Costamare Q3 Profit Tops View - Quick Facts

(RTTNews) - Costamare Inc. (CMRE) Wednesday reported third-quarter net income available to common stockholders of $20.4 million or $0.27 per share, compared $12.5 million or $0.18 per share in the prior year quarter.

Adjusted net income for the quarter was $28.7 million or $0.38 per share, up from $20.9 million or $0.31 per share in the comparable quarter last year. On average, 9 analysts polled by Thomson Reuters expected earnings of $0.34 per share for the quarter. Analysts' estimates typically exclude one-time items.

Voyage revenue for the quarter was $110.13 million, compared to $94.89 million last year, while voyage revenues, adjusted on cash basis, rose to $114.17 million from $97.81 million in the year-ago period. Analysts estimated revenues of $112.50 million for the quarter.

On October 8, 2013, the company declared a common stock dividend for the third quarter ended September 30, 2013, of $0.27 per share, payable on November 6, 2013 to stockholders of record on October 23, 2013.