Lowell Farms Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
November 15, 2021 at 05:00 pm
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Lowell Farms Inc. reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was USD 12.47 million compared to USD 14.13 million a year ago. Net loss was USD 8.7 million compared to USD 1.17 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.04 a year ago. Diluted loss per share from continuing operations was USD 0.1 compared to USD 0.04 a year ago.
For the nine months, sales was USD 38.65 million compared to USD 33.47 million a year ago. Net loss was USD 14.69 million compared to USD 17.8 million a year ago. Basic loss per share from continuing operations was USD 0.15 compared to USD 0.54 a year ago. Diluted loss per share from continuing operations was USD 0.15 compared to USD 0.54 a year ago.
Lowell Farms Inc. is a cannabis company with vertically integrated operations, including cultivation, extraction, processing, manufacturing, branding, packaging and wholesale distribution to retail dispensaries. The Company manufactures and distributes proprietary and select third-party brands throughout the State of California. It also provides manufacturing, extraction and distribution services to select third-party cannabis and cannabis branding companies and sells proprietary bulk flowers and brokers third-party bulk flowers to licensed distribution and manufacturing companies in California. Its brands include Lowell Smokes, Lowell Herb Co, House Weed, Kaizen, Moon, Original Pot Company, Flavor Extracts, Humble Flower and Cypress Cannabis. The Company operates approximately 40,000-square-foot of processing facility, a 15,000-square-foot manufacturing and laboratory facility in Salinas, California, and laboratory facility in Salinas, California, and others.