d1454854_6-k.htm
FORM 6-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16
OF THE SECURITIES EXCHANGE ACT OF 1934

For the month of February 2014
Commission File Number:  001-32458

DIANA SHIPPING INC.
(Translation of registrant's name into English)
Pendelis 16, 175 64 Palaio Faliro, Athens, Greece
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F [X]       Form 40-F [  ]

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [  ].

Note: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [  ].

Note: Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant's "home country"), or under the rules of the home country exchange on which the registrant's securities are traded, as long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant's security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other Commission filing on EDGAR.




 
 

 
 
 

INFORMATION CONTAINED IN THIS FORM 6-K REPORT

Attached to this Report on Form 6-K as Exhibit 99.1 is a press release of Diana Shipping Inc. (the "Company") dated February 18, 2014, reporting the Company's financial results for the fourth quarter and year ended December 31, 2013.



 
 
 

 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

DIANA SHIPPING INC.
(registrant)


Dated: February 18, 2014
By:
 /s/ Andreas Michalopoulos
 
 
 Andreas Michalopoulos
 Chief Financial Officer and Treasurer
 
 
 




 
 

 
 
 

Exhibit 99.1

Corporate Contact:
Ioannis Zafirakis
Director, Executive Vice-President and Secretary
Telephone: + 30-210-9470100
Email: izafirakis@dianashippinginc.com
Website: www.dianashippinginc.com
For Immediate Release
Investor and Media Relations:
Edward Nebb
Comm-Counsellors, LLC
Telephone: + 1-203-972-8350
Email: enebb@optonline.net
 




DIANA SHIPPING INC. REPORTS FINANCIAL RESULTS
FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2013

 
ATHENS, GREECE, February 18, 2014 – Diana Shipping Inc. (NYSE: DSX), (the "Company"), a global shipping company specializing in the ownership of dry bulk vessels, today reported a net loss of $9.6 million for the fourth quarter of 2013, compared to net income of $5.0 million reported for the fourth quarter of 2012.
 
Time charter revenues were $39.5 million for the fourth quarter of 2013, compared to $49.4 million for the same period of 2012. This was mainly due to reduced time charter rates, as well as the accelerated amortization of the prepaid charter revenue for the m/v Houston, due to the earlier redelivery of the vessel by the charterers, resulting in the unamortized balance of $3.0 million being recorded against time charter revenues in the fourth quarter of 2013. The decrease in time charter revenues was partly offset by revenues derived from the increase in ownership days resulting from the enlargement of our fleet.
 
Net loss for 2013 amounted to $21.2 million, compared to net income of $54.6 million for 2012. Time charter revenues were $164.0 million for 2013, compared to $220.8 million for 2012.
 

 
 
 

         Fleet Employment Profile (As of February 17, 2014)
         Currently Diana Shipping Inc.'s fleet is employed as follows:

 
 
 
 
 
 
 
 
 
 
Vessel
Sister Ships*
Gross Rate (USD Per Day)
Com**
Charterer
Delivery Date to Charterer
Redelivery Date to Owners***
Notes
 
BUILT    DWT
 
Panamax Bulk Carriers
 
 
 
 
 
 
 
 
 
1  
DANAE
A
$8,250
5.00%
Intermare Transport GmbH, Hamburg
10-Mar-13
10-Sep-14 - 10-Jan-15
 
 
2001    75,106
 
 
 
 
 
 
 
2  
DIONE
A
$9,700
5.00%
EDF Trading Limited, UK
19-Jul-12
19-Jul-14 - 19-Dec-14
 
 
2001    75,172
 
 
 
 
 
 
 
3  
NIREFS
A
$8,000
5.00%
Intermare Transport GmbH, Hamburg
29-Jan-13
29-Jul-14 - 29-Jan-15
 
 
 
 
 
 
 
 
 
 
 
2001    75,311
 
 
 
 
 
 
 
4  
ALCYON
A
$7,750
5.00%
EDF Trading Limited, UK
21-Dec-12
21-Nov-14 - 21-May-15
 
 
2001    75,247
 
 
 
