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Thursday, August 07, 2014 9:19:08 AM
$PME - Pingtan Marine Enterprise Ltd. Reports Financial Results for the Second Quarter and Six Months Ended June 30, 2014
Second Quarter 2014 Financial Highlights (all results are compared to prior year period)
Revenue from continuing operations ("fishing business") increased 166.4% to $56.9 million from $21.4 million, primarily due to an increase in sales volume as a result of a larger fleet and an increase in the number of vessels.
Gross profit increased 83.7% to $16.8 million from $9.1 million, and gross margin was 29.5% compared to 42.7%, due to a decrease in the average unit selling price as well as new vessels with higher depreciation and amortization expense.
Net income from the fishing business increased 104.3% to $14.3 million, or $0.18 per diluted share, from $7.0 million, or $0.09 per diluted share.
http://en.prnasia.com/story/102298-0.shtml
Second Quarter 2014 Financial Highlights (all results are compared to prior year period)
Revenue from continuing operations ("fishing business") increased 166.4% to $56.9 million from $21.4 million, primarily due to an increase in sales volume as a result of a larger fleet and an increase in the number of vessels.
Gross profit increased 83.7% to $16.8 million from $9.1 million, and gross margin was 29.5% compared to 42.7%, due to a decrease in the average unit selling price as well as new vessels with higher depreciation and amortization expense.
Net income from the fishing business increased 104.3% to $14.3 million, or $0.18 per diluted share, from $7.0 million, or $0.09 per diluted share.
http://en.prnasia.com/story/102298-0.shtml
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