MONACO (AP) — MONACO (AP) — Costamare Inc. (CMRE) on Wednesday reported fourth-quarter net income of $104.4 million.

The company said it had net income of 82 cents per share. Earnings, adjusted for non-recurring gains, came to 68 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The shipping company posted revenue of $494.8 million in the period.

For the year, the company reported profit of $385.7 million, or $2.95 per share. Revenue was reported as $1.51 billion.

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