NEW YORK (AP) _ Genco Shipping & Trading Ltd. (GNK) on Wednesday reported first-quarter net income of $2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the New York-based company said it had profit of 5 cents. Earnings, adjusted for non-recurring costs, came to 6 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.

The transporter of drybulk cargo posted revenue of $87.6 million in the period. Its adjusted revenue was $52.5 million.

Genco Shipping shares have more than doubled since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15.92, more than tripling in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GNK at https://www.zacks.com/ap/GNK

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