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MarketScreener Homepage  >  Equities  >  Nyse MKT  >  22nd Century Group       

22ND CENTURY GROUP
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22nd Century : loss grows despite higher sales

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11/10/2017 | 06:03pm CEST

Nov. 10--22nd Century Group's third quarter loss widened as rising costs offset a 46 percent jump in the Clarence plant biotechnology company's sales.

22nd Century, which is developing technology to manipulate nicotine levels in tobacco, said it lost $3.3 million, or 3 cents per share, compared with a loss of $2.7 million, or 3 cents per share, a year ago.

Sales grew to $4.5 million from $3.1 million as the company added revenues from a May agreement to make filtered cigars for a customer at its North Carolina cigarette factory. The company has yet to receive revenue from its very low nicotine tobacco technology, which executives believe could be a strong seller in the future as part of a potential push by federal regulators to reduce levels of addictive nicotine in cigarettes as a way to reduce smoking.

___

(c)2017 The Buffalo News (Buffalo, N.Y.)

Visit The Buffalo News (Buffalo, N.Y.) at www.buffalonews.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2018 21,0 M
EBIT 2018 -
Net income 2018 -
Debt 2018 -
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
Capi. / Sales 2018 16,5x
Capi. / Sales 2019 17,4x
Capitalization 347 M
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 11,5 $
Spread / Average Target 312%
Managers
NameTitle
Henry Sicignano President, Chief Executive Officer & Director
James W. Cornell Chairman
John T. Brodfuehrer CFO, Treasurer & Principal Accounting Officer
Juan Sanchez Tamburrino Vice President-Research & Development
Joseph Alexander Dunn Independent Director
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