GasLog Q1 Profit Up, But Misses View - Quick Facts

(RTTNews) - GasLog Ltd. (GLOG), an operator of liquefied natural gas carriers, Wednesday reported higher profit for the first quarter of 2014, reflecting rise in revenues. Adjusted earnings missed consensus estimate.

The company's profit for the period rose to $6.3 million from $5.9 million last year. Earnings per share remained flat at $0.09.

Adjusted profit, excluding the effects of the unrealized gain or loss on swaps and foreign exchange losses, was $9.6 million or $0.13 per share. On average, 11 analysts polled by Thomson Reuters expected earnings per share of $0.17 for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenues advanced to $57.1 million from $21.8 million in the prior-year period. The increase is mainly attributable to the increase in operating days resulting from the delivery of six vessels. Analysts expected revenues of $58.81 million for the quarter.

Further, the board declared a quarterly cash dividend of $0.12 per share payable on June 11, 2014 to shareholders of record as of May 27, 2014.