Authorization

Moro Corporation Reports Nine Month Results

WAYNE, Pa., Nov. 8, 2019 /PRNewswire/ -- Moro Corporation (OTC: MRCR), a multi-subsidiary construction products and services company, announced that revenues for the three quarters ending September 30, 2019 were $40.9 million, compared to $41.6 million in the comparable period in 2018, a decrease of 1.77%. Net incomeA  for the three quarters ending September 30, 2019 was $186,632, or $0.03 per share, compared to $782,325, or $.013 per share, in the comparable period of 2018.Adjusted net income (non-GAAP) for the three quarters ending September 30, 2019 was $500,821 or $0.08 per share.A  This compares to $0.13 per share for the comparable period in 2018, a 36% decrease in earnings per share. A Adjusted net income for the nine month period excludes one-time charges related to the retirement of Moro's former President."Profits for our first nine months this year are down primarily due to several unusual circumstances, including the non-recurring expenses related to the retirement of our former President," said Moro Corporation President, Ehud Israel. A He added, "Net Income was also negatively affected by significantly inclement weather faced by Appolo Heating, a subsidiary of Moro Corporation. Reports of over a foot of rain in Upstate New York placed a hold on or slowed the progress of residential construction projects in spring 2019." Mr. Israel continued, "As a result of the fundamental strength of our operations, we have returned to profitability for our first nine months this year.A  Based on this, we look forward to a strong performance in 2020."
See also:
Leave a comment
News
  • Latest
  • Read
  • Commented
Calendar Content
«    Ноябрь 2019    »
ПнВтСрЧтПтСбВс
 123
45678910
11121314151617
18192021222324
252627282930