UPDATE 1-Star Bulk Q4 loss wider than expected
* Q4 adj loss/shr $0.06 vs est loss/shr $0.03
* Q4 rev fell 57 pct to $31.2 mln
* Average TCE rate per day fell 45 pct
Feb 23 (Reuters) - Dry bulk carrier Star Bulk Carriers Corp (SBLK.O) posted a wider-than-expected quarterly loss, hurt by lower charter rates.
The company's net loss for the fourth quarter was $4.6 million, or 7 cents a share, compared with earnings of $50.2 million, or 89 cents a share, in the year-ago quarter.
Excluding items, the company posted loss of 6 cents a share.
Revenue fell 57 percent to $31.2 million.
Analysts on an average were looking for loss of 3 cents a share, before items, on revenue of $28.1 million, according to Thomson Reuters I/B/E/S.
Average time charter equivalent rate per day fell 45 percent to $23,012 in the fourth quarter.
Star Bulk shares closed at $2.75 Tuesday on Nasdaq. (Reporting by Arundhati Ramanathan in Bangalore)
- Ten countries scour sea for Malaysia jet lost in 'unprecedented mystery' |
- Shots fired in air during raid at Crimea naval base |
- Missing Malaysian jet may have disintegrated in mid-air: source |
- Mexico kills drug kingpin reported dead years ago: official
- Pistorius vomits in court at Steenkamp autopsy details |