* Q1 adj EPS $0.23 vs est $0.24
* Oper rev up 6 pct at $79.7 mln
June 3 Greek container shipping company Danaos
Corp (DAC.N) posted a slightly lower-than-expected adjusted
profit for the first quarter, hurt by increased interest
Interest expenses during the quarter increased by 7.3
percent to $8.8 million due to the rise in the company's
average debt by $240.6 million, to $2.3 billion.
The company said the financing of its new building program
resulted in interest capitalization.
"We have reached an overall detailed agreement that will
secure funding for all of our new buildings on order," Chief
Executive John Coustas said in a statement. "We are now
awaiting formal commitments from our banking group," he added.
For the first quarter, the company posted a loss of $101.1
million, or $1.85 a share, compared with a profit of $20
million, or 37 cents a share, in the year-ago quarter.
On an adjusted basis, the company earned 23 cents a share.
Operating revenue rose 6 percent to $79.7 million.
Analysts on average had expected the company to earn 24
cents, excluding special items, on revenue of $82.4 million,
according to Thomson Reuters I/B/E/S.
Shares of the company closed at $4.01 Thursday on the New
York Stock Exchange.
(Reporting by Vinay Sarawagi in Bangalore; Editing by Maju