AP NEWS

Pingtan Marine: 4Q Earnings Snapshot

March 16, 2020 GMT

FUZHOU, China (AP) _ Pingtan Marine Enterprise Ltd. (PME) on Monday reported a loss of $1 million in its fourth quarter.

The Fuzhou, China-based company said it had a loss of 1 cent per share. Earnings, adjusted for asset impairment costs, came to 4 cents per share.

The ocean fishing company posted revenue of $34.6 million in the period.

For the year, the company reported profit of $5.7 million, or 7 cents per share. Revenue was reported as $89.6 million.

In the final minutes of trading on Monday, the company’s shares hit $1.13. A year ago, they were trading at $2.38.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PME at https://www.zacks.com/ap/PME