Petrogress, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2019
May 15, 2019 at 11:46 pm IST
Share
Petrogress, Inc. announced earnings results for the first quarter ended March 31, 2019. For the first quarter, the company announced sales was USD 2.122 million compared to USD 2.565 million a year ago. Operating income was USD 205,024 compared to USD 89,657 a year ago. Net income was USD 150,492 compared to USD 120,480 a year ago. Basic earnings per share was USD 0.04 compared to USD 0.03 a year ago. Diluted earnings per share was USD 0.04 compared to USD 0.02 a year ago.
Petrogress, Inc., formerly 800 Commerce, Inc., is a holding company. The Company, along with its subsidiaries, is engaged in international trading and shipping business. The Company is engaged in exploring the potential for acquiring or purchasing or leasing newly built liquefied natural gas (LNG) vessels in the United States to be used for the supply and sea freight of the United States LNG exports. The Company's subsidiary, Petrogres Co. Ltd. (Petrogres), operates as an oil commodity company in West Africa. Its other subsidiaries are Petronav Carriers LLC (Petronav) and Petrogress Oil & Gas Energy Inc. (Petrogress Energy). Petronav focuses on primarily managing the day-to-day operation and handling of the tanker fleet it manages. Petrogress Energy is primarily focused on investigating the feasibility of acquiring oil fields in Texas so that the Company can expand its operations into the LNG market within the United States market.
PETROGRESS, INC. 
