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Ship Finance International miss expectations

Ship Finance International Ltd has reported fourth quarter earnings of $20.1 million, or 20 cents per share.

The Bermudian-based company’s earnings, adjusted for one-time gains and costs, were 24 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The company has 14 oil tankers, 22 dry bulk vessels, 24 container ships and nine offshore vessels. It posted revenue of $96.1 million in the period.

For the year, the company reported profit of $101.2 million, or $1.06 per share. Revenue was reported as $380.9 million.

Ship Finance shares have dropped 3.5 per cent since the beginning of the year. The stock has climbed slightly more than 2 per cent in the last 12 months.