Harbor Star Shipping Services, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 08, 2022 at 10:38 pm
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Harbor Star Shipping Services, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net income was PHP 5.81 million compared to net loss of PHP 72.01 million a year ago. Basic earnings per share from continuing operations was PHP 0.01 compared to basic loss per share from continuing operations of PHP 0.08 a year ago. Diluted earnings per share from continuing operations was PHP 0.01 compared to diluted loss per share from continuing operations of PHP 0.08 a year ago.
For the nine months, net income was PHP 415.05 million compared to net loss of PHP 141.09 million a year ago. Basic earnings per share from continuing operations was PHP 0.46 compared to basic loss per share from continuing operations of PHP 0.16 a year ago. Diluted earnings per share from continuing operations was PHP 0.46 compared to diluted loss per share from continuing operations of PHP 0.16 a year ago.
Harbor Star Shipping Services, Inc. is a Philippines-based integrated maritime service provider. The Company offers a range of maritime services, such as harbor assistance, towing, lighterage, ship salvage, marine construction, repair and maintenance works, wreck removal, firefighting, oil spill abatement and recovery, handling hazardous chemical, ship and crew management, diving and underwater marine works. Its business segments include harbor assistance and renewable energy. The Company's harbor assistance services include docking and undocking various types and sizes of vessels with its diversified fleet. Its Azymuth-propelled harbor tugboats range from 1,200 horsepower (hp) to 4,000 hp. Its towing service provides both regular and emergency towing throughout the Philippines and its neighboring territories. Its lighterage service provides transporting of various commodities using its tug and barge tandems, such as coal, iron and nickel ore, clinker, aggregates, and similar products.