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GOGL - Interim Results for the Quarter Ended March 31, 2005.

Publication: PR Newswire
Publication Date: 30-MAY-05 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
HAMILTON, Bermuda, May 30 /PRNewswire/ -- The Board of Golden Ocean Group Limited (the "Company or "Golden Ocean") is pleased to report net income of $16.0 million and earnings per share of $0.07 for the first quarter of 2005. Total operating revenues were $14.3 million, total operating expenses were $9.0 million and net other income was $10.7 million. Net other income includes a gain of $10.7 million arising on the sale of shares in Jinhui Shipping and Transport.

Cash and cash equivalents increased $12.6 million during the quarter. The Company generated cash...

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