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Pingtan Marine: 4Q Earnings Snapshot

FUZHOU, China (AP) _ Pingtan Marine Enterprise Ltd. (PME) on Friday reported a fourth-quarter loss of $3 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Fuzhou, China-based company said it had a loss of 4 cents. Earnings, adjusted for asset impairment costs, came to 8 cents per share.

The ocean fishing company posted revenue of $25.1 million in the period.

For the year, the company reported profit of $13.4 million, or 17 cents per share. Revenue was reported as $64.3 million.

In the final minutes of trading on Friday, the company's shares hit $2.27. A year ago, they were trading at $3.13.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PME at https://www.zacks.com/ap/PME