ATHENS, Greece (AP) _ Diana Shipping inc. (DSX) on Thursday reported first-quarter net income of $3 million, after reporting a loss in the same period a year earlier.
The Athens, Greece-based company said it had profit of 2 cents per share. Earnings, adjusted for asset impairment costs, were 7 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
The shipping company posted revenue of $60.3 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $55.9 million.
The company's shares closed at $3.22. A year ago, they were trading at $3.85.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DSX at https://www.zacks.com/ap/DSX