UNITY BANCORP INC (UNTY) released a profit for its fourth quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $11.5 million, or $1.13 per share. This compares with $10.9 million, or $1.07 per share, in last year's fourth quarter.
Analysts on average had expected the company to earn $1.06 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 0.5% to $42.2 million from $42.4 million last year.
UNITY BANCORP INC earnings at a glance (GAAP) :
-Earnings (Q4): $11.5 Mln. vs. $10.9 Mln. last year.
-EPS (Q4): $1.13 vs. $1.07 last year.
-Revenue (Q4): $42.2 Mln vs. $42.4 Mln last year.
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