India, May 7 -- Shares of Great Lakes Dredge & Dock Corporation (GLDD) are gaining over 30% on Tuesday morning after its earnings and revenues for the first quarter trumped Wall Street estimates.
GLDD is currently trading at $9.21, up $2.17 or 30.85%, on the Nasdaq. The stock opened its trading at $8.00 after closing Monday at $7.04. The stock has traded between $5.77 and $9.78 in the past 52-week period.
The company reported net income of $21.0 million or $0.31 per share, compared to net loss of $3.2 million or $0.05 per share. Revenues for the quarter were $198.7 million, compared to $158.0 million last year.
Analysts polled by Thomson Reuters expected earnings of $0.07 per share and revenues of $173.5 million for the quarter.
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