Lafe Corporation Limited Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2018
Lafe Corporation Limited reported unaudited earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenue of USD 3,580,000 compared to USD 2,980,000 a year ago. The increase was mainly attributable to the increase in revenue generated from the Vigers operations. Loss before taxation was USD 82,000 compared to profit USD 641,000 a year ago. Net loss was USD 88,000 or 0.35 cents per fully diluted share compared to net profit of USD 630,000 or 2.49 cents per fully diluted share a year ago. Net cash used in operating activities was USD 3,529,000 compared to USD 1,661,000 a year ago. Acquisition of property, plant and equipment was USD 4,000 compared to USD 4,000 a year ago.