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Nordic American Tankers: 1Q Earnings Snapshot

HAMILTON, Bermuda (AP) _ Nordic American Tankers Ltd. (NAT) on Tuesday reported first-quarter net income of $5.6 million, after reporting a loss in the same period a year earlier.

The Hamilton, Bermuda-based company said it had profit of 4 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The tanker company posted revenue of $53.6 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $49.8 million.

In the final minutes of trading on Tuesday, the company's shares hit $2.20. A year ago, they were trading at $2.03.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on NAT at https://www.zacks.com/ap/NAT