StealthGas Profit Falls; Stock Down - Quick Facts

(RTTNews) - StealthGas Inc. (GASS), a ship-owning company serving the liquefied petroleum gas sector, Tuesday reported second-quarter net income of $5 million or $0.18 per share, compared with $5 million or $0.35 per share last year.

Excluding items, adjusted earnings for the quarter were $4.4 million or $0.16 per share, compared with $6.5 million or $0.31 per share a year ago.

Revenues for the quarter were $30 million, compared with $29 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.27 per share on revenues of $30.34 million for the quarter. Analysts' estimates typically exclude special items.

Expenses for the quarter were higher at $23 million, compared with $19 million a year ago.

The company's stock is trading at $8.95, down $0.55 or 5.79%, on a volume of 1.6 million shares on the Nasdaq.