Bioamber Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016
BioAmber Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company’s product sales were $1,458,000 against $367,000 a year ago. The increase in revenue was driven by volume growth in product sales. Operating loss was $8,507,000 against $8,460,000 a year ago. Loss before income taxes was $12,530,000 against $9,075,000 a year ago. Net loss attributable to the company shareholders was $10,946,000 or $0.39 per basic share against $8,398,000 or $0.38 per basic share a year ago. Net cash used in operating activities was $20,284,000 against $5,923,000 a year ago. Acquisition of property and equipment was $26,000 against $29,056,000 a year ago. Adjusted net loss attributable to the company shareholders was $8,112,000 or $0.29 per basic share against $8,578,000 or $0.39 per basic share a year ago.