GasLog Q4 Results Beat Estimates - Quick Facts

(RTTNews) - GasLog Ltd. (GLOG), a Monaco-based operator of liquefied natural gas carriers, reported fourth-quarter net income of $9.95 million or $0.11 per share, down from $21.45 million or $0.34 per share in the year-ago quarter.

The decline in profit for the quarter reflects the non-cash write-off of unamortized loan fees of $5.8 million related to the refinancing of the GasLog Partners' loan facilities, as well as an increase of non-cash loss on swaps by $12.8 million.

However, adjusted net income was $23.97 million, compared to $17.38 million in the year-ago period, while adjusted earnings were flat with last year at $0.28 per share.

On average, ten analysts polled by Thomson Reuters expected the company to report earnings of $0.18 per share for the quarter. Analysts' estimates typically exclude special items.

The increase in adjusted profit was mainly attributable to the significant growth in the company's fleet in 2014.

Revenues for the quarter rose to $98.96 million from $59.34 million in the previous-year quarter. Wall Street expected revenues of $96.43 million for the quarter.

The increase in revenues was mainly attributable to the increase in operating days.

The company's board of directors declared a quarterly cash dividend of $0.14 per common share payable on March 13, 2015 to shareholders of record as of March 10, 2015.