Portsmouth Square, Inc. Reports Earnings Results for the Second Quarter Ended December 31, 2019
January 24, 2020 at 05:10 pm EST
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Portsmouth Square, Inc. announced earnings results for the second quarter ended December 31, 2019. For the second quarter, the company announced sales was USD 14.901 million compared to USD 13.997 million a year ago. Operating income was USD 2.428 million compared to USD 2.009 million a year ago. Net income was USD 381,000 compared to net loss of USD 48,000 a year ago. Basic earnings per share from continuing operations was USD 0.52 compared to basic loss per share from continuing operations of USD 0.07 a year ago. For the half year, sales was USD 30.330 million compared to USD 29.807 million a year ago. Operating income was USD 5.760 million compared to USD 6.252 million a year ago. Net income was USD 1.207 million compared to USD 1.273 million a year ago. Basic earnings per share from continuing operations was USD 1.64 compared to USD 1.73 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. 
