Margaritaville Ltd Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended of November 30, 2016
Margaritaville (Turks) Ltd. reported unaudited earnings results for the second quarter and six months ended of November 30, 2016. For the six months, the company reported revenue of $2,815,257 compared to $3,375,999 a year ago. Operating profit was $178,119 compared to $518,425 a year ago. Profit for the year was $177,770 compared to of $518,134 a year ago. Earnings per share was 0.26 cents against of 0.77 cents a year ago. Net cash provided by operating activities was $287,302 compared to net cash used in operating activities of $28,686 a year ago. Purchase of property, plant and equipment was $298,697 compared to $21,651 a year ago.
For the quarter, the company reported revenue of $1,201,626 compared to $1,650,448 a year ago. Operating loss was $63,635 compared to operating profit of $247,427 a year ago. Loss for the year was $63,810 compared to profit for the year of $247,252 a year ago. Loss per share was 0.09 cents against earnings per share of 0.37 cents a year ago.