Pangaea Logistics Solutions Ltd. Q1 adjusted earnings of $0.10 per share

(RTTNews) - Pangaea Logistics Solutions Ltd. (PANL) released earnings for its first quarter that rose from last year.

The company's profit totaled $4.32 million, or $0.10 per share. This compares with $1.35 million, or $0.04 per share, in last year's first quarter.

Excluding items, Pangaea Logistics Solutions Ltd. reported adjusted earnings of $4.32 million or $0.10 per share for the period.

The company's revenue for the quarter fell 6.5% to $78.97 million from $84.45 million last year.

Pangaea Logistics Solutions Ltd. earnings at a glance:

-Earnings (Q1): $4.32 Mln. vs. $3.48 Mln. last year. -EPS (Q1): $0.10 vs. $0.10 last year. -Revenue (Q1): $78.97 Mln vs. $84.45 Mln last year.