Danaos Corporation ("Danaos") (NYSE: DAC), one of the world's largest independent owners of containerships, today (30/10) reported unaudited results for the period ended September 30, 2017.

Highlights for the Third Quarter and Nine Months Ended September 30, 2017:

- Adjusted net income1 of $30.1 million, or $0.27 per share, for the three months ended September 30, 2017 compared to $22.8 million, or $0.21 per share, for the three months ended September 30, 2016, an increase of 32.0\%. Adjusted net income1 of $83.7 million, or $0.76 per share, for the nine months ended September 30, 2017 compared to $117.7 million, or $1.07 per share, for the nine months ended September 30, 2016, a decrease of 28.9\%.

- Operating revenues of $113.6 million for the three months ended September 30, 2017 compared to $111.8 million for the three months ended September 30, 2016, an increase of 1.6\%. Operating revenues of $337.6 million for the nine months ended September 30, 2017 compared to $386.2 million for the nine months ended September 30, 2016, a decrease of 12.6\%.

- Adjusted EBITDA1 of $79.8 million for the three months ended September 30, 2017 compared to $75.5 million for the three months ended September 30, 2016, an increase of 5.7\%. Adjusted EBITDA1 of $230.4 million for the nine months ended September 30, 2017 compared to $274.7 million for the nine months ended September 30, 2016, a decrease of 16.1\%.

- Total contracted operating revenues were $1.8 billion as of September 30, 2017, with charters extending through 2028 and remaining average contracted charter duration of 6.0 years, weighted by aggregate contracted charter hire.

- Charter coverage of 87\% for the next 12 months based on current operating revenues and 71\% in terms of contracted operating days.
 

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