 
 
 
 
5  
TRITON
A
$19,500
4.75%
Resource Marine Pte., Ltd, Singapore
11-Dec-10
8-Nov-13
1,2
 
 
 
$11,500
5.00%
CCX Shipping Co., Ltd, Hong Kong
11-Nov-13
16-Dec-13
3
 
 
 
$11,000
5.00%
Bunge S.A., Geneva
16-Dec-13
1-Sep-14 - 31-Oct-14
 
 
2001    75,336
 
 
 
 
 
 
 
6  
OCEANIS
A
$9,250
5.00%
Ultrabulk A/S, Copenhagen, Denmark
14-Aug-12
20-Feb-14 - 14-Jul-14
4
 
2001    75,211
 
 
 
 
 
 
 
7  
THETIS
B
$8,300
5.00%
EDF Trading Limited, UK
1-Sep-13
1-Jul-15 - 1-Dec-15
5
 
2004    73,583
 
 
 
 
 
 
 
8  
PROTEFS
B
$9,000
5.00%
Cargill International S.A., Geneva
14-Sep-12
14-Sep-14 - 14-Feb-15
 
 
2004    73,630
 
 
 
 
 
 
 
9  
CALIPSO
B
$8,100
4.75%
Cargill International S.A., Geneva
29-Jul-13
29-Apr-15 - 29-Aug-15
 
 
2005    73,691
 
 
 
 
 
 
 
10  
CLIO
B
$8,600
4.75%
Cargill International S.A., Geneva
22-Aug-13
22-May-15 - 22-Aug-15
6
 
2005    73,691
 
 
 
 
 
 
 
11  
NAIAS
B
$9,250
5.00%
Ultrabulk A/S, Copenhagen, Denmark
2-Sep-12
28-Feb-14 - 2-Aug-14
4
 
2006    73,546
 
 
 
 
 
 
 
12  
ARETHUSA
B
$7,300
5.00%
Cargill International S.A., Geneva
22-Nov-12
22-May-14 - 22-Nov-14
 
 
2007     73,593
 
 
 
 
 
 
 
13  
ERATO
C
$6,500
5.00%
Cargill International S.A., Geneva
9-Jan-13
9-Jul-14 - 9-Jan-15
5,7
 
2004    74,444
 
 
 
 
 
 
 
14  
CORONIS
C
$10,600
5.00%
EDF Trading Limited, UK
12-Mar-12
1-Mar-14 - 27-Jun-14
4
 
2006    74,381
 
 
 
 
 
 
 
15  
MELITE
D
$7,750
5.00%
Cargill International S.A., Geneva
28-Dec-12
1-Jul-14 - 1-Jan-15
 
 
2004     76,436
 
 
 
 
 
 
 
16  
MELIA
D
$9,700
3.75%
Rio Tinto Shipping Pty, Ltd., Melbourne
17-Apr-13
2-Mar-14 - 17-May-14
 
 
2005     76,225
 
 
 
 
 
 
 
17  
ARTEMIS
 
$9,375
3.75%
Rio Tinto Shipping Pty, Ltd., Melbourne
26-Aug-13
26-Jun-15 - 26-Oct-15
 
 
2006     76,942
 
 
 
 
 
 
 
18  
LETO
 
$12,900
5.00%
EDF Trading Limited, UK
17-Jan-12
20-Feb-14 - 17-Nov-14
4
 
2010     81,297
 
 
 
 
 
 
 
 
 
 
 

 
Kamsarmax Bulk Carriers
19  
MAIA
E
$10,900
5.00%
Glencore Grain B.V., Rotterdam
27-Feb-13
12-Aug-14 - 27-Feb-15
 
 
2009     82,193
 
 
 
 
 
 
 
20  
MYRSINI
E
$15,500
4.75%
Clearlake Shipping Pte. Ltd., Singapore
12-Oct-13
12-Feb-14
8
 
 
 
