Pangaea Logistics Solutions Ltd. Q4 Profit Increases, But Misses Estimates

(RTTNews) - 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.