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Saker Aviation Services (OTCQB: SKAS) reported a remarkable increase in revenue for the twelve months ended December 31, 2022, achieving $7,598,597, a rise of 216.6% from $2,400,316 in the previous year. The income from continuing operations also surged, reaching $1,246,621, compared to $726,184 in 2021, marking a significant increase of $520,437.
The growth is attributed to higher demand for tours in New York City and recording non-recurring income. Despite the positive trend, the company acknowledges the uncertainty of continued demand for tours in the future.
Saker Aviation Services, Inc. (OTCQB: SKAS) reported a significant increase in financial performance for the three months ending September 30, 2022. Revenue from continuing operations reached $2,601,799, a remarkable 282.5% increase from $680,278 in the same period of 2021. Income from continuing operations also rose to $406,736, compared to $195,039 in the prior year. This growth is attributed to heightened demand for tours in New York City. While optimistic about continued demand, the company acknowledges the inherent uncertainties in future performance.
Saker Aviation Services reported significant financial growth in its press release. For 2022, revenue reached $3,453,000, a remarkable 192.8% increase from $1,179,000 in 2021. Net income also rose to $722,000, compared to $577,000 in the previous year. The surge in revenue was driven by a rebound in tourist activity in New York City and heightened operations at their Kansas location. The company expressed optimism about sustaining this growth trend despite potential uncertainties in future tourist traffic.
Saker Aviation Services, Inc. (OTCQB: SKAS) reported a significant revenue increase of 125.0% for the three months ended March 31, 2022, achieving $1,820,739 compared to $809,096 in the same period of 2021. The net loss was reduced to $31,152 from $265,666 year-over-year. The growth is attributed to increased tourist activity in New York City. Despite optimism for continued growth, the company cautions that the long-term impact of the pandemic remains uncertain.
Saker Aviation Services, Inc. (OTCQB: SKAS) reported significant financial improvements for 2021. Revenue reached $5.4 million, marking a 53.5% increase from $3.5 million in 2020. The company achieved a net income of $726,000, recovering from a net loss of $1.7 million the previous year. This positive growth is attributed to factors such as the accounting for Employee Retention Tax Credits and the rebound in tourist activity in New York City. The outlook remains cautiously optimistic despite uncertainties due to the pandemic.
Saker Aviation Services, Inc. (OTCQB: SKAS) reported a remarkable increase in revenue for Q3 2021, totaling $1.45 million, up 101.4% from $720,787 in Q3 2020. The net income also surged to $197,078, a significant rise from $6,364 year-over-year. These results were attributed to the recovery of tourist activities in New York City and the positive impacts of ERTC accounting. Despite optimism for yearly comparisons to 2020, the company acknowledges ongoing uncertainties and potential risks stemming from the pandemic.
Saker Aviation Services (SKAS) reported a remarkable revenue increase of 268.8% for the three months ended June 30, 2021, totaling $1.18 million, up from $438,632 in the same period in 2020. The net income surged to $577,164, reversing a net loss of $754,935 year-over-year. The recovery in tourist activity in New York City and PPP and ERTC accounting contributed to these positive results. Despite optimism for the future, uncertainties remain due to the Delta variant impacts.
Saker Aviation Services (OTCQB: SKAS) reported a significant revenue decline of 51.7% for Q1 2021, bringing in $809,096 compared to $1.7 million in Q1 2020. The net loss widened to $265,666 from a $96,140 loss during the same period last year. The COVID-19 pandemic heavily influenced these results, though the company sees potential improvement as they lap prior year’s issues. They anticipate support from CARES Act provisions and increased tourist activity in NYC.
Saker Aviation Services reported a 2020 revenue of $3.5 million, a significant drop of 69.7% from $11.6 million in 2019. The company faced a net loss of $1.7 million compared to a net income of $668,000 the previous year. The COVID-19 pandemic has greatly affected business operations, with expectations for continued challenges in 2021. However, the company utilized various CARES Act provisions, including a forgivable PPP loan, to bolster its financial standing. Future improvements in tourist activity and cost management discussions are ongoing.
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