 
 
 
12-Feb-14
15-Feb-15 - 10-May-15
 
 
2010     82,117
 
 
 
 
 
 
 
21  
MYRTO
E
$9,000
5.00%
Cargill International S.A., Geneva
25-Jan-13
25-Jul-14 - 25-Jan-15
 
 
2013     82,131
 
 
 
 
 
 
 
 
Post-Panamax Bulk Carriers
22  
ALCMENE
 
$7,250
5.00%
ADM International Sarl, Rolle, Switzerland
22-Feb-13
7-Aug-14 - 22-Feb-15
 
 
2010     93,193
 
 
 
 
 
 
 
23  
AMPHITRITE
 
$10,000
5.00%
Bunge S.A., Geneva
15-Aug-12
31-May-14 - 30-Oct-14
9
 
2012     98,697
 
 
 
 
 
 
 
24  
POLYMNIA
 
$7,600
5.00%
Bunge S.A., Geneva
16-Jan-13
16-Jul-14 - 16-Jan-15
10,11
 
2012    98,704
 
 
 
 
 
 
 
 
Capesize Bulk Carriers
25  
NORFOLK
 
$10,700
4.50%
Clearlake Shipping Pte. Ltd., Singapore
16-Jan-13
16-Jul-14 - 16-Jan-15
8
 
2002    164,218
 
 
 
 
 
 
 
26  
ALIKI
 
$26,500
5.00%
Minmetals Logistics Group Co. Ltd., Beijing
1-Mar-11
1-Feb-16 - 1-Apr-16
 
 
2005    180,235
 
 
 
 
 
 
 
27  
BALTIMORE
 
$15,000
5.00%
RWE Supply & Trading GmbH, Essen
8-Jul-13
8-Jul-16 - 8-Jan-17
12
 
2005    177,243
 
 
 
 
 
 
 
28  
SALT LAKE CITY
 
$13,000
5.00%
Morgan Stanley Capital Group Inc.
11-Aug-12
11-Jun-14 - 11-Dec-14
 
 
2005    171,810
 
 
 
 
 
 
 
29  
SIDERIS GS
F
$13,500
4.75%
Cargill International S.A., Geneva
14-Mar-13
14-Dec-14 - 14-Jun-15
 
 
2006    174,186
 
 
 
 
 
 
 
30  
SEMIRIO
F
$14,000
4.75%
Cargill International S.A., Geneva
19-Mar-13
19-Jan-15 - 19-Jun-15
 
 
2007    174,261
 
 
 
 
 
 
 
31  
BOSTON
F
$14,250
4.75%
Clearlake Shipping Pte. Ltd., Singapore
24-Aug-13
9-Aug-15 - 8-Feb-16
8
 
2007    177,828
 
 
 
 
 
 
 
32  
HOUSTON
F
$55,000
4.75%
Shagang Shipping Co.
3-Nov-09
26-Nov-13
13
 
 
 
$20,500
4.75%
Clearlake Shipping Pte. Ltd., Singapore
3-Dec-13
19-Oct-14 - 18-Feb-15
8
 
2009    177,729
 
 
 
 
 
 
 
33  
NEW YORK
F
$48,000
3.75%
Nippon Yusen Kaisha, Tokyo (NYK)
3-Mar-10
3-Jan-15 - 3-May-15
 
 
2010    177,773
 
 
 
 
 
 
 
34  
P. S. PALIOS
 
$18,350
5.00%
RWE Supply & Trading GmbH, Essen
3-Dec-13
18-Sep-15 - 31-Dec-15
 
 
2013    179,134
 
 
 
 
 
 
 
 
Newcastlemax Bulk Carriers
35  
LOS ANGELES
G
$18,000
5.00%
EDF Trading Limited, UK
9-Feb-12
9-Dec-15 - 9-Apr-16
 
 
2012    206,104
 
 
 
 
 
 
 
36  
PHILADELPHIA
G
$18,000
5.00%
EDF Trading Limited, UK
17-May-12
17-Jan-16 - 17-Jul-16
 
 
2012    206,040
 
 
 
