Synthesis Energy Systems, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2018
November 15, 2018 at 06:33 am EST
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Synthesis Energy Systems, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended June 30, 2018. For the quarter, the company reported total revenue of $356,000 compared to $124,000 a year ago. Operating loss was $5,568,000 compared to $19,806,000 a year ago. Net loss before income tax provision was $6,621,000 compared to $20,053,000 a year ago. Net loss was $6,492,000 compared to $20,053,000 a year ago. Net loss attributable to SES stockholders was $6,491,000 or $0.59 per share compared to $20,052,000 or $1.84 per share a year ago.
For the year, the company reported total revenue of $1,507,000 compared to $151,000 a year ago. Operating loss was $10,151,000 compared to $28,080,000 a year ago. Net loss before income tax provision was $9,734,000 compared to $28,480,000 a year ago. Net loss was $9,605,000 compared to $26,551,000 a year ago. Net loss attributable to SES stockholders was $9,604,000 or $0.88 per share compared to $26,523,000 or $2.43 per share a year ago.
Synthesis Energy Systems, Inc. together with its subsidiaries is a global clean energy company. The Company owns SES Gasification Technology (SGT), which is used for production of synthesis gas. The SGT produces syngas that provide alternative to other forms of energy such as natural gas, liquefied natural gas (LNG), crude oil and the conventional utilization of coal in boilers for power generation. It manufactures clean syngas from a range of natural and renewable resources, such as all forms of coal, biomass, municipal solid waste (MSW), and refuse derived fuels. The Syngas is used to produce a range of clean energy and chemical products such as synthetic natural gas, power, methanol, and fertilizer. The Company is focused on commercializing SGT both in China and globally through the regional business platforms.