Portsmouth Square, Inc. Reports Earnings Results for the First Quarter Ended September 30, 2020
November 03, 2020 at 02:51 pm EST
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Portsmouth Square, Inc. announced earnings results for the first quarter ended September 30, 2020. For the first quarter, the company announced sales was USD 3.425 million compared to USD 15.429 million a year ago. Operating loss was USD 2.314 million compared to operating Income of USD 3.332 million a year ago. Net loss was USD 2.751 million compared to net income of USD 826,000 a year ago. Basic loss per share from continuing operations was USD 3.75 compared to basic earnings per share from continuing operations of USD 1.13 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. 
