P&F Industries, Inc. Reports Results For The Three And Nine-Month Periods Ended September 30, 2021

MELVILLE, N.Y., Nov. 11, 2021 /PRNewswire/ -- P&F Industries, Inc. (NASDAQ: PFIN) today announced its results from operations for the three and nine-month periods ended September 30, 2021. The Company is reporting net revenue of $12,985,000, and $40,520,000, respectively, for the three and nine-month periods ended September 30, 2021, compared to $12,406,000 and $37,276,000, respectively, for the same periods in 2020.  For the three and nine-month periods ended September 30, 2021, the Company is reporting a net loss before income taxes of $841,000, and net income before taxes of $1,116,000, respectively, compared to net losses before income taxes of $1,193,000 and $5,651,000, respectively, for the same periods a year ago. Further, for the three-and nine-month periods ended September 30, 2021, the Company is reporting a net loss after-taxes of $733,000 and net income after taxes of $1,383,000, respectively, compared to net losses after-taxes of $857,000 and $3,996,000, respectively, for the three and nine-month periods ended September 30, 2020. The income before income taxes for the nine-months ended September 30, 2021, included the recognition of the forgiveness of a $2,929,200 Paycheck Protection Program loan. The Company's basic and diluted loss per share for the three-month period ended September 30, 2021, was $0.23, while its basic earnings per share for the nine-month period ended September 30, 2021, was $0.44, and diluted earnings per share for the same period was $0.43. For the three and nine-month periods ended September 30, 2020, its basic and diluted loss per share were $0.27 and $1.27, respectively.

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