Pingtan Marine Enterprise Reports Financial Results for the Fourth Quarter and Year Ended December 31, 2019
Pingtan Marine Enterprise Ltd. - Ordinary Shares (PME)
NASDAQ:AMEX Investor Relations:
ptmarine.com
Company Research
Source: PR Newswire
FUZHOU, China, March 16, 2020 /PRNewswire/ -- Pingtan Marine Enterprise Ltd. (Nasdaq: PME) ("Pingtan" or the "Company"), a global fishing company based in the People's Republic of China (PRC), today announced financial results for its fourth quarter and year ended December 31, 2019. Fourth Quarter 2019 Financial Highlights (all results are compared to prior year period)Revenue was $34.6 million, compared to $25.1 million. Gross profit was $8.3 million, compared to $9.1 million, and gross margin was 24.0%, compared to 36.2%. Net loss attributable to owners of the Company was $1.0 million, or $(0.01) per basic and diluted share, compared to net loss attributable to owners of the Company of $3.0 million, or $(0.04) per basic and diluted share. 2019 Financial Highlights (all results are compared to prior year)Revenue increased by 39.5% to $89.6 million from $64.3 million. Gross profit was $25.2 million, compared to $31.0 million, and gross margin was 28.1%, compared to 48.3%. Net income a
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