6-K 1 d8410852_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 December 2019
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 dated December 2, 2019 of Diana Shipping Inc. (the "Company") announcing the Company’s financial results for the third quarter and nine months ended September 30, 2019.

SIGNATURES

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: December 2, 2019
By:
/s/ Andreas Michalopoulos
   
Andreas Michalopoulos
   
Chief Financial Officer
     
     





Exhibit 99.1

 
Corporate Contact:
 
Ioannis Zafirakis
 
Director, Chief Strategy Officer 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 THIRD QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2019

ATHENS, GREECE, December 2, 2019 – Diana Shipping Inc. (NYSE: DSX), (the “Company”), a global shipping company specializing in the ownership of dry bulk vessels, today reported net income of $1.8 million and net income attributed to common stockholders of $0.3 million for the third quarter of 2019. This compares to net income of $14.8 million and net income attributed to common stockholders of $13.3 million reported in the third quarter of 2018.
Time charter revenues were $53.5 million for the third quarter of 2019, compared to $61.5 million for the same period of 2018. The decrease in time charter revenues was mainly due to decreased revenues due to the sale of two vessels in December 2018 and five vessels during the nine months ended September 30, 2019 and decreased average time charter rates that the Company achieved for its vessels during the quarter.
Net income for the nine months ended September 30, 2019 amounted to $3.4 million and net loss attributed to common stockholders amounted to $0.9 million, including a $7.5 million impairment loss. This compares to net income and net income attributed to common stockholders of $13.7 million and $9.3 million, respectively, for the same period of 2018. Time charter revenues were $169.2 million for the nine months ended September 30, 2019, compared to $163.3 million for the same period of 2018.



-1-

 
Fleet Employment Profile (As of November 28, 2019)
 
Diana Shipping Inc.’s fleet is employed as follows:
                 
 
Vessel
Sister Ships*
Gross Rate (USD Per Day)
Com**
Charterers
Delivery Date to Charterers***
Redelivery Date to Owners****
Notes
 
BUILT    DWT
 
14 Panamax Bulk Carriers
-
NIREFS
A
$10,750
3.75%
Hudson Shipping Lines Incorporated
11-Aug-18
29-Aug-19
1
 
2001    75,311
             
1
OCEANIS
A
$10,350
5.00%
Ausca Shipping Limited, Hong Kong
16-Nov-18
1-Jan-20 - 31-Mar-20
2
 
2001    75,211
             
2
PROTEFS
B
$11,000
3.75%
Hudson Shipping Lines Incorporated
19-Sep-18
29-Nov-19
3
     
$9,900
5.00%
Phaethon International Company AG
29-Nov-19
1-Jan-21 - 31-Mar-21
4
 
2004    73,630
             
3
CALIPSO
B
$12,200
5.00%
Glencore Agriculture B.V., Rotterdam
12-Mar-18
23-Sep-19
5
     
$15,400
5.00%
Crystal Sea Shipping Co., Limited
1-Nov-19
26-Dec-19
6
 
2005    73,691
             
-
CLIO
B
$10,600
5.00%
Ausca Shipping Limited, Hong Kong
10-Nov-18
5-Nov-19
7
 
2005    73,691
             
4
NAIAS
B
$10,000
5.00%
Phaethon International Company AG
26-Jan-19
26-Dec-20 - 10-Apr-21
 
 
2006    73,546
             
5
ARETHUSA
B
$9,150
5.00%
Ausca Shipping Limited, Hong Kong
2-May-19
2-May-20 - 2-Aug-20
 
 
2007     73,593
             
6
CORONIS
 
$11,300
5.00%
CJ International Italy Societa Per Azioni
10-Oct-18
10-Nov-19
 
     
$12,000
5.00%
Dampskibsselskabet Norden A/S, Copenhagen
10-Nov-19
10-Dec-19
8
 
2006    74,381
             
7
MELIA
 
$12,000
5.00%
United Bulk Carriers International S.A., Luxemburg
28-Apr-18
22-Nov-19
9
 
