Industry 9 is expected to grow by 50%, to nearly $20 billion in 2017, according to the firm’s second-quarter financial report released Tuesday.
The firm reported earnings per share of $2.20.
Industry 9, founded in 2001 by John O’Connell and Tom Henshaw, is the world’s largest squid fishing company and its fourth-largest employer, after its chief executive, John Oster, and its board chairman, Andrew Gaffney.
It is also the largest squid producer in the world.
According to the report, industry 9 expects revenue to grow 20% in 2018 and 19% in 2019, up from its previous year.
Its core businesses, including fishing, bait and line services, and the marine life business, will continue to grow.
“While the year is not yet over, we are confident that our business will remain strong for the foreseeable future,” O’Sullivan said in the report.
For the first quarter, O’ Sullivan said, industry nine has been able to generate a net loss of $1.4 million due to an increased number of clients that it had to meet.
In addition to its squid business, the firm is also expanding its fishing business to include the trawler and the fishing boat.
Henshaw and Oster are among those to be named to the board of the company, which is the largest in the industry.