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Pingtan Marine posts 4Q profit

FUZHOU, China (AP) _ Pingtan Marine Enterprise Ltd. (PME) on Wednesday reported fourth-quarter net income of $6.7 million, after reporting a loss in the same period a year earlier.

The Fuzhou, China-based company said it had profit of 8 cents per share.

The ocean fishing company posted revenue of $13.2 million in the period.

For the year, the company reported a loss of $15.5 million, or 20 cents per share, swinging to a loss in the period. Revenue was reported as $20.5 million.

In the final minutes of trading on Wednesday, the company's shares hit $4.75. A year ago, they were trading at $1.36.


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


Keywords: Pingtan Marine, Earnings Report