Costamare Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported voyage revenues of $110,134,000 compared with $122,276,000 a year ago. The decrease is mainly attributable to decreased charter rates for certain of vessels during the three-month period ended December 31, 2016 compared to the three-month period ended December 31, 2015, revenue not earned by two vessels sold for demolition in November 2015 and in August 2016, respectively and decreased revenue days of fleet during the three-month period ended December 31, 2016 compared to the three-month period ended December 31, 2015; partly offset by decreased off-hire days of fleet during the three-month period ended December 31, 2016 compared to the three-month period ended December 31, 2015. Operating income was $5,732,000 compared with $54,093,000 a year ago. Net loss available to common stockholders was $16,274,000 or $0.20 per basic and diluted share compared with net income available to common stockholders of $33,062,000 or $0.44 per basic and diluted share a year ago. Adjusted net earnings available to common stockholders was $23,039,000 or $0.28 per share compared with $32,772,000 or $0.44 per share a year ago. Net cash flows provided by operating activities decreased by $5.5 million to $57.0 million compared to $62.5 million a year ago. The decrease is mainly attributable to the decreased cash from operations of $15.6 million; partly off-set by decreased special survey costs of $2.5 million compared a year ago. For the full year, the company reported voyage revenues of $468,189,000 compared with $490,378,000 a year ago. The decrease is mainly attributable to decreased charter rates for certain of vessels during the year ended December 31, 2016 compared to the year ended December 31, 2015, revenue not earned by two vessels sold for demolition in November 2015 and in August 2016, respectively and decreased revenue days of fleet during the year ended December 31, 2016 compared to the year ended December 31, 2015; partly offset by decreased off-hire days of fleet during the year ended December 31, 2016 compared to the year ended December 31, 2015 and by revenue earned due to the year ended December 31, 2016 being a leap year. Operating income was $166,055,000 compared with $217,913,000 a year ago. Net income available to common stockholders was $60,639,000 or $0.79 per basic and diluted share compared with $125,861,000 or $1.68 per basic and diluted share a year ago. Adjusted net earnings available to common stockholders was $115,120,000 or $1.49 per share compared with $130,351,000 or $1.74 per share a year ago. Net cash provided by operating activities was $226.6 million compared with $244.7 million a year ago. The decrease is mainly attributable to decreased cash from operations of $32.5 million; partly offset by decreased payments for interest (including swap payments) of $3.0 million compared to a year ago and decreased special survey costs of $3.6 million compared to a year ago.