* Q4 adj loss/shr $0.06 vs est loss/shr $0.03
* Q4 rev fell 57 pct to $31.2 mln
* Average TCE rate per day fell 45 pct
Feb 23 (Reuters) - Dry bulk carrier Star Bulk Carriers Corp posted a wider-than-expected quarterly loss, hurt by lower charter rates.
The company's net loss for the fourth quarter was $4.6 million, or 7 cents a share, compared with earnings of $50.2 million, or 89 cents a share, in the year-ago quarter.
Excluding items, the company posted loss of 6 cents a share.
Revenue fell 57 percent to $31.2 million.
Analysts on an average were looking for loss of 3 cents a share, before items, on revenue of $28.1 million, according to Thomson Reuters I/B/E/S.
Average time charter equivalent rate per day fell 45 percent to $23,012 in the fourth quarter.
Star Bulk shares closed at $2.75 Tuesday on Nasdaq.
(Reporting by Arundhati Ramanathan in Bangalore) Keywords: STARBULK/ (arundhati.ramanathan@thomsonreuters.com; within U.S. +646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: arundhati.ramanathan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Q4 rev fell 57 pct to $31.2 mln
* Average TCE rate per day fell 45 pct
Feb 23 (Reuters) - Dry bulk carrier Star Bulk Carriers Corp posted a wider-than-expected quarterly loss, hurt by lower charter rates.
The company's net loss for the fourth quarter was $4.6 million, or 7 cents a share, compared with earnings of $50.2 million, or 89 cents a share, in the year-ago quarter.
Excluding items, the company posted loss of 6 cents a share.
Revenue fell 57 percent to $31.2 million.
Analysts on an average were looking for loss of 3 cents a share, before items, on revenue of $28.1 million, according to Thomson Reuters I/B/E/S.
Average time charter equivalent rate per day fell 45 percent to $23,012 in the fourth quarter.
Star Bulk shares closed at $2.75 Tuesday on Nasdaq.
(Reporting by Arundhati Ramanathan in Bangalore) Keywords: STARBULK/ (arundhati.ramanathan@thomsonreuters.com; within U.S. +646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: arundhati.ramanathan.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.