Pangaea Logistics Solutions Ltd. Q4 Profit Decreases, misses estimates

(RTTNews) - Pangaea Logistics Solutions Ltd. (PANL) released earnings for fourth quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $1.14 million, or $0.03 per share. This compares with $15.50 million, or $0.34 per share, in last year's fourth quarter.

Excluding items, Pangaea Logistics Solutions Ltd. reported adjusted earnings of $7.39 million or $0.16 per share for the period.

Analysts on average had expected the company to earn $0.34 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 4.2% to $122.28 million from $117.34 million last year.

Pangaea Logistics Solutions Ltd. earnings at a glance (GAAP) :

-Earnings (Q4): $1.14 Mln. vs. $15.50 Mln. last year. -EPS (Q4): $0.03 vs. $0.34 last year. -Revenue (Q4): $122.28 Mln vs. $117.34 Mln last year.