OTCPK:BIOAQ - Post by User
Comment by
smithgeeon Mar 27, 2018 9:01pm
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Post# 27791482
RE:Results Out
RE:Results Out Q4 2017 Highlights:
- The fourth quarter revenue of $5.4 million is a record quarter for BioAmber and a 755% increase on a year over year basis.
- Profitability in the fourth quarter showed material gains from Q4, 2016. Gross margins improved from -231% to -20%, while total operating costs were reduced by 17% when excluding the impairment charge and write-off of property and intangible assets.
- New applications for BioAmber's bio-succinic acid continue to grow our customer base and drive our revenue opportunities. We added another 5 customers in Q4, 2017, and an additional 8 thus far in Q1, 2018, bringing our total customer base to over 80. We are now exporting to 17 countries from our Sarnia, Ontario plant.
- BioAmber Sarnia was approved as a participant in the Ontario Cap and Trade Program. We foresee the allowances gained through participation in this program as having a positive impact on our profitability as we ramp up to full capacity.
- During the fourth quarter BioAmber recorded an impairment charge and write-off of $78 million. This charge is a non-cash item.