Washington Trust Bancorp Inc. Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Washington Trust Bancorp Inc. (WASH) released a profit for third quarter that Decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $10.84 million, or $0.56 per share. This compares with $10.98 million, or $0.64 per share, last year.

Excluding items, Washington Trust Bancorp Inc. reported adjusted earnings of $10.84 million or $0.56 per share for the period.

Analysts on average had expected the company to earn $0.46 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 20.4% to $38.83 million from $32.26 million last year.

Washington Trust Bancorp Inc. earnings at a glance (GAAP) :

-Earnings: $10.84 Mln. vs. $10.98 Mln. last year. -EPS: $0.56 vs. $0.64 last year. -Revenue: $38.83 Mln vs. $32.26 Mln last year.