Urthecast Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended on June 30, 2017; Provides Earnings Guidance for the Fiscal Year 2017
For the six months, the company reported revenue of CAD 21,250,000 against CAD 33,125,000 a year ago. Operating loss was CAD 10,612,000 against CAD 12,530,000 a year ago. Loss before income taxes was CAD 11,772,000 against CAD 14,033,000 a year ago. Net loss was CAD 8,984,000 against CAD 11,377,000 a year ago. Basic and diluted net loss per share was CAD 0.08 against CAD 0.11 a year ago. Non-IFRS revenue was CAD 21,250,000 against CAD 22,712,000 a year ago. LBITDA was CAD 2,232,000 against EBITDA of CAD 24,000 a year ago. Adjusted LBITDA was CAD 430,000 against CAD 987,000 a year ago.
For fiscal 2017, the company expected to achieve revenue of between CAD 52 million to CAD 60 million and adjusted EBITDA of between CAD 7 million to CAD 12 million.