UrtheCast Corp. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company's total revenue was CAD 20.7 million compared with CAD 15.4 million a year ago. Operating loss was CAD 8.9 million compared with CAD 9.2 million a year ago. Loss before income taxes was CAD 9.9 million compared with CAD 11.9 million a year ago. Net loss was CAD 9.6 million or CAD 0.09 per basic and diluted share compared with CAD 11.95 million or CAD 0.12 per basic and diluted share a year ago. EBITDA loss was CAD 3.0 million compared with CAD 5.9 million a year ago. Adjusted EBITDA was CAD 4.7 million compared with loss of CAD 4.3 million a year ago. Non-IFRS revenue was CAD 15.5 million compared with CAD 9.3 million a year ago.

For the nine months, the company's total revenue was CAD 54.5 million compared with CAD 27.7 million a year ago. Operating loss was CAD 21.4 million compared with CAD 11.6 million a year ago. Loss before income taxes was CAD 23.9 million compared with CAD 17.3 million a year ago. Net loss was CAD 20.99 million or CAD 0.20 per basic and diluted share compared with CAD 17.4 million or CAD 0.22 per basic and diluted share a year ago. EBITDA loss was CAD 2.99 million compared with CAD 11.0 million a year ago. Adjusted EBITDA was CAD 3.8 million compared with loss of CAD 5.2 million a year ago. Non-IFRS revenue was CAD 38.2 million compared with CAD 17.5 million a year ago.

The company announced asset impairment of CAD 7.8 million for the third quarter ended September 30, 2016.

The company reaffirmed its full-year guidance for 2016 of non-IFRS revenue of between CAD 55 million and CAD 60 million and non-IFRS adjusted EBITDA of between CAD 4.2 million and CAD 6.2 million. The company expects IFRS revenue range of CAD 78 million to CAD 83 million.