Star Equity Holdings, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 12, 2022 at 06:07 am EDT
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Star Equity Holdings, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 30.72 million compared to USD 25.81 million a year ago. Revenue was USD 30.72 million compared to USD 25.81 million a year ago. Net loss was USD 1.58 million compared to USD 1.86 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.36 a year ago. Basic loss per share was USD 0.13 compared to USD 0.46 a year ago.
For the six months, sales was USD 55.77 million compared to USD 48.16 million a year ago. Revenue was USD 55.77 million compared to USD 48.16 million a year ago. Net loss was USD 5.28 million compared to net income of USD 3.58 million a year ago. Basic loss per share from continuing operations was USD 0.38 compared to USD 0.48 a year ago. Basic loss per share was USD 0.44 compared to basic earnings per share of USD 0.53 a year ago.
Star Equity Holdings, Inc. is a diversified holding company. The Company operates through two divisions: Construction and Investments. The Construction division manufactures modular housing units for commercial and residential applications. Its Construction operates in two businesses: modular building manufacturing, and structural wall panel and wood foundation manufacturing, including building supply retail operations. The modular building manufacturing business services the northeast United States and is operated by KBS Builders, Inc. (KBS) in Maine. The structural wall panel and wood foundation manufacturing business is operated by EdgeBuilder, Inc., and the retail building supplies are sold through Glenbrook Building Supply, Inc. (Glenbrook). Its Investments division holds its corporate-owned real estate, which includes its two manufacturing facilities in Maine that are leased to KBS and one manufacturing facility in Minnesota that is leased to Glenbrook.