Petrogress, Inc. Reports Audited Consolidated Earnings Results for the Year Ended December 31, 2015
May 13, 2016 at 04:42 pm
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Petrogress, Inc. reported audited consolidated earnings results for the year ended December 31, 2015. For the year, the company reported net sales of $21,579,013 compared to $19,737,828 a year ago. Income from operation was $1,163,659 compared to $1,153,095 a year ago. Net income was $1,082,203 compared to $967,836 a year ago. Net cash provided by operating activities was $1,355,649 compared to $117,108 a year ago.
Petrogress, Inc., formerly 800 Commerce, Inc., is a holding company. The Company, along with its subsidiaries, is engaged in international trading and shipping business. The Company is engaged in exploring the potential for acquiring or purchasing or leasing newly built liquefied natural gas (LNG) vessels in the United States to be used for the supply and sea freight of the United States LNG exports. The Company's subsidiary, Petrogres Co. Ltd. (Petrogres), operates as an oil commodity company in West Africa. Its other subsidiaries are Petronav Carriers LLC (Petronav) and Petrogress Oil & Gas Energy Inc. (Petrogress Energy). Petronav focuses on primarily managing the day-to-day operation and handling of the tanker fleet it manages. Petrogress Energy is primarily focused on investigating the feasibility of acquiring oil fields in Texas so that the Company can expand its operations into the LNG market within the United States market.
PETROGRESS, INC. 
