FRMO Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended November 30, 2018
January 15, 2019 at 03:54 am IST
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FRMO Corp. reported unaudited consolidated earnings results for the second quarter and six months ended November 30, 2018. For the quarter, the company reported total revenue of $10,672,000 against $5,268,000 a year ago. Income from operations was $10,266,000 against $5,042,000 a year ago. Net income was $9,936,000 against $3,064,000 a year ago. Diluted net income per common share was $0.01 against $0.07 a year ago.
For the six months, the company reported total revenue of $25,544,000 against $8,669,000 a year ago. Income from operations was $24,839,000 against $8,257,000 a year ago. Net income was $23,220,000 against $5,238,000 a year ago. Diluted net income per common share was $0.09 against $0.12 a year ago.
FRMO Corporation is an intellectual capital firm, which identifies and manages investment strategies and business opportunities. The Company is focused on making strategic investments in public and private companies. The Company's investments in unconsolidated subsidiaries include Miami International Holdings, Inc., CNSX Markets, Inc., American Financial Exchange, LLC and Horizon Kinetics, LLC (Horizon Kinetics). Horizon Kinetics is an investment advisory and independent research firm, with research activities serving primarily institutional investors. Horizon Kinetics provides in-depth analysis of information-poor, under-researched companies and strategies to identify complex or overlooked situations that can offer an advantage to the investor. The Company's investments in limited partnerships include Horizon Multi-Strategy Fund, LP, CDK Partners, LP, Polestar Fund, LP, Multi-Disciplinary Fund, LP, Kinetics Institutional Partners, LP and others.
FRMO CORPORATION 
