Clearford Industries Inc. (CLI.V: Quote) reported a fourth-quarter net loss of C$658,185 or C$0.01 per share compared to a net loss of C$1.12 million or C$0.03 per share for the same period of the prior year.
For the fiscal year ended December 31, 2011 the company posted a net loss of C$3.98 million or C$0.07 per share compared to a net loss of C$2.79 million or C$0.08 per share for the prior year. The wider in loss mainly relates to increased costs incurred in support of the Company's continued focus on its international initiatives.
Revenue for the year was C$102,934 year compared to revenue of C$171,658 in the prior year.
Expenses were C$4.02 million, up from C$2.96 million in the prior year. The decrease in expenses in the latest quarter relates primarily to a reduction in the stock compensation expense related to certain of its consulting relationships.
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by RTT Staff Writer
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