2005     76,225
             
8
ARTEMIS
 
$12,600
5.00%
Ausca Shipping Limited, Hong Kong
17-Sep-18
28-Nov-19
10
 
2006     76,942
             
9
LETO
 
$13,000
5.00%
Uniper Global Commodities SE, Düsseldorf
31-May-19
1-May-20 - 1-Jul-20
 
 
2010     81,297
             
10
SELINA
C
$12,250
5.00%
BG Shipping Co., Limited, Hong Kong
6-Feb-18
15-Jul-19
 
     
$11,750
5.00%
Ausca Shipping Limited, Hong Kong
15-Jul-19
15-Feb-20 - 15-Apr-20
 
 
2010     75,700
             
-2-


11
MAERA
C
$9,450
5.00%
Glencore Agriculture B.V., Rotterdam
27-Mar-19
10-Apr-20 - 10-Jul-20
 
 
2013     75,403
             
12
ISMENE
 
$12,125
5.00%
Koch Shipping Pte. Ltd., Singapore
12-Dec-18
1-Jan-20 - 31-Mar-20
 
 
2013     77,901
             
13
CRYSTALIA
D
$10,500
5.00%
Glencore Agriculture B.V., Rotterdam
2-Mar-19
2-May-20 - 2-Aug-20
 
 
2014    77,525
             
14
ATALANDI
D
$13,500
5.00%
Uniper Global Commodities SE, Düsseldorf
27-Apr-18
9-Jul-19
11
     
$12,250
5.00%
9-Jul-19
9-Jun-20 - 24-Aug-20
 
 
2014    77,529
             
 
5 Kamsarmax Bulk Carriers
15
MAIA
E
$13,300
5.00%
Glencore Agriculture B.V., Rotterdam
12-Nov-18
1-Jan-20 - 31-Mar-20
12
 
2009     82,193
             
16
MYRSINI
E
$12,750
5.00%
Glencore Agriculture B.V., Rotterdam
22-Dec-18
6-Dec-19
10
 
2010     82,117
             
17
MEDUSA
E
$14,000
4.75%
Cargill International S.A., Geneva
3-Sep-18
15-Nov-19
 
     
$11,000
4.75%
16-Nov-19
1-Oct-20 - 16-Dec-20
 
 
2010     82,194
             
18
MYRTO
E
$14,000
4.75%
Cargill International S.A., Geneva
25-Apr-18
18-Jul-19
 
     
$14,000
4.75%
18-Jul-19
3-Apr-20 - 18-Jun-20
 
 
2013     82,131
             
19
ASTARTE
 
$14,250
5.00%
Glencore Agriculture B.V., Rotterdam
16-Oct-18
16-Dec-19 - 16-Mar-20
 
 
2013     81,513
             
 
5 Post-Panamax Bulk Carriers
20
ALCMENE
 
$11,500
5.00%
BG Shipping Co., Limited, Hong Kong
21-Nov-18
16-Nov-19
 
     
$9,500
5.00%
Oriental Bulk Shipping PTE. LTD
16-Nov-19
26-Dec-19
13
 
2010     93,193
             
21
AMPHITRITE
F
$12,750
5.00%
Uniper Global Commodities SE, Düsseldorf
27-Jan-19
27-Mar-20 - 27-Jun-20
 
 
2012     98,697
             
22
POLYMNIA
F
$16,000
4.75%
Cargill International S.A., Geneva
9-Jul-18
15-Nov-19
 
     
$11,000
4.75%
15-Nov-19
15-Oct-20 - 30-Dec-20
 
 
2012    98,704
             
23
ELECTRA
G
$13,500
5.00%
Uniper Global Commodities SE, Düsseldorf
19-Oct-18
18-Nov-19
 
     
$10,250
5.00%
Oldendorff Carriers GMBH & Co. KG, Lübeck
21-Nov-19
21-Oct-20 - 21-Dec-20
 
