Northern Ocean Ltd. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was USD 30.63 million compared to USD 9.83 million a year ago. Revenue was USD 32.48 million compared to USD 10.1 million a year ago.

Net loss was USD 16.82 million compared to USD 14.23 million a year ago. Basic loss per share from continuing operations was USD 0.09 compared to USD 0.15 a year ago.