Brief: Sunopta Q4 Adjusted Loss Per Share $0.11

SunOpta

26/02/2019 12:45

Feb 26 (Reuters) - Sunopta Inc  SOY.TO :
    * SUNOPTA ANNOUNCES FOURTH QUARTER FISCAL 2018 FINANCIAL
RESULTS
AND ADDITIONAL DETAILS ON SALE OF SPECIALTY AND ORGANIC SOY AND
CORN BUSINESS
    * Q4 LOSS PER SHARE $1.13
    * Q4 REVENUE $320.5 MILLION VERSUS REFINITIV IBES ESTIMATE
OF
$292.9 MILLION
    * Q4 EARNINGS PER SHARE ESTIMATE $-0.07 -- REFINITIV IBES
DATA
    * Q4 ADJUSTED LOSS PER SHARE $0.11
    * IN 2018, SOY AND CORN BUSINESS CONTRIBUTED $104.4 MILLION
OF
EXTERNAL REVENUE
    * Q4 PROFITABILITY WAS PRESSURED BY GROWTH INVESTMENTS AND
COSTS
ASSOCIATED WITH LAUNCH OF NEW SKUS ACROSS CONSUMER PRODUCTS
SEGMENT.
    * DURING Q4 OF 2018, COMPANY RECOGNIZED A NON-CASH GOODWILL
IMPAIRMENT CHARGE OF $81.2 MILLION
    * EXPECTS TO RATIONALIZE AN ADDITIONAL $3.0 MILLION OF SG&A
EXPENSES FROM SOY AND CORN BUSINESS SALE
    * NET PROCEEDS FROM SALE WILL INITIALLY BE USED TO LOWER
DRAWN
AMOUNT ON COMPANY'S GLOBAL CREDIT FACILITY
    * SUNOPTA - CO, PIPELINE ENTERED INTO MULTI-YEAR SUPPLY
AGREEMENT
FOR CERTAIN ORGANIC, NON-GMO INGREDIENTS USED IN SUNOPTA'S
BEVERAGE AND SNACKS PORTFOLIO
    * IN 2019, COMPANY IS TARGETING $10 MILLION OF IN-YEAR
PRODUCTIVITY-DRIVEN MARGIN ENHANCEMENT

Source text for Eikon:  ID:nBw5Hc6Lda 
Further company coverage:  SOY.TO 

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