Costamare Q1 Adj. Profit Tops View - Quick Facts

(RTTNews) - Costamare Inc. (CMRE) Tuesday reported first-quarter net income available to common stockholders of $17.2 million or $0.23, compared to $24.7 million or $0.33 per share last year.

Adjusted income for the quarter improved to $26.3 million or $0.35 per share from $21.9 million or $0.29 per share in the prior year quarter. On average, nine analysts polled by Thomson Reuters expected earnings of $0.33 per share for the quarter. Analysts' estimates typically exclude one-time items.

Voyage revenues for the quarter increased to $114.90 million from $91.54 million last year. Analysts estimated revenues of $119.39 million for the quarter.

On April 29, 2014, the Board of Directors approved a one cent increase in the quarterly dividend and the company declared a dividend of $0.28 per share of common stock for the first quarter ended March 31, 2014, payable on May 13, 2014, to stockholders of record on May 9, 2014.