HAMILTON, Bermuda (AP) _ Nordic American Tankers Ltd. (NAT) on Friday reported a loss of $15 million in its second quarter.
On a per-share basis, the Hamilton, Bermuda-based company said it had a loss of 11 cents.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The tanker company posted revenue of $30.7 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $33.6 million.
The company's shares closed at $1.76. A year ago, they were trading at $2.06.