Northeast Bancorp Q1 Profit Climbs, But Misses Estimates

(RTTNews) - Northeast Bancorp (NBN) released earnings for its first quarter that Increased, from last year but missed the Street estimates.

The company's bottom line totaled $22.54 million, or $2.67 per share. This compares with $17.10 million, or $2.11 per share, last year.

Analysts on average had expected the company to earn $2.68 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 23.6% to $48.19 million from $39.00 million last year.

Northeast Bancorp earnings at a glance (GAAP) :

-Earnings: $22.54 Mln. vs. $17.10 Mln. last year. -EPS: $2.67 vs. $2.11 last year. -Revenue: $48.19 Mln vs. $39.00 Mln last year.