Northern Ocean Ltd. reported earnings results for the fourth quarter ended December 31, 2022. For the fourth quarter, the company reported sales was USD 10.61 million compared to USD 17.7 million a year ago. Revenue was USD 10.88 million compared to USD 18.14 million a year ago.

Net loss was USD 22.14 million compared to net income of USD 51.62 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to basic earnings per share from continuing operations of USD 0.81 a year ago.