 
2013    87,150
             
24
PHAIDRA
G
$10,800
5.00%
Uniper Global Commodities SE, Düsseldorf
11-Apr-19
27-May-20 - 26-Aug-20
 
 
2013    87,146
             
-3-


 
14 Capesize Bulk Carriers
25
NORFOLK
 
$13,250
5.00%
SwissMarine Services S.A., Geneva
1-Dec-17
2-Nov-19
 
     
$17,750
5.00%
Koch Shipping Pte. Ltd., Singapore
2-Nov-19
20-Feb-20 - 20-Apr-20
 
 
2002    164,218
             
26
ALIKI
 
$18,000
5.00%
SwissMarine Services S.A., Geneva
9-Apr-18
9-Dec-19 - 9-Feb-20
 
 
2005    180,235
             
27
BALTIMORE
 
$15,000
5.00%
Koch Shipping Pte. Ltd., Singapore
19-May-19
4-Dec-20 - 3-Apr-21
 
 
2005    177,243
             
28
SALT LAKE CITY
 
$9,750
4.75%
Cargill International S.A., Geneva
24-Mar-19
24-Nov-20 - 24-Feb-21
 
 
2005    171,810
             
29
SIDERIS GS
H
$15,350
5.00%
Berge Bulk Shipping Pte. Ltd., Singapore
15-Dec-18
15-Dec-19 - 30-Mar-20
 
 
2006    174,186
             
30
SEMIRIO
H
$16,000
4.75%
Cargill International S.A., Geneva
30-Jun-19
30-Sep-20 - 30-Dec-20
 
 
2007    174,261
             
31
BOSTON
H
$15,300
5.00%
Oldendorff Carriers GMBH & Co. KG, Lübeck, Germany
7-Jun-19
1-Apr-21 - 30-Jun-21
 
 
2007    177,828
             
32
HOUSTON
H
$10,125
5.00%
Koch Shipping Pte. Ltd., Singapore
17-Feb-19
17-Apr-20 - 1-Aug-20
14
 
2009    177,729
             
33
NEW YORK
H
$15,500
5.00%
Singapore Marine Pte. LTD., Singapore
7-Jun-19
7-Nov-20 - 22-Jan-21
 
 
2010    177,773
             
34
SEATTLE
I
$16,000
5.00%
SwissMarine Services S.A., Geneva
24-Dec-18
24-Apr-20 - 24-Jul-20
 
 
2011     179,362
             
35
P. S. PALIOS
I
$17,500
5.00%
SwissMarine Services S.A., Geneva
5-Jun-19
21-Jan-20 - 20-Mar-20
 
 
2013    179,134
             
36
G. P. ZAFIRAKIS
J
$17,000
5.00%
SwissMarine Services S.A., Geneva
31-Dec-18
31-May-20 - 31-Aug-20
15
 
2014    179,492
             
37
SANTA BARBARA
J
$20,250
4.75%
Cargill International S.A., Geneva
24-Apr-18
7-Dec-19
10
 
2015     179,426
             
38
NEW ORLEANS
 
$15,000
4.75%
Cargill International S.A., Geneva
10-Apr-19
26-Jul-20 - 25-Nov-20
 
 
2015    180,960
             
-4-


 
4 Newcastlemax Bulk Carriers
39
LOS ANGELES
K
$13,250
5.00%
SwissMarine Services S.A., Geneva
6-Mar-19
6-Jun-20 - 6-Sep-20
 
 
2012    206,104
             
40
PHILADELPHIA
K
$20,000
5.00%
Koch Shipping Pte. Ltd., Singapore
18-Jun-18
3-Feb-20 - 18-May-20
 
 
2012    206,040
             
41
SAN FRANCISCO
L
$16,000
5.00%
Koch Shipping Pte. Ltd., Singapore
5-Mar-19
5-Oct-20 - 20-Jan-21
 
 
2017   208,006
             
42
NEWPORT NEWS
L
$16,500
5.00%
SwissMarine Services S.A., Geneva
25-Feb-19
25-Jun-20 - 25-Sep-20
 
 
2017   208,021
             

* 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.
*** In case of newly acquired vessel with time charter attached, this date refers to the expected/actual date of delivery of the vessel to the Company.
**** Range of redelivery dates, with the actual date of redelivery being at the Charterers’ option, but subject to the terms, conditions, and exceptions of the particular charterparty.

