Ardmore Shipping Corp. (ASC) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $5.62 million, or $0.14 per share. This compares with $38.89 million, or $0.92 per share, last year.
Excluding items, Ardmore Shipping Corp. reported adjusted earnings of $5.62 million or $0.14 per share for the period.
Analysts on average had expected the company to earn $0.12 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 30.4% to $73.99 million from $106.31 million last year.
Ardmore Shipping Corp. earnings at a glance (GAAP) :
-Earnings: $5.62 Mln. vs. $38.89 Mln. last year.-EPS: $0.14 vs. $0.92 last year.-Revenue: $73.99 Mln vs. $106.31 Mln last year.
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