Ship Finance Int'l Revenue Plunges

Ship Finance International Ltd. (SFL 12.76, -0.60) reported third quarter earnings that missed expectations as revenues fell sharply from the prior year.

Ship Finance International reported third quarter earnings of $0.47 per share, excluding non-cash mark-to-market derivatives and a gain on a sale of assets.  The results were $0.06 worse than the First Call consensus of $0.53.

Revenues fell approximately 30% year-over-year to $80.2 million, well short of the $94.5 million consensus.

Ship Finance owns and operates a fleet of crude oil carriers.