Petrogress, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2020
August 29, 2020 at 12:14 am IST
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Petrogress, Inc. announced earnings results for the second quarter ended June 30, 2020. For the second quarter, the company announced total revenue was USD 133,200 compared to USD 404,000 a year ago. Operating loss was USD 1.003 million compared to USD 521,209 a year ago. Net loss was USD 1.772 million compared to USD 1.011 million a year ago. Basic loss per share from continuing operations was USD 0.35 compared to USD 0.26 a year ago. Diluted eps - continuing operations was USD 0 compared to diluted loss per share from continuing operations of USD 0.26 a year ago. For the half year, total revenue was USD 1.766 million compared to USD 2.526 million a year ago. Operating loss was USD 1.928 million compared to USD 316,185 a year ago. Net loss was USD 3.077 million compared to USD 861,098 a year ago. Basic loss per share from continuing operations was USD 0.6 compared to USD 0.22 a year ago. Diluted eps - continuing operations was USD 0 compared to diluted loss per share from continuing operations of USD 0.22 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. 
