Pingtan Marine Enterprise Reports Q4 2021 Revenue $62.8M; EPS $(1.00)

Author: Benzinga Newsdesk | May 17, 2022 03:47pm

Pingtan Marine Enterprise Ltd. (NASDAQ:PME) ("Pingtan" or the "Company"), a fishing company based in the People's Republic of China (PRC), today announced financial results for its fourth quarter and fiscal year ended December 31, 2021.

Fourth Quarter 2021 Financial Highlights (Year over Year Comparison)

• Revenue was $62.8 million, representing a 102.5% year-over-year increase.
• Gross loss was $7.4 million, compared to gross loss of $12.0 million, and gross loss margin was 11.8%, compared to gross loss margin of 38.7%.
• Net income attributable to owners of the Company was $6.7 million, or $0.08 per basic and diluted share, compared to net loss attributable to owners of the Company of $79.7 million, or $(1.00) per basic and diluted share.

2021 Financial Highlights (Year over Year Comparison)

• Revenue was $164.1 million, representing an 88.1% year-over-year increase.
• Gross loss was $12.6 million, compared to gross loss of $2.4 million, and gross loss margin was 7.7%, compared to gross loss margin of 2.8%.
  • Net loss attributable to owners of the Company was $2.5 million, or $(0.03) per basic and diluted share, compared to net loss attributable to owners of the Company of $72.9 million, or $(0.92) per basic and diluted share.

Posted In: PME