Westamerica Bancorp Bottom Line Falls In Q1, But Beats Estimates

(RTTNews) - Westamerica Bancorp (WABC) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $31.04 million, or $1.16 per share. This compares with $36.42 million, or $1.37 per share, last year.

Analysts on average had expected the company to earn $1.11 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 12.4% to $66.71 million from $76.19 million last year.

Westamerica Bancorp earnings at a glance (GAAP) :

-Earnings: $31.04 Mln. vs. $36.42 Mln. last year. -EPS: $1.16 vs. $1.37 last year. -Revenue: $66.71 Mln vs. $76.19 Mln last year.