StealthGas Inc. (GASS) reported net income for the first quarter of $6.5 million or $0.31 per share, compared to $7.4 million or $0.36 per share for the year-ago quarter.
Excluding items, adjusted net income for the first quarter was $5.3 million or $0.26 per share, compared to $5.2 million or $0.25 per share in the prior year quarter.
Revenues for the first quarter rose 1% to $29.4 million from $29.1 million a year ago, mainly due to the higher number of vessels under spot charters in the latest period.
Analysts polled by Thomson Reuters expected the company to earn $0.31 per share on revenue of $27.88 million for the first quarter. Analysts' estimates typically exclude special items.
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