 
 
 
 


 
 
 


 
Vessels Under Construction
37  
HULL H2528
H
$15,800
5.00%
Glencore Grain B.V., Rotterdam
21-Feb-14
21-Aug-15 - 21-Nov-15
14,15
 
(tbn CRYSTALIA)
 
 
 
 
 
 
 
 
2014    77,525
 
 
 
 
 
 
 
38  
HULL H2529
H
-
-
-
-
- - -
14
 
(tbn ATALANDI)
 
 
 
 
 
 
 
 
2014   76,000
 
 
 
 
 
 
 
39  
HULL DY6006
 
-
-
-
-
- - -
16
 
2016   82,000
 
 
 
 
 
 
 
40  
HULL H2548
I
-
-
-
-
- - -
16
 
2016   208,500
 
 
 
 
 
 
 
41  
HULL H2549
I
-
-
-
-
- - -
16
 
2016   208,500
 
 
 
 
 
 
 

* Each dry bulk carrier is a "sister ship", or closely similar, to other dry bulk carriers that have the same letter.
** Total commission percentage paid to third parties.
*** Charterers' optional period to redeliver the vessel to owners. Charterers have the right to add the off hire days, if any, and therefore the optional period may be extended.
1 Resource Marine Pte., Ltd, Singapore is a guaranteed nominee of Macquarie Bank Limited.
2 Resource Marine Pte., Ltd, Singapore has agreed to compensate the owners for the early redelivery of the vessel on November 8, 2013 till the minimum agreed redelivery date, November 11, 2013.
3 Charterers exercised their option to redeliver the vessel back to owners at CJK area and will now have to pay US$11,500 per day for the entire period instead of US$11,000 per day previously announced.
4 Based on latest information.
5 Vessel currently off-hire for unscheduled maintenance.
6 Vessel off-hire for drydocking from December 12, 2013 to January 2, 2014.
7 Vessel off-hire from October 20, 2013 to October 21, 2013.
8 Clearlake Shipping Pte. Ltd., Singapore is a member of the Gunvor Group.
9 The charterer has the option to employ the vessel for a further 11 to 14 month period at a gross charter rate of US$11,300 per day. The optional period, if exercised, must be declared on or before the end of the 21st month of employment and will only commence at the end of the 24th month.
10 The charterer has the option to further employ the vessel for about 11 to a maximum 13 months at a gross charter rate of US$11,000 per day. The optional period, if exercised, must be declared on or before the 22nd month of employment and will only commence at the end of the 24th month.
11 Prior to October 12, 2013, chartered to Augustea Bunge Maritime Limited, Malta.
12 Vessel delivered to the Company on June 13, 2013. Due to scheduled maintenance, the vessel was delivered to the charterers on July 8, 2013.
13 From November 3, 2009 the vessel was chartered to Shagang Shipping Co. (a guaranteed nominee of the Jiangsu Shagang Group Co.), ("Shagang") with an initial termination date of October 3, 2014. On November 26, 2013, Gala Properties Inc., a wholly-owned subsidiary of Diana Shipping Inc. and owner of the vessel, received a notice from Shagang claiming that they were entitled to terminate the charter effective November 26, 2013 for purported breaches by the owners.  The owners believe they have fully performed under the terms of the charter since its inception and that Shagang has no basis for the purported termination of the charter. The owners have commenced arbitration proceedings seeking to mitigate their losses as a result of Shagang's early termination.
14 Based on latest information received by the yard.
15 Estimated date of delivery to the charterers.
16 Year of delivery and dwt are based on shipbuilding contract.
 
