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TOP SHIPS Inc. (TOPS) - Financial and Strategic SWOT Analysis Review

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TOP SHIPS Inc. (TOPS) - Financial and Strategic SWOT Analysis Review Summary TOP SHIPS Inc. (Top Ships, formerly known as TOP Tankers Inc.) is an international maritime shipping company. Top Ships engages in offering transportation services for petroleum products, crude oil and drybulk commodities. The company serves various industries, such as, steel, electric utility, construction and agriculture-food industries. Top Ships owns and operates a fleet of 13 vessels, consisting eight tanker vessels and five drybulk carriers. The fleet has total cargo carrying capacity of approximately 0.71 million dwt (dead weight tonnage). The company’s fleet consists of eight Handymax double hull tankers that carry chemical, petroleum products or crude oil. Top Ships, together with its single operating subsidiary, engages in chartering, operational and technical management of its fleet. The company is headquartered in Maroussi, Greece. TOP SHIPS Inc. Key Recent Developments… Mar 18, 2011: Top Ships Reports Revenues Of $91m In 2010 Jan 26, 2011: TOP Ships Announces Development Related To Charters Of Ionian Wave And Tyrrhenian Wave Jan 10, 2011: TOP Ships Regains Compliance With Nasdaq Minimum Bid Price Requirement Nov 18, 2010: TOP Ships Reports Net Income Of $1.07 Million For Q3 2010 Oct 21, 2010: Top Ships Announces Corporate Developments This comprehensive SWOT profile of TOP SHIPS Inc. provides you an in-depth strategic SWOT analysis of the company’s businesses and operations. The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company’s key strengths and weaknesses and the potential opportunities and threats. The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and competitors better. The profile contains critical company information including: - Business description – A detailed description of the company’s operations and business divisio

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									       TOP SHIPS Inc. (TOPS) - Financial and Strategic SWOT Analysis Review

      Reference Code: GDGE14529FSA                                                                                        Publication Date: APR 2011

      1, Vassilissis Sofias Str. & Meg.,        Phone                                                      Revenue
                                                                    +30 210 6978100                                           90.9 (million USD)
      Alexandrou Str.
      Maroussi                                  Fax                                                        Net Profit         2.51 (million USD)
      151 24                                    Website             www.topships.org                       Employees          4
      Greece                                    Exchange            TOPS [NASDAQ]                          Industry           Energy and Utilities

      Company Overview
      TOP SHIPS Inc. (Top Ships, formerly known as TOP Tankers Inc.) is an international maritime shipping company. Top Ships
      engages in offering transportation services for petroleum products, crude oil and drybulk commodities. The company serves
      various industries, such as, steel, electric utility, construction and agriculture-food industries. Top Ships owns and operates a fleet
      of 13 vessels, consisting eight tanker vessels and five drybulk carriers. The fleet has total cargo carrying capacity of
      approximately 0.71 million dwt (dead weight tonnage). The company’s fleet consists of eight Handymax double hull tankers that
      carry chemical, petroleum products or crude oil.

      Key Executives                                                                  SWOT Analysis
                     Name                                   Title                     TOP SHIPS Inc., SWOT Analysis
      Evangelos J. Pistiolis                Chief Executive Officer                   Strengths                 Weaknesses

      Vangelis G. Ikonomou                  Chairman
                                                                                                                          Breach of Charter by
      Alexandros Tsirikos                   Chief Financial Officer                    Unique Chartering Strategy         Customer
      Michael G. Docherty                   Director
                                                                                       Strong Profitability Position      Significant Voting Rights with
      Roy Gibbs                             Director                                                                      Certain Stockholder
      Source: Annual Report, Company Website, Primary and Secondary Research,
      GlobalData

      Share Data
                                                                                      Opportunities                       Threats
      TOP SHIPS Inc.
       Share Price (USD) as on 06-Apr-2011                                  0.72       Rising Deepwater E&P               Stringent Government
                                                                                       Activities                         Regulations
       EPS (USD)                                                            0.08

       Market Cap (million USD)                                                  24    Long-term Agreements               Competitive Pressures
       Enterprise Value (million USD)                                           374

       Shares Outstanding (million)                                              33
                                                                                       Source: Annual Report, Company Website, Primary and Secondary
       Source: Annual Report, Company Website, Primary and Secondary Research,
                                                                                       Research, GlobalData
       GlobalData

