5)
-	-	-	2,266	2,205	1,423	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Amortization of deferred charges (note 5)						-	-	-	2,266	2,205	1,423	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Refinancing expenses
-	1,190	1,616	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Refinancing expenses						-	1,190	1,616	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in fair value of financial instruments (note 19(c))
-2,444	684	-44,774	71,193	-82,084	-84,747	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Change in fair value of financial instruments (note 19(c))						-2,444	684	-44,774	71,193	-82,084	-84,747	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equity income on investment (note 8)
1,510	-4,562	1,683	-35	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Equity income on investment (note 8)						1,510	-4,562	1,683	-35	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other expense (income)
-243	-363	-496	987	166	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Other expense (income)						-243	-363	-496	987	166	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other expenses (income)
-29,013	-34,962	-73,300	52,482	-103,689	-97,875	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Total other expenses (income)						-29,013	-34,962	-73,300	52,482	-103,689	-97,875	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings (loss)
48,377	-184,034	20,490	127,154	-6,749	-34,862	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Net earnings (loss)						48,377	-184,034	20,490	127,154	-6,749	-34,862	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Earnings (loss) per share (note 14):
Class A common share, basic
0.27	-1.86	-	1.67	-0.38	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Class A common share, basic						0.27	-1.86	-	1.67	-0.38	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Class A common share, diluted
0.26	-1.86	-	1.35	-0.38	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Class A common share, diluted						0.26	-1.86	-	1.35	-0.38	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Class A common share, basic and diluted
-	-	0.07	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx
Class A common share, basic and diluted						-	-	0.07	-	-	-	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx	xxxxx