 
 
 

Summary of Selected Financial & Other Data (unaudited)
 
 
  
Three months ended December 31,
    
Years ended December 31,
  
 
  
2013
    
2012
    
2013
    
2012
  
 
  
 
    
 
    
 
    
 
  
STATEMENT OF OPERATIONS DATA (in thousands of US Dollars):
  
Time charter revenues
   $ 39,464     $ 49,379     $ 164,005     $ 220,785  
Voyage expenses
     1,798       2,083       8,119       8,274  
Vessel operating expenses
     19,949       19,316       77,211       66,293  
Net income / (loss)
     (9,597 )     5,016       (21,205 )     54,639  
FLEET DATA
  
Average number of vessels
     35.2       29.5       33.0       27.6  
Number of vessels
     36       30       36       30  
Weighted average age of vessels
     6.6       6.0       6.6       6.0  
Ownership days
     3,241       2,710       12,049       10,119  
Available days
     3,221       2,675       12,029       9,998  
Operating days
     3,204       2,575       11,944       9,865  
Fleet utilization
     99.5 %     96.3 %     99.3 %     98.7 %
AVERAGE DAILY RESULTS
  
Time charter equivalent (TCE) rate (1)
   $ 11,694     $ 17,681     $ 12,959     $ 21,255  
Daily vessel operating expenses (2)
   $ 6,155     $ 7,128     $ 6,408     $ 6,551  
 
(1)
Time charter equivalent rates, or TCE rates, are defined as our time charter revenues less voyage expenses during a period divided by the number of our available days during the period, which is consistent with industry standards.  Voyage expenses include port charges, bunker (fuel) expenses, canal charges and commissions.  TCE is a non-GAAP measure.  TCE rate is a standard shipping industry performance measure used primarily to compare daily earnings generated by vessels on time charters with daily earnings generated by vessels on voyage charters, because charter hire rates for vessels on voyage charters are generally not expressed in per day amounts while charter hire rates for vessels on time charters are generally expressed in such amounts.

(2)
Daily vessel operating expenses, which include crew wages and related costs, the cost of insurance, expenses relating to repairs and maintenance, the costs of spares and consumable stores, tonnage taxes and other miscellaneous expenses, are calculated by dividing vessel operating expenses by ownership days for the relevant period.

Conference Call and Webcast Information

Diana Shipping Inc. will conduct a conference call and simultaneous Internet webcast to review these results at 9:00 A.M. (Eastern Time) on Tuesday, February 18, 2014.
 
Investors may access the webcast by visiting the Company's website at www.dianashippinginc.com, and clicking on the webcast link. The conference call also may be accessed by telephone by dialing 1-877-407-8291 (for U.S.-based callers) or 1-201-689-8345 (for international callers), and asking the operator for the Diana Shipping Inc. conference call.

A replay of the webcast will be available soon after the completion of the call and will be accessible for 30 days on www.dianashippinginc.com. A telephone replay also will be available for 30 days by dialing 1-877-660-6853 (for U.S.-based callers) or 1-201-612-7415 (for international callers), and providing the Replay ID number 13574615.


 
 
 

About the Company

Diana Shipping Inc. is a leading global provider of shipping transportation services through its ownership of dry bulk vessels. The Company's vessels are employed primarily on medium to long-term time charters and transport a range of dry bulk cargoes, including such commodities as iron ore, coal, grain and other materials along worldwide shipping routes.

Cautionary Statement Regarding Forward-Looking Statements

Matters discussed in this press release may constitute forward-looking statements.  The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business.  Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts.

The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "anticipate," "intends," "estimate," "forecast," "project," "plan," "potential," "may," "should," "expect," "pending" and similar expressions identify forward-looking statements.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, our management's examination of historical operating trends, data contained in our records and other data available from third parties.  Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in our operating expenses, including bunker prices, drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessel breakdowns and instances of off-hires and other factors.  Please see our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties.

(See financial tables attached)

 
 
 


DIANA SHIPPING INC.
  