      Financial Performance                                                            Recent Developments
                                                                                       Mar 18, 2011        Top Ships Reports Revenues Of $91m In
                                                                                                           2010
                                                                                       Jan 26, 2011        TOP Ships Announces Development
                                                                                                           Related To Charters Of Ionian Wave And
                                                                                                           Tyrrhenian Wave
                                                                                       Jan 10, 2011        TOP Ships Regains Compliance With
                                                                                                           Nasdaq Minimum Bid Price Requirement
                                                                                       Nov 18, 2010        TOP Ships Reports Net Income Of $1.07
                                                                                                           Million For Q3 2010
                                                                                       Oct 21, 2010        Top    Ships           Announces      Corporate
       Source: Annual Report, Company Website, Primary and Secondary Research,
       GlobalData                                                                                          Developments
                                                                                       Source: Annual Report, Company Website, Primary and Secondary
                                                                                       Research, GlobalData




TOP SHIPS Inc. (TOPS) - Financial and Strategic SWOT Analysis Review                                                               Reference Code: GDGE14529FSA

Source : www.globalcompanyintelligence.com                                                                                                                   Page 1
      Table of Contents
      Table of Contents........................................................................................................................................................................................................... 2
      List of Tables .................................................................................................................................................................................................................. 4
      List of Figures................................................................................................................................................................................................................. 4
      Section 1 - About the Company ..................................................................................................................................................................................... 5
      TOP SHIPS Inc. - Key Facts .......................................................................................................................................................................................... 5
      TOP SHIPS Inc. - Key Employees ................................................................................................................................................................................. 6
      TOP SHIPS Inc. - Key Employee Biographies............................................................................................................................................................... 7
      TOP SHIPS Inc. - Major Products and Services ............................................................................................................................................................ 8
      TOP SHIPS Inc. - History............................................................................................................................................................................................... 9
      TOP SHIPS Inc. - Locations And Subsidiaries............................................................................................................................................................. 10
            Head Office............................................................................................................................................................................................................ 10
            Other Locations & Subsidiaries ............................................................................................................................................................................. 10
      Section 2 – Company Analysis .................................................................................................................................................................................... 11
      TOP SHIPS Inc. - Business Description ...................................................................................................................................................................... 11
      TOP SHIPS Inc. - Corporate Strategy.......................................................................................................................................................................... 12
      TOP SHIPS Inc. - SWOT Analysis............................................................................................................................................................................... 13
            SWOT Analysis - Overview ................................................................................................................................................................................... 13
            TOP SHIPS Inc. - Strengths .................................................................................................................................................................................. 13
                  Strength - Unique Chartering Strategy............................................................................................................................................................ 13
                  Strength - Strong Profitability Position ............................................................................................................................................................ 13
                  Strength - Potential Asset Base ...................................................................................................................................................................... 13
            TOP SHIPS Inc. - Weaknesses ............................................................................................................................................................................. 14
                  Weakness - Breach of Charter by Customer .................................................................................................................................................. 14
                  Weakness - Significant Voting Rights with Certain Stockholder ..................................................................................................................... 14
                  Weakness - Dependence on Few Customers................................................................................................................................................. 14
            TOP SHIPS Inc. - Opportunities ............................................................................................................................................................................ 14
                  Opportunity - Rising Deepwater E&P Activities............................................................................................................................................... 14
                  Opportunity - Long-term Agreements.............................................................................................................................................................. 14
                  Opportunity - Expansion of Fleet..................................................................................................................................................................... 15
            TOP SHIPS Inc. - Threats ..................................................................................................................................................................................... 15
                  Threat - Stringent Government Regulations ................................................................................................................................................... 15
                  Threat - Competitive Pressures ...................................................................................................................................................................... 15
                  Threat - Increasing Frequency of Piracy ......................................................................................................................................................... 15
      TOP SHIPS Inc. - Key Competitors ............................................................................................................................................................................. 16
      Section 3 – Company Financial Ratios ........................................................................................................................................................................ 17
            Financial Ratios - Capital Market Ratios................................................................................................................................................................ 17
            Financial Ratios - Annual Ratios............................................................................................................................................................................ 17
            Performance Chart ..................................................................................................
								
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