Philly Shipyard ASA announced earnings results for the first quarter ended March 31, 2020. For the first quarter, the company announced sales was USD 7.5 million compared to USD 18.9 million a year ago. Operating loss was USD 7.5 million compared to USD 3.3 million a year ago. Net income was USD 7.4 million compared to net loss of USD 3.4 million a year ago. Basic earnings per share was USD 0.61 compared to basic loss per share of USD 0.28 a year ago.