Portsmouth Square, Inc. Reports Earnings Results for the Second Quarter Ended December 31, 2020
January 29, 2021 at 04:10 pm EST
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Portsmouth Square, Inc. announced earnings results for the second quarter ended December 31, 2020. For the second quarter, the company announced sales was USD 3.109 million compared to USD 14.901 million a year ago. Operating loss was USD 2.741 million compared to operating Income of USD 2.428 million a year ago. Net loss was USD 2.985 million compared to net income of USD 381,000 a year ago. Basic loss per share from continuing operations was USD 4.07 compared to basic earnings per share from continuing operations of USD 0.52 a year ago. For the half year, sales was USD 6.534 million compared to USD 30.330 million a year ago. Operating loss was USD 5.055 million compared to operating Income of USD 5.760 million a year ago. Net loss was USD 5.736 million compared to net income of USD 1.207 million a year ago. Basic loss per share from continuing operations was USD 7.81 compared to basic earnings per share from continuing operations of USD 1.64 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. 
