Frmo Corporation Reports Earnings Results for the Third Quarter Ended February 28, 2021
April 14, 2021 at 08:45 pm
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FRMO Corporation announced earnings results for the third quarter ended February 28, 2021. For the third quarter, the company announced total revenue was USD 89.481 million compared to negative total revenue of USD 1.724 million a year ago. Operating income was USD 89.153 million compared to operating loss of USD 2.038 million a year ago. Net income was USD 34.337 million compared to net loss of USD 4.532 million a year ago. Diluted earnings per share from continuing operations was USD 0.78 compared to diluted loss per share from continuing operations of USD 0.1 a year ago. For the nine months, total revenue was USD 108.259 million compared to negative total revenue of USD 3.464 million a year ago. Operating income was USD 107.207 million compared to operating loss of USD 4.478 million a year ago. Net income was USD 46.190 million compared to net loss of USD 5.232 million a year ago. Diluted earnings per share from continuing operations was USD 1.05 compared to diluted loss per share from continuing operations of USD 0.12 a year ago.
FRMO Corporation is an intellectual capital firm, which identifies and manages investment strategies and business opportunities. The Company is focused on making strategic investments in public and private companies. The Company's investments in unconsolidated subsidiaries include Miami International Holdings, Inc., CNSX Markets, Inc., American Financial Exchange, LLC and Horizon Kinetics, LLC (Horizon Kinetics). Horizon Kinetics is an investment advisory and independent research firm, with research activities serving primarily institutional investors. Horizon Kinetics provides in-depth analysis of information-poor, under-researched companies and strategies to identify complex or overlooked situations that can offer an advantage to the investor. The Company's investments in limited partnerships include Horizon Multi-Strategy Fund, LP, CDK Partners, LP, Polestar Fund, LP, Multi-Disciplinary Fund, LP, Kinetics Institutional Partners, LP and others.
FRMO CORPORATION 
