India, Sept. 2 -- StealthGas Inc. (GASS), a provider of seaborne transportation services for liquefied petroleum gas (LPG), on Wednesday reported lower second-quarter profit as revenue declined and operating expenses increased.
Net income fell to $17.30 million, or $0.46 per share, from $20.44 million, or $0.55 per share, a year ago. Excluding one-time items, adjusted earnings were $17.24 million or $0.46 per basic share, down from $21.72 million or $0.59 per basic share.
Income from operations decreased to $14.85 million from $19.70 million a year ago.
Total expenses increased to $28.06 million from $27.54 million. Voyage expenses rose to $6.78 million from $3.83 million, partly offset by lower depreciation and a gain on the sale of ves...