Diana Shipping has come back to the positive side of the ledger, having overcome an enormous impairment charge from a year ago.
The Simeon Palios-led owner posted a $1.5m net profit attributable to common shareholders during the fourth quarter.
That compares to s $438.4m loss during the same three-month period last year that included a $422.5m impairment loss.
Those results translated into $0.01 earnings per share, better than last year's $4.28 loss per share but still falling short of analysts' estimates of $0.06 per share.
Revenue improved to $62.9m from $48.9m due to higher average time charter rates, which were partly offset by less ownership days following two ship sales in December.
Average daily charter rates improved year-over-year to $13,527 from $9,949.