FINANCIAL TABLES
  
Expressed in thousands of U.S. Dollars, except share and per share data
  
 
  
 
    
 
    
 
    
 
  
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME / (LOSS)
  
 
  
 
    
 
    
 
    
 
  
 
  
Three months ended December 31,
    
Year ended December 31,
  
 
  
2013
    
2012
    
2013
    
2012
  
 
  
 
    
 
    
 
    
 
  
REVENUES:
  
 
    
 
    
 
    
 
  
Time charter revenues
   $ 39,464     $ 49,379     $ 164,005     $ 220,785  
Other revenues
     -       648       447       2,447  
 
                                
EXPENSES:
                                
Voyage expenses
     1,798       2,083       8,119       8,274  
Vessel operating expenses
     19,949       19,316       77,211       66,293  
Depreciation and amortization of deferred charges
     16,876       16,102       64,741       62,010  
General and administrative expenses
     7,382       6,009       23,724       24,913  
Foreign currency gains
     (117 )     (264 )     (690 )     (1,374 )
Operating income / (loss)
     (6,424 )     6,781       (8,653 )     63,116  
 
                                
OTHER INCOME / (EXPENSES):
                                
Interest and finance costs
     (1,993 )     (2,054 )     (8,140 )     (7,618 )
Interest and other income
     929       247       1,800       1,432  
Loss from derivative instruments
     (27 )     (3 )     (118 )     (518 )
Gain / (loss) from investment in Diana Containerships Inc.
     (2,082 )     45       (6,094 )     (1,773 )
Total other expenses, net
     (3,173 )     (1,765 )     (12,552 )     (8,477 )
 
                                
Net Income / (loss)
     (9,597 )     5,016       (21,205 )     54,639  
 
                                
Earnings / (loss) per common share, basic and diluted
   $ (0.12 )   $ 0.06     $ (0.26 )   $ 0.67  
 
                                
Weighted average number of common shares, basic
     81,482,997       80,788,412       81,328,390       81,083,485  
 
                                
Weighted average number of common shares, diluted
     81,482,997       80,901,900       81,328,390       81,083,485  
 
                                
 
  
Three months ended December 31,
    
Year ended December 31,
  
 
     2013       2012       2013       2012  
Net income / (loss)
   $ (9,597 )   $ 5,016     $ (21,205 )   $ 54,639  
Other comprehensive income/(loss) (Actuarial gain/(loss))
     68       306       (30 )     306  
Comprehensive income / (loss)
   $ (9,529 )   $ 5,322     $ (21,235 )   $ 54,945  

 
 
 


CONDENSED CONSOLIDATED BALANCE SHEET DATA (unaudited)
    
 
  
(in thousands of U.S. Dollars)
    
 
  
 
  
 
    
 
  
 
  
2013
    
2012
  
ASSETS
  
 
    
 
  
 
  
 
    
 
  
Cash and cash equivalents
   $ 240,633     $ 446,624  
Other current assets
     11,235       20,362  
Advances for vessels under construction and acquisitions and other vessel costs
     38,862       11,502  
Vessels' net book value
     1,320,375       1,211,138  
Other fixed assets, net
     22,826       22,774  
Other non-current assets
     68,050       30,402  
Total assets
   $ 1,701,981     $ 1,742,802  
 
                
LIABILITIES AND STOCKHOLDERS' EQUITY
                
 
                
Current liabilities, including current portion of long-term debt
   $ 62,752     $ 61,477  
Long-term debt, net of current portion and deferred financing costs
     385,025       414,080  
Other non-current liabilities
     812       821  
Total stockholders' equity
     1,253,392       1,266,424  
Total liabilities and stockholders' equity
   $ 1,701,981     $ 1,742,802  

OTHER FINANCIAL DATA (unaudited)
  
 
  
Three months ended December 31,
    
Year ended December 31,
  
 
  
2013
    
2012
    
2013
    
2012
  
 
  
 
    
 
    
 
    
 
  
 Net Cash provided by operating activities
   $ 16,395     $ 22,334     $ 67,400     $ 119,886  
 Net Cash used in investing activities
     (72,617 )     (28,248 )     (245,156 )     (169,913 )
 Net Cash provided by / (used in) financing activities
   $ (18,885 )   $ 84     $ (28,235 )   $ 79,977