Lowell Farms Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2021
August 16, 2021 at 05:00 pm EDT
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Lowell Farms Inc. announced earnings results for the second quarter and six months ended June 30, 2021. For the quarter, the company reported net revenue was USD 15,157,000 compared to USD 9,894,000 a year ago. Loss from operations was USD 473,000 compared to USD 4,788,000 a year ago. Net income was USD 731,000 compared to loss of USD 8,757,000 a year ago. Net income per basic share was USD 0.01 compared to loss of USD 0.26 a year ago. Net income per diluted share was USD 0.00 compared to loss of USD 0.26 a year ago.
For the six months, the company reported net revenue was USD 26,183,000 compared to USD 19,336,000 a year ago. Loss from operations was USD 6,175,000 compared to USD 11,897,000 a year ago. Net loss was USD 5,988,000 compared to USD 16,631,000 a year ago. Net loss per share - basic and diluted was USD 0.10 compared to USD 0.50 a year ago.
Lowell Farms Inc. is a cannabis company with vertically integrated operations, including cultivation, extraction, processing, manufacturing, branding, packaging and wholesale distribution to retail dispensaries. The Company manufactures and distributes proprietary and select third-party brands throughout the State of California. It also provides manufacturing, extraction and distribution services to select third-party cannabis and cannabis branding companies and sells proprietary bulk flowers and brokers third-party bulk flowers to licensed distribution and manufacturing companies in California. Its brands include Lowell Smokes, Lowell Herb Co, House Weed, Kaizen, Moon, Original Pot Company, Flavor Extracts, Humble Flower and Cypress Cannabis. The Company operates approximately 40,000-square-foot of processing facility, a 15,000-square-foot manufacturing and laboratory facility in Salinas, California, and laboratory facility in Salinas, California, and others.
LOWL FARM 
