WASHINGTON (dpa-AFX) - Pangaea Logistics Solutions Ltd. (PANL) released earnings for fourth quarter that decreased from the same period last year and missed the Street estimates.
The company's earnings totaled $1.14 million, or $0.03 per share. This compares with $15.50 million, or $0.34 per share, in last year's fourth quarter.
Excluding items, Pangaea Logistics Solutions Ltd. reported adjusted earnings of $7.39 million or $0.16 per share for the period.
Analysts on average had expected the company to earn $0.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 4.2% to $122.28 million from $117.34 million last year.
Pangaea Logistics Solutions Ltd. earnings at a glance (GAAP) :
-Earnings (Q4): $1.14 Mln. vs. $15.50 Mln. last year. -EPS (Q4): $0.03 vs. $0.34 last year. -Revenue (Q4): $122.28 Mln vs. $117.34 Mln last year.
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