Petrogress, Inc. Reports Earnings Results for the Full Year Ended December 31, 2019
May 13, 2020 at 05:12 pm EDT
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Petrogress, Inc. announced earnings results for the full year ended December 31, 2019. For the full year, the company announced total revenue was USD 15.961 million compared to USD 9.026 million a year ago. Operating loss was USD 1.653 million compared to operating Income of USD 329,368 a year ago. Net loss was USD 2.950 million compared to net income of USD 307,047 a year ago. Basic loss per share from continuing operations was USD 0.75 compared to basic earnings per share from continuing operations of USD 0.0894 a year ago. Diluted loss per share from continuing operations was USD 0.75 compared to diluted earnings per share from continuing operations of USD 0.0896 a year ago.
Petrogress, Inc., formerly 800 Commerce, Inc., is a holding company. The Company, along with its subsidiaries, is engaged in international trading and shipping business. The Company is engaged in exploring the potential for acquiring or purchasing or leasing newly built liquefied natural gas (LNG) vessels in the United States to be used for the supply and sea freight of the United States LNG exports. The Company's subsidiary, Petrogres Co. Ltd. (Petrogres), operates as an oil commodity company in West Africa. Its other subsidiaries are Petronav Carriers LLC (Petronav) and Petrogress Oil & Gas Energy Inc. (Petrogress Energy). Petronav focuses on primarily managing the day-to-day operation and handling of the tanker fleet it manages. Petrogress Energy is primarily focused on investigating the feasibility of acquiring oil fields in Texas so that the Company can expand its operations into the LNG market within the United States market.
PETROGRESS, INC. 