Euroseas Ltd. Reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. For the third quarter of 2009, the company reported total net revenues of $17.2 million representing a 51.6% decrease over total net revenues of $35.5 million during the third quarter of 2008. The company reported net income of $2.2 million as compared to net income of $14.5 million for the same period of 2008. Adjusted EBITDA was $5.0 million, a 76.3% decrease from $21.2 million achieved during the third quarter of 2008. Basic and diluted earnings per share were $0.07 compared to basic and diluted earnings per share of $0.47 for the third quarter of 2008. Operating income was $2.68 million compared to $15.64 million for the same period a year ago. Net cash provided by operating activities was $4.52 million compared to $20.63 million for the same period a year ago. For the first nine months of 2009, the company reported total net revenues of $47.3 million representing a 53.9% decrease over total net revenues of $102.7 million during the first nine months of 2008. The company reported net income of $0.7 million as compared to net income of $43.7 million for the first nine months of 2008. Adjusted EBITDA was $17.0 million, a 71.9% decrease from $60.6 million achieved during the first nine months of 2008. Basic and diluted earnings per share were $0.02 compared to basic and diluted earnings per share of $1.44 and $1.43 per share, respectively, for the first nine months of 2008. Operating income was $6.15 million compared to $44.33 million for the same period a year ago. Net cash provided by operating activities was $11.49 million compared to $60.59 million for the same period a year ago. As of September 30, 2009, the net debt position was about $26.4 million. Purchase of vessels including improvements was $62.22 million compared to $43.58 million for the same period a year ago. The company has declared a quarterly dividend of $0.05 per share for the third quarter of 2009 payable on December 18, 2009 to shareholders of record on December 11, 2009. This is the seventeenth consecutive quarterly dividend declared.

Euroseas, Ltd. expected to Report Fiscal Year 2009 Results on February 22, 2010. This event was calculated by Capital IQ (Created on November 16, 2009).

Euroseas, Ltd. - Conference Presentation Calls