Pangaea Logistics Solutions Ltd. Earnings Retreat 98% In Q2

(RTTNews) - Pangaea Logistics Solutions Ltd. (PANL) revealed a profit for second quarter that lost ground compared to the same period last year.

The company said its bottom line declined to $0.13 million, or $0.004 per share. This was lower than $5.46 million, or $0.15 per share, in last year's second quarter.

The company said revenue for the quarter fell 12.5% to $56.96 million. This was down from $65.10 million last year.

Pangaea Logistics Solutions Ltd. earnings at a glance:

-Earnings (Q2): $0.13 Mln. vs. $5.46 Mln. last year. -Earnings Decline (Y-o-Y): -97.6% -EPS (Q2): $0.004 vs. $0.15 last year. -EPS Decline (Y-o-Y): -97.3% -Revenue (Q2): $56.96 Mln vs. $65.10 Mln last year. -Revenue Change (Y-o-Y): -12.5%