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Aegean Marine Petroleum Network Inc. (NYSE:ANW) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 14.16%.
Aegean Marine Petroleum Network Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 56.25% to $0.07 in the quarter versus EPS of $0.16 in the year-earlier quarter.
Revenue: Decreased 0.32% to $1.73 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Aegean Marine Petroleum Network Inc. reported adjusted EPS income of $0.07 per share. By that measure, the company missed the mean analyst estimate of $0.18. It missed the average revenue estimate of $1.75 billion.
Quoting Management: “Our eighth consecutive quarter of profitability rounded out a year of strong performance for Aegean,” said E. Nikolas Tavlarios, President. “During the fourth quarter we further strengthened our integrated marine fuel logistics chain and continued to build volume in our lubricants business. Throughout 2012, we grew our business across all key areas as we executed on our growth initiatives, made notable progress in diversifying and expanding our revenue base and increased our global market share. At the same time, we reduced our operating expense structure and leveraged our fixed infrastructure – both of which positively impacted our bottom line.”
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