Ardmore Shipping (NYSE: ASC) reported Q4 EPS of $0.07, $0.01 better than the analyst estimate of $0.06. Revenue for the quarter came in at $22.3 million versus the consensus estimate of $18.45 million.

Anthony Gurnee, the Company’s Chief Executive Officer commented:

“We are very pleased to report a third successive profitable quarter and our first profitable full year. Ardmore continues to maximize earnings through its versatile employment strategy, currently taking advantage of the very strong charter market by deploying more ships in the spot market. Our spot MR product tankers earned $18,413 per day in the fourth quarter, and are presently averaging approximately $18,800 for voyages in progress.

We have also taken delivery of the Ardmore Cherokee, the first of the ships ordered at the time of the IPO. We look forward to taking delivery of the nine remaining newbuildings throughout 2015, which will result in an approximately 70% increase in revenue generating capacity. Of note, every $1,000 increase in charter rates realized across the fully delivered fleet results in an additional $0.34 of earnings per share. With deliveries weighted to the first half of the year and a large number coming off of previous charters this winter, Ardmore is well positioned to capitalize on the improving charter rate environment.”

Mr. Gurnee continued:

"As we look ahead further into 2015, the product tanker market shows signs of continued strength catalyzed by lower oil prices and supported by robust ongoing demand growth driven by refinery expansions and rising global product exports. We look forward to taking full advantage of these strong market conditions in order to continue building earnings momentum."

For earnings history and earnings-related data on Ardmore Shipping (ASC) click here.