Portsmouth Square, Inc. Reports Earnings Results for the First Quarter Ended September 30, 2019
October 25, 2019 at 06:06 am EDT
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Portsmouth Square, Inc. announced earnings results for the first quarter ended September 30, 2019. For the first quarter, the company announced sales was USD 15.429 million compared to USD 15.810 million a year ago. Operating income was USD 3.332 million compared to USD 4.243 million a year ago. Net income was USD 826,000 compared to USD 1.321 million a year ago. Basic earnings per share from continuing operations was USD 1.13 compared to USD 1.8 a year ago.
Portsmouth Square, Inc. operates in San Francisco hotel industry. The Companyâs primary business is conducted through its general and limited partnership interest in Justice Investors Limited Partnership, a California limited partnership (Justice). Justice, through its subsidiaries Justice Operating Company, LLC and Justice Mezzanine Company, LLC owns and operates a 544-room hotel property located at 750 Kearny Street, San Francisco California, the Hilton San Francisco Financial District (the Hotel) and related facilities, including a five-level underground parking garage. The Company has two segments. Hotel Operations segment operates the Hotel. Investment Transactions segment invests its cash in marketable securities and other investments. In addition, it also invests in income-producing instruments, corporate debt and equity securities, publicly traded investment funds, mortgage-backed securities, securities issued by REITs and other companies which invest primarily in real estate.
PORTSMOUTH SQUARE, INC. 
