Evogene Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Guidance for Full Year 2018
For the six months, the company reported revenues of $745,000 compared with $1,899,000 for the same period a year ago. Operating loss was $9,619,000 compared with $10,426,000 for the same period a year ago. Loss before taxes on income was $10,139,000 against $9,579,000 a year ago. Net loss was $10,155,000 or $0.39 per basic and diluted share compared with $9,590,000 or $0.37 per basic and diluted share for the same period a year ago. Net cash used in operating activities was $8,486,000 compared with $8,957,000 for the same period a year ago. Purchase of property, plant and equipment was $153,000 compared with $285,000 for the same period a year ago.
The company provides guidance for full year 2018. For the period, expected course of business, the company expects net cash usage in 2018 of $14 to $16 million.