Brief: Colabor Group Reports Q3 Earnings Per Share C$0.02

Colabor

17/10/2019 21:39

Oct 17 (Reuters) - Colabor Group Inc  GCL.TO :
    * COLABOR GROUP REPORTS RESULTS FOR THE THIRD QUARTER OF
2019 AND
CONTINUES ITS TRANSFORMATION PLAN WITH THE OPTIMIZATION OF ITS
ONTARIO ACTIVITIES
    * Q3 SALES FELL 1.5 PERCENT TO C$261.5 MILLION
    * Q3 EARNINGS PER SHARE C$0.02
    * CO & RECIPE MUTUALLY AGREED TO EARLY TERMINATION OF SUPPLY
AGREEMENT BEFORE ITS TERM AS SET FORTH IN AGREEMENT
    * WILL BE IMPLEMENTING ALTERNATIVES IN ORDER TO OPTIMIZE
SUMMIT
OPERATIONS AND LEVERAGE ITS EXISTING RESOURCES
    * EXPECTED THAT THERE WILL BE RESTRUCTURING COSTS IN AMOUNT
OF $8
TO 9 MILLION
    * UNDER TERMINATION AGREEMENT, RECIPE WILL PURCHASE
REMAINING
INVENTORY
    * COLABOR GROUP - BOARD WITH ASSISTANCE OF EXECUTIVE SEARCH
FIRM
IS CONTINUING PROCESS TO SELECT NEXT PRESIDENT AND CEO

Source text for Eikon:  ID:nGNX8Cy3SQ 
Further company coverage:  GCL.TO 
    

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