Pangaea Logistics Solutions Ltd. (PANL) released a profit for its fourth quarter that increased from the same period last year but missed the Street estimates.
The company's bottom line came in at $8.43 million, or $0.18 per share. This compares with $1.14 million, or $0.03 per share, last year.
Excluding items, Pangaea Logistics Solutions Ltd. reported adjusted earnings of $7.58 million or $0.16 per share for the period.
Analysts on average had expected the company to earn $0.17 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period rose 11.6% to $147.174 million from $131.876 million last year.
Pangaea Logistics Solutions Ltd. earnings at a glance (GAAP) :
-Earnings: $8.43 Mln. vs. $1.14 Mln. last year.
-EPS: $0.18 vs. $0.03 last year.
-Revenue: $147.174 Mln vs. $131.876 Mln last year.
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