Portsmouth Square, Inc. Reports Earnings Results for the First Quarter Ended September 30, 2022
November 14, 2022 at 06:46 am EST
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Portsmouth Square, Inc. reported earnings results for the first quarter ended September 30, 2022. For the first quarter, the company reported sales was USD 12.31 million compared to USD 6.81 million a year ago. Net loss was USD 0.009 million compared to USD 1.98 million a year ago.
Basic loss per share from continuing operations was USD 0.01 compared to USD 2.69 a year ago.
Portsmouth Square, Inc. operates in San Francisco hotel industry. The Companyâs primary business is conducted through its general and limited partnership interest in Justice Investors Limited Partnership, a California limited partnership (Justice). Justice, through its subsidiaries Justice Operating Company, LLC and Justice Mezzanine Company, LLC owns and operates a 544-room hotel property located at 750 Kearny Street, San Francisco California, the Hilton San Francisco Financial District (the Hotel) and related facilities, including a five-level underground parking garage. The Company has two segments. Hotel Operations segment operates the Hotel. Investment Transactions segment invests its cash in marketable securities and other investments. In addition, it also invests in income-producing instruments, corporate debt and equity securities, publicly traded investment funds, mortgage-backed securities, securities issued by REITs and other companies which invest primarily in real estate.