Nordic American Offshore's (NAO) first-quarter loss widened amid lower revenue and higher expenses.

The spin-off of Nordic American Tankers posted net loss of $9.49m versus a $8.46m loss a year earlier.

Those results were converted into $0.15 loss per share, up from $0.25 loss per share and missing Wall Street consensus of $0.13 loss per share.

Charter revenue came in at $2.82m,