Pangaea Logistics Solutions Ltd. Q4 Profit beats estimates

(RTTNews) - Pangaea Logistics Solutions Ltd. (PANL) revealed earnings for fourth quarter that beat the Street estimates.

The company's bottom line came in at $15.5 million, or $0.34 per share. This compares with $15.2 million, or $0.34 per share, in last year's fourth quarter.

Analysts on average had expected the company to earn $0.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 45.5% to $127.9 million from $234.6 million last year.

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

-Earnings (Q4): $15.5 Mln. vs. $15.2 Mln. last year. -EPS (Q4): $0.34 vs. $0.34 last year. -Analyst Estimates: $0.29 -Revenue (Q4): $127.9 Mln vs. $234.6 Mln last year.