SAN FRANCISCO (Thomson Financial) - Ultrapetrol Ltd. late Monday reported first-quarter adjusted earnings of $5.8 million, or 18 cents a share, topping the 14-cent mean estimate of analysts polled by Thomson Reuters
In the same period last year, the Bahamas-based provider of marine transportation services posted an adjusted profit of $2.8 million, or 10 cents a share.
Net earnings in the quarter ended March 31 was $17.3 million, or 52 cents, a share, up from $2 million, or 7 cents a share, in the year-ago period.
Revenue climbed 48% to $67.4 million.
Shares of Ultrapetrol closed at $11.93.
Gabriel Madway gm COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.