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Ship Finance: 1Q Earnings Snapshot

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HAMILTON, Bermuda (AP) _ Ship Finance International Ltd. (SFL) on Tuesday reported first-quarter net income of $33.6 million.

On a per-share basis, the Hamilton, Bermuda-based company said it had net income of 31 cents. Earnings, adjusted for non-recurring gains, were 27 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The oil tanker owner and operator posted revenue of $116.5 million in the period.

Ship Finance shares have risen 23% since the beginning of the year. The stock has decreased 10% in the last 12 months.

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