1 ''Nirefs'' sold and delivered to her new owners on September 5, 2019.
2 Vessel off hire for drydocking from May 27, 2019 to July 4, 2019.
3 Estimated redelivery date from the charterers.
4 Estimated delivery date to the charterers.
5 Vessel off hire from September 23, 2019 to November 1, 2019.
6 Redelivery date based on an estimated time charter trip duration of about 55 days.
7 "Clio" sold and delivered to her new owners on November 21, 2019.
8 Redelivery date based on an estimated time charter trip duration of about 30 days.
9 Currently without an active charterparty.
10 Based on latest information.
11 Vessel off hire for drydocking  from June 8, 2019 to July 9, 2019
12 Vessel off hire for drydocking from August 27, 2019 to October 6, 2019.
13 Redelivery date based on an estimated time charter trip duration of about 40 days.
14 Vessel currently off hire for drydocking.
15 Vessel off hire for drydocking from August 21, 2019 to September 12, 2019.
-5-

Summary of Selected Financial & Other Data (unaudited)
 
   
Three months ended September 30,
   
Nine months ended September 30,
 
   
2019
   
2018
   
2019
   
2018
 
STATEMENT OF OPERATIONS DATA (in thousands of US Dollars)
 
Time charter revenues
 
$
53,534
   
$
61,505
   
$
169,220
   
$
163,315
 
Voyage expenses
   
3,315
     
1,818
     
9,054
     
4,658
 
Vessel operating expenses
   
21,981
     
22,809
     
67,232
     
70,300
 
Net income/(loss)
   
1,770
     
14,767
     
3,446
     
13,672
 
Net income/(loss) attributed to common stockholders
   
328
     
13,325
     
(880
)
   
9,345
 
FLEET DATA
 
Average number of vessels
   
43.8
     
50.0
     
45.9
     
50.0
 
Number of vessels
   
43.0
     
50.0
     
43.0
     
50.0
 
Weighted average age of vessels
   
9.4
     
9.1
     
9.4
     
9.1
 
Ownership days
   
4,027
     
4,600
     
12,526
     
13,650
 
Available days
   
3,960
     
4,600
     
12,358
     
13,519
 
Operating days
   
3,938
     
4,576
     
12,255
     
13,394
 
Fleet utilization
   
99.4
%
   
99.5
%
   
99.2
%
   
99.1
%
AVERAGE DAILY RESULTS
 
Time charter equivalent (TCE) rate (1)
 
$
12,682
   
$
12,975
   
$
12,961
   
$
11,736
 
Daily vessel operating expenses (2)
 
$
5,458
   
$
4,958
   
$
5,367
   
$
5,150
 


__________________
(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.
-6-


Conference Call and Webcast Information

The Company’s management will conduct a conference call and simultaneous Internet webcast to review these results at 9:00 A.M. (Eastern Time) on Monday, December 2, 2019.

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 13696449.

About the Company

Diana Shipping Inc. is a 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, Company management’s examination of historical operating trends, data contained in the Company’s records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company’s control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections.

In addition to these important factors, other important factors that, in the Company’s 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 the Company’s operating expenses, including bunker prices, drydocking and insurance costs, the market for the Company’s 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 the Company’s filings with the U.S. Securities and Exchange Commission for a more complete discussion of these and other risks and uncertainties. The Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

(See financial tables attached)
-7-

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 September 30,
   
Nine months ended September 30,
 
   
2019
   
2018
   
2019
   
2018
 
                         
REVENUES:
                       
Time charter revenues
 
$
53,534
   
$
61,505
   
$
169,220
   
$
163,315
 
EXPENSES:
                               
Voyage expenses
   
3,315
     
1,818
     
9,054
     
4,658
 
Vessel operating expenses
   
21,981
     
22,809
     
67,232
     
70,300
 
Depreciation and amortization of deferred charges
   
12,113
     
13,177
     
36,841
     
39,204
 
General and administrative expenses
   
7,137
     
6,805
     
20,782
     
20,522
 
Management fees to related party
   
537
     
600
     
1,567
     
1,800
 
Impairment loss
   
-
     
-
     
7,519
     
-
 
Loss from sale of vessels
   
716
     
-
     
2,835
     
-
 
Other gain
   
(489
)
   
(118
)
   
(556
)
   
(296
)
Operating income
 
$
8,224
     
16,414
     
23,946
     
27,127
 
                                 
OTHER INCOME / (EXPENSES):
                               
Interest and finance costs
   
(7,206
)
   
(7,175
)
   
(22,709
)
   
(21,468
)
Interest and other income
   
754
     
5,508
     
2,255
     
7,982
 
Gain/(loss) from equity method investment
   
(2
)
   
20
     
(46
)
   
31
 
Total other expenses, net
 
$
(6,454
)
   
(1,647
)
   
(20,500
)
   
(13,455
)
                                 
Net income
 
$
1,770
   
$
14,767
   
$
3,446
   
$
13,672
 
Dividends on series B preferred shares
   
(1,442
)
   
(1,442
)
   
(4,326
)
   
(4,327
)
Net income/(loss) attributed to common stockholders
   
328
     
13,325
     
(880
)
   
9,345
 
Earnings/(loss) per common share, basic and diluted
 
$
-
   
$
0.13
   
$
(0.01
)
 
$
0.09
 
Weighted average number of common shares, basic
   
93,359,239
     
103,959,717
     
96,934,593
     
103,684,250
 
                                 
Weighted average number of common shares, diluted
   
94,274,398
     
105,234,812
     
96,934,593
     
104,567,959
 

   
Three months ended September 30,
   
Nine months ended September 30,
 
   
2019
   
2018
   
2019
   
2018
 
                         
Net income/(loss)
 
$
1,770
   
$
14,767
   
$
3,446
   
$
13,672
 
Other comprehensive loss (Actuarial loss)
   
(9
)
   
(8
)
   
(27
)
   
(24
)
Comprehensive income/(loss)
 
$
1,761
   
$
14,759
   
$
3,419
   
$
13,648
 



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CONDENSED CONSOLIDATED BALANCE SHEET DATA
       
(in thousands of U.S. Dollars)
       
             
   
September 30, 2019
   
December 31, 2018*
 
ASSETS
 
(unaudited)
       
             
Cash and cash equivalents
 
$
127,272
   
$
126,825
 
Other current assets
   
16,929
     
15,147
 
Vessels, net
   
915,383
     
991,403
 
Other fixed assets, net
   
22,162
     
22,425
 
Restricted cash, non-current
   
21,500
     
24,582
 
Investments in related parties
   
3,217
     
3,263
 
Other non-current assets
   
5,642
     
4,151
 
Total assets
 
$
1,112,105
   
$
1,187,796
 
                 
LIABILITIES AND STOCKHOLDERS' EQUITY
               
                 
Long-term debt, net of deferred financing costs
 
$
485,527
   
$
530,547
 
Other liabilities
   
22,659
     
29,565
 
Total stockholders' equity
   
603,919
     
627,684
 
Total liabilities and stockholders' equity
 
$
1,112,105
   
$
1,187,796
 
                 

* The balance sheet data have been derived from the audited consolidated financial statements at that date.

OTHER FINANCIAL DATA (unaudited)
 
   
Three months ended September 30,
   
Nine months ended September 30,
 
   
2019
   
2018
   
2019
   
2018
 
                         
Net cash provided by operating activities
 
$
11,523
   
$
24,180
   
$
44,475
   
$
51,971
 
Net cash provided by investment activities
   
12,244
     
38,563
     
32,384
     
85,888
 
Net cash provided by/(used in) financing activities
 
$
(18,914
)
 
$
31,436
   
$
(78,912
)
 
$
(1,562
)





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