UNITY BANCORP INC Q2 Profit Increases, Beats Estimates

(RTTNews) - UNITY BANCORP INC (UNTY) revealed a profit for its second quarter that Increased from the same period last year and beat the Street estimates.

The company's bottom line came in at $16.49 million, or $1.61 per share. This compares with $9.45 million, or $0.93 per share, last year.

Excluding items, UNITY BANCORP INC reported adjusted earnings of $12.25 million or $1.20 per share for the period.

Analysts on average had expected the company to earn $1.18 per share. Analysts' estimates typically exclude special items.

UNITY BANCORP INC earnings at a glance (GAAP) :

-Earnings: $16.49 Mln. vs. $9.45 Mln. last year. -EPS: $1.61 vs. $0.93 last year.