Portsmouth Square, Inc. Reports Earnings Results for the Third Quarter Ended March 31, 2021
May 21, 2021 at 04:19 pm EDT
Share
Portsmouth Square, Inc. announced earnings results for the third quarter ended March 31, 2021. For the third quarter, the company announced sales was USD 2.902 million compared to USD 11.259 million a year ago. Operating loss was USD 1.792 million compared to operating Income of USD 485,000 a year ago. Net loss was USD 1.960 million compared to USD 1.123 million a year ago. Basic loss per share from continuing operations was USD 2.67 compared to USD 1.53 a year ago. For the nine months, sales was USD 9.436 million compared to USD 41.589 million a year ago. Operating loss was USD 6.847 million compared to operating Income of USD 6.245 million a year ago. Net loss was USD 7.696 million compared to net income of USD 84,000 a year ago. Basic loss per share from continuing operations was USD 10.48 compared to basic earnings per share from continuing operations of USD 0.11 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.
PORTSMOUTH SQUARE, INC. 
