Ecosynthetix Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2019
March 03, 2020 at 05:51 pm EST
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EcoSynthetix Inc. announced earnings results for the fourth quarter ended December 31, 2019. For the fourth quarter, the company announced sales was USD 4.398 million compared to USD 5.989 million a year ago. Operating loss was USD 864,227 compared to USD 607,855 a year ago. Net loss was USD 587,793 compared to USD 348,951 a year ago. Basic loss per share was USD 0.01 compared to USD 0.01 a year ago. For the full year, sales was USD 18.446 million compared to USD 22.799 million a year ago. Operating loss was USD 2.562 million compared to USD 3.457 million a year ago. Net loss was USD 1.454 million compared to USD 2.530 million a year ago. Basic loss per share was USD 0.02 compared to USD 0.04 a year ago.
EcoSynthetix Inc. is a Canada-based renewable chemicals company that specializes in biomaterials used in a variety of end products. The Company offers a range of sustainable engineered biopolymers that allow customers to reduce their use of harmful materials, such as formaldehyde and styrene-based chemicals. It is engaged in the development and commercialization of environmentally friendly, bio-based technologies as replacement solutions for synthetic, petrochemical-based adhesives and other related products in the Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific. It operates in one segment: the biopolymer nanosphere technology platform. The Company's products include EcoSphere biopolymers, EcoMer biomonomers, EcoStix bio-based pressure-sensitive adhesives, and DuraBind bioresins. The DuraBind and EcoSphere, are used to manufacture wood composites, paper, and packaging. Its serves to the markets, such as paper and paperboard, building materials, and other markets.
ECOSYNTHETIX INC. 
