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The company's time charter revenue for the second quarter of 2009 was $42.3 million, compared to $40.6 million in the same quarter of 2008.
For the six months ended June 30, 2009, the company has reported a net income of $35 million or $1.17 per basic and diluted share, compared to $40.4 million or $1.51 and $1.50 per basic and diluted share in the same period of 2008.
Time charter revenue for the first half of 2009 was $83.9 million, compared to $81.1 million in the first half of 2008.
Michael Bodouroglou, chairman and CEO of Paragon Shipping, said: "We are pleased to announce another profitable quarter for Paragon with our strongest quarterly operating performance to date. This has been achieved through our significant charter coverage and disciplined approach to cost controls."
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