MONACO (AP) _ Safe Bulkers Inc. (SB) on Tuesday reported fourth-quarter net income of $9.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the company said it had net income of 7 cents.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 9 cents per share.
The shipping company posted revenue of $52.6 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $52 million.
For the year, the company reported net income of $27.7 million, or 16 cents per share, swinging to a profit in the period. Revenue was reported as $193.2 million.
The company's shares closed at $1.60. A year ago, they were trading at $3.57.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SB at https://www.zacks.com/ap/SB