Pangaea Logistics: 2Q Earnings Snapshot
NEWPORT, R.I. (AP) _ Pangaea Logistics Solutions Ltd. (PANL) on Tuesday reported second-quarter net income of $5.8 million, after reporting a loss in the same period a year earlier.
The Newport, Rhode Island-based company said it had net income of 13 cents per share. Earnings, adjusted for non-recurring costs, came to 16 cents per share.
The maritime logistics company posted revenue of $96.8 million in the period.
In the final minutes of trading on Tuesday, the company’s shares hit $3.23. A year ago, they were trading at $2.76.