Paragon Shipping Inc. (PRGN) Thursday reported a profit for the second quarter compared to a loss last year.
The Voula, Greece-based company's second-quarter net profit was $179 thousand or $0.003 per share, compared to a net loss of $16.78 million or $0.280 per share last year.
Adjusted income for the quarter was $467 thousand or $0.008 per share, compared to $5.20 million or $0.087 per share in the prior-year quarter.
On average, four analysts polled by Thomson Reuters expected loss of $0.05 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter dropped to $11.95 million from $$23.65 million in the prior-year quarter. Three analysts had a consensus revenue estimate of $13.28 million for the quarter.
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