UrtheCast Corp. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016; Announces Impairment Charges for the Third Quarter of 2016; Reaffirms Earnings Guidance for the Year 2016
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.