Imperial Petroleum, Inc. (IPMN.OB) reported full year net income of approximately $10.8 million or $0.64 per share, compared with a net loss of $2.59 million or $0.16 per share in the year-ago period. Operating Revenue for the year declined to $1.07 million, compared with $1.86 million last year.
Jeffrey Wilson, President of Imperial, said, "The sale of assets to retire our debt resulted in an overall gain for the year of about $13 million and resulted in a net gain of about $10.8 million".
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