Neo Performance Materials Inc. (NOPMF), Tuesday announced a wider net loss for the fourth quarter, compared to the prior year. The results were impacted by higher operating costs, foreign exchange loss as well as income tax expenses.
The quarterly loss was $12.03 million, wider than loss of $1.129 million a year ago. On a per share basis, loss widened to $0.29 from $0.03 in the prior year.
On an adjusted basis, loss was $4.88 million, while the company reported profit of $901K in the previous year.
Revenue for the quarter 4.8 percent to $134.90 million from $128.67 million a year ago.
The company recorded net finance cost of $13.88 million, compared to finance income of $742K a year ago, while Foreign exchange loss was $4.24 million, compared to $4K last year. Income tax expenses were $7.57 million compared to $39K in